GDoN Revisited by Hipchickindc – 1200 Euclid St NW #3

Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, hipchickindc aka the not-so-hip Suzanne Des Marais is an Associate Broker with Urban Pace. She lives (and sells a lot of houses) in Bloomingdale, but works all over DC, with everyone from first time buyers to highly regarded developers. Unless specifically noted, neither she nor the company that she is affiliated with represented any of the parties or were directly involved in the transaction reported below. Unless otherwise noted, the source of information is Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system. Information is deemed reliable but not guaranteed.

Featured Property: 1200 Euclid St NW #3
Original List Price: $425,000.
List Price at Contract: $425,000.
List Date: 07/26/2010
Days on Market: 7

Settled Sales Price: $425,000.

Settled Price Per Square Foot: $500 **Including 1 covered offstreet parking space
Settlement Date: 09/01/2010
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN is: here.
The Listing can be seen: here. To see pics, after opening the listing link, click on the main pic and scroll through.

I’ve watched this building over the years since I had a listing across the street at the same time the property was sold as a shell. That was back in 2004. The entire building, in poor condition, was listed for $599,000. and sold for $725,000. Keep in mind this was pre a lot of the current Columbia Heights development but definitely in the midst of the condo boom.

Fortunately, the developer did a nice job with the space. They were able to get a total of four units plus some parking. This particular unit sold for $385,000. in late 2007 which means a $40k increase in three years. Not too shabby.

The original Good Deal or Not (GDoN) post was at the request of the owner. I have to say that for a GDoN post, there were a lot of comments. The last little bit of feedback from an anonymous poster pretty much summed up the gist of the rest of the comments. “FOR A ONE BEDROOM CONDO? INSANE!!” (All caps is from the original comment, not my edit).

I’m wondering if the newly former owner would like to step forward and take a bow.

19 Comment

  • I love GDON revisited, because they point out how most of the people who leave comments here have absolutely no clue what they are talking about when it comes to real estate.

    My guess as to why this is:

    1.) Most are renters who have never owned a house, or gone through the process of buying one.

    2.) Many are people who paid way too much for their properties during the boom and now are way underwater, and thus are bitter.

    3.) Many can’t afford the properties listed here, and thus are bitter.

    • Not bitter, just despondent. Well, off to look for the next hot neighborhood before everyone else finds out about it and drives prices through the roof.

  • I’m guessing that whoever bought this place will soon be in your 2ed category

  • So, I will toot my own horn and re-post my comment from the original GDoN:

    “$425K for a 1br/1ba of that size with parking and low condo fee and balcony is slightly on the high side, but not out of the market range.”

    I was also castigated for suggesting that people would pay this for good reason. Eat my shorts!

  • this is truly, truly insane. really and truly. and i own a small house in columbia heights (which i paid far less for, in may). i seem to remember that in the original GDON some people thought this thing was in a no-man’s-land of sorts. it’s like 7 blocks from 2 metros and has no grocery stores (although i do give them props for being so close to banneker!), etc. for that money I think they truly could have done better. but i know, i know, some people LIKE being in a no-man’s-land. what i want isn’t what everyone wants. i know… but why do we even bother having these discussions then?

    • I live across the street. And your post is wrong. We have a new Harris Teeter near 17th and Euclid… And we are (Almost) equidistant from the CH and U Street stations. A no-mans land is Shepard Park or Crestwood.

      While I think the prices are crazy, this is a great location. Near DCUSA, Meridian Hill, the 11th Street cluster (Red Rocks, Wonderland, etc…), and U Street.

      While I have a car, I hardly ever use since I can walk almost anywhere I need to get.

      • Shepherd Park is hardly a no mans land. You can walk to Silver Spring Metro from many houses there – or bus down 16th or Georgia. Can even walk to grocery stores and restaurants. And you can actually send your kids to public elementary school there (if you’re so inclined to have the little whipper snappers).

        • I meant no disrespect to SH. I’m actually considering moving there for the kiddies to have a big yard. But, you need to drive a lot more in SH.

  • There is a 4th category –
    People who had the opportunity to buy but did not. Now that group can afford a condo in a building when they could have purchased the whole rowhouse 7 – 10 years ago.

    Good to see people can still have some equity when they sell.

  • No, the median HOUSEHOLD income in DC is around $60k.

  • it is a really sweet condo…and has everything…parking…outdoor space and a great location!

  • The link is broken. Here’s the actual link from the page source:

  • I used to live across the street from this condo (which happens to be in a former crack house) and ended up moving for the reasons that other people have pointed out (not near metro or a grocery store) and also because I never felt comfortable walking around that area after dark. That section of Euclid St. is really cute, but it’s just a bit too close to some sketchtastic areas for comfort. During my time there there were several shootings nearby and my next door neighbor (a young female, like me) got mugged outside her door. I WOULD never pay that much for a condo in that particular area…

  • This is not a no mans land. You can walk to two metro stops, the Giant, Harris Teeter and all the DCUSA and 11th Street “party zone”. You can walk to Adam’s Morgan without working too hard. The public elementary school for that area is H.D. Cooke, which is not horrible, and is getting better everyday.

  • I am the former owner, and the original requester of the GDoN. I enjoyed reading all of the comments of the original thread tremendously, and I appreciate PoP for giving us some extra exposure.

    We had a lot of interest, and ended up accepting the first offer (for full price).

    There are a lot of 1/1 condos out there in DC, but so few that are as large as this unit and with as many windows. When we originally looked in 2007, we saw 34 different properties over 3 months and finally found something unique. I think that is what set our condo apart from the rest of the market. Pair that with proper staging (we filled a 10×10 storage unit with stuff for the staging) and good marketing (clear, nice photos and a website) and I think that is what did it.

    We loved that condo, and will miss it! Now comes the challenge of furnishing our new row house in 16th street hts!

    Thanks to all for the feedback.

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