GDoN Revisited by Hipchickindc – 1731 1st St NW #2

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: 1731 1st St NW #2

Legal Subdivision: Eckington
Advertised Subdivision per Listing: LeDroit Park (LeDroit Park is actually north of Rhode Island Ave. It used to be common to advertise this spot as LeDroit because it was considered a more recognized neighborhood. In recent years, however, Bloomingdale has become increasingly familiar).

Original List Price: $495,000.
List Price at Contract: $495,000.

List Date: 07/07/2010
Days on Market: 6

Settled Sales Price: $495,000.

Settled Price Per Square Foot: no tax record yet & no sq footage listed
Settlement Date: 09/03/2010
Seller Subsidy: $15,000.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original GDoN is: here.

The Listings for both units 1 (under contract) and unit 2 (settled sale profiled) can be seen: here. To see pics, after opening the listing link, click on the film strip icon to see the virtual tour.

I make it no secret that Bloomingdale is my favorite ‘hood in DC. Given that we’re at the lowest level of active listing inventory in the neighborhood since I’ve been tracking stats for over nine years, it looks like a lot of people are in agreement.

Continues after the jump.

I spent Thursday evening at the grand opening of Rustik Tavern, surrounded by my neighbors, old and new. On Sunday, I’ll walk to the Farmer’s Market before my open house. I love being able to patronize businesses where I know the owners by name and they know me. These include the local coffee shop, the yoga studio, organic market, and several shops. I can easily walk to Metro, or even to my office downtown. I could go on and on, but I’m sure there will still be people who don’t see it.

In 2002, I toured an investor client in this particular house when it was listed for $230,000. It wasn’t in great shape but the house was enormous, with great bones, as we say. At the time, I ventured that soon that renovated house would possibly be worth over $400,000. That investor thought I was insane.

Only a few months ago, I showed the house again when it was on the market post renovation and divided into two units. Apparently, whomever bought it in 2002 and put a lot of time and money into it, lost it to foreclosure. Bank-owned, it was on the market for $499,900. and ended up receiving multiple offers, ultimately selling for $550,000. back in May of this year. The folks who bought it cleaned it up and went through the legal process of subdividing it into two condo units. The top level duplex just settled at $495,000. less a $15,000. closing cost subsidy. The lower duplex unit is under contract and was listed at $447,000. (We won’t know what it sold for until after settlement.)

29 Comment

  • No ill intent here, just curious… what makes you like Bloomingdale so much? I’ll admit I haven’t spent a whole lot of time in the area but it always seemed kind of run-down and unappealing.

    • Hipchickindc lives in bloomingdale

    • Have you actually seen the houses in Bloomingdale? They’re stunning. I think it’s a kind of petri dish neighborhood for DC regeneration/gentrification/urban pioneering (whatever your perspective). So examining things like house prices and restaurant openings is relevant for people on PoP who pay attention to such things in the city.

      • except that its much smaller and has a very delineated boundary, is it that different from Columbia Heights, or Capitol Hill?

    • I brought a house in bloomingdale a year ago. I looked all over the city for a house. I could afford to live int he area around american university but I opted to live in bloomingdale. First of all I can live much better in bloomingdale then the 20016 neighborhood. When people say that location, location, location are the 3 tenants of real estate that may be true but I don’t want o spend 800k on a house around AU and have old plumbing,old electricity, old roof and single pane windows just so I can say I live near AU. So often I would go in homes around AU that were in the 800K and need to dump a 100K more in the house just to update functionality and open it up so I could actually get my furniture up the stairs. The front facade of so many of those homes are kept in perfect condition but what is on the other side of those doors can be a real disappointment. For example I had decided to purchase a home that need considerable work in the 20016 area. It was foreclosure and was in need of a complete gut and redo. Someone out bid me by 10k and got the house. They never put another dime in the place and moved in. I don’t live like that. I don’t want to spend up to the max I can afford just to say I live around AU and then watch my hard earned money leak out of the single pane windows during a hard winter like last year. The home I brought in bloomingdale has been completely redone from floor to ceiling and is gorgeous. My neighbors are great and attentive to the neighborhood and don’t hesitate to call the police if they see something that looks out of place. I have lived in narrow, tiny homes of capitol hill(I have owned 3 homes on capitol hill) and after being there for a year I had clocked plenty of time calling 911 so it isn’t some great refuge away from crime. My homes were in as close as 4th st and as far out as 14th pl on the hill. Bloomingdale, at least north of RI ave, is really a hidden treasure and I am kinda glad that some people continue to dismiss it as crime ridden and run down. Only the people willing to come and actually see will know and others who are aching to live in the more posh areas can go there and deal with neighbors who will never so much as wave a greeting to them. So yes bloomingdale is run down and crime is every where, stay away stay away.

      • No dissing the south side of Rhode Island. We’ve got Rustik, Timor, Yoga District, Big Bear, The Farmer’s Market, and eventually an organic dry cleaner.

        I specifically chose to live on the block I am on (south of Rhode Island). I rented on the block for a year until a house I wanted came on the market for sale.

  • I’ve lived in Bloomingdale for nearly a decade, and in addition to having charming architecture and being convenient to everything, it’s the friendliest place I’ve ever lived by far. People thought I was insane to move there from Old Town Alexandria, but I wouldn’t trade it for anything.

    • SouthwestDC

      I used to live in Old Town and the people there are really not friendly at all!

      Plus, you probably cut your living expenses in half just by moving to Bloomingdale.

  • as residents and a homeowners in bloomingdale, we couldn’t be happier (and feel more lucky) with our choice. given our price range, we considered all neighborhoods, and really focused on the type of house we wanted more than the actual neighborhood — boy, were we lucky that we got the best of both! I personally love bloomingdale because it allows me to keep my lifestyle that i had in dupont — sure i have to walk further, but i am still walking distance to bars/restaurants i patronize and to work.

  • I frankly dont understand why when bloomingdale is brought up in ANY capacity on this blog someone has to talk about it being “crime ridden” or “run down”. Without drawing comparisons to crime stats and conditions in other neighborhoods… why is it that there certainly are similar neighborhoods, many of them in fact, to bloomingdale – but when they are discussed there isnt the same level of pushback along the lines of crime and decay. You’d think, by reading the comments, that Bloomingdale was the epicenter of criminal activity and urban decay in the city and that people who buy houses there are taking their lives in their hands and are surrounded by scenes from The Wire.

    What gives?

    • Also, I concede that in this post, there hasnt been that discussion (not really at least)… yet… but I always wince when these things are posted because I see it coming each time…

    • Prince Of Petworth

      I think you may be a bit oversensitive.

      • Though, I wonder if its not just scapegoating of sorts. The majority of posters on this blog appear to live in areas that have a legitimate crime problem – perhaps they are making themselves feel better about the dangers they face by projecting even greater dangers onto other areas?

        I mean I’m reading the original GDON and its just shocking, really.

        Btw – I cant believe this place closed at $480k. Prices are just getting scary in DC again. Even a year ago, things werent like this.

        • i think theres a pretty natural tendency that if you only hear roses and lollipops, you through a little salt on the issue.

          of if you only hear negatives, you have to throw in a bit of the good.

          i live in bloomingdale and can talk it up, or down, and be accurate in each.

    • Because, quite frankly, it borders some truly shitty areas of the city, namely the stretch of N Cap around Fla Ave and the southern sections towards NY Ave and Sursum Corda and they get lumped into the nicer parts. Very block by block.

      But we settled here because the actual residential parts of Bloomingdale are beautiful, friendly and as safe as any other up-and-coming section of the city. Take a walk up 1st St from RI Ave to Channing on a day like today, you’ll see what I mean.

    • because frankly, there are a lot of people that comment on this blog that have lived in bloomingdale for a long time and have seen a whole lot of shit go down here.

      yeah, it’s a great neighborhood, but there are still problems. when a place is painted all rosy and pristine, sometimes a person needs to throw a bit of reality on it.

  • Somebody made a LOT of money in 5 months.

    May 2010: Bought whole thing for $550K.

    Unit 1 settled in Sept 2010: $495K


    $477K (other one went for list)

    = $972K.

    That’s $422K gross profit in about 5 months.

    In this market??? Wow.

    • Correction. 447K is the list for the lower unit that is under contract. That takes the gross profit before subtracting renovation, legal on the subdivision, and transaction costs to $392K.

      Still nuts, especially because hipchickindc said all they did was “cleaned it up.”

  • One last correction. I should also subtract the $15K in seller subsidy from their profit. Brings it down to a much more blue collar $377K. Kidding.

    They did a hell of a job staging that thing. The original GDoN pictures show two professionally finished condos.

    Though, I personally think the open floor plans are a fad. It’s got more historic credibility in my view if you keep the original walls, when feasible and reasonable.

    • open floor plans have been around for a long ass time. what’s your timeframe for “fad”?

      • I don’t think you are looking for an “answer” to your question.

        Open certainly creates a lot of floor plan/design flexibility. It certainly is the current formula for flipping success.

        I’d like to see it get played out. I hope it become a fad. Restoring pocket doors is so much cooler than the ubiquitous open floor plan.

        long ass time? How long? 10 years?

        • the fad of open floor plans began in the 1930’s or so. people like Mies van der rohe and Frank lloyd wright made it popular.

          mid century modern was all about that kind of thing.

          • Okay. Let me qualify it.

            I hope that, in the renovation of historic row houses in DC, creating an entire open floor plan where it didn’t exist previously by taking down original walls and removing restorable pocket doors becomes a fad.

            That certainly hasn’t been happening for a long ass time (if long ass is 70 plus years), even if those great architects were doing it in newly constructed homes and buildings.

          • I agree with you, JTE. I saw a house on Capitol Hill this past week that my partner loved– huge corner Victorian, beautifully rennovated, etc. But I just couldn’t live with the open floor plan downstairs. You had the stairs on one side and the living room/dining room/kitchen stacked on the other side and you could see straight through from the entrance to the back. Ugly, ugly floorplan!

          • they designed open spaces… they didn’t take a Victorian or a Federal and try to make it mid century modern… I think those are two different things…

  • I LOVE BLOOMINGDALE – there, I said it. Very basically, I’ve lived many places and owned a few homes here and elsewhere. The affordability in Bloomingdale was what initially attracted me. I have friends in Logan who report that their cars/homes are broken into on the regular. I have not had that experience and I don’t live behind bars on my windows. The house is large with many period ammenities and I’m laughing all the way to the bank taking pride in the ownership that is the result of a very good decision to purchase in Bloomingdale. While under contract on another property, I’ve been asked time and time again whether I intend to sell – the answer to that is a resounding NO. I’ll never sell it, these properties are far too valuable and especially so if you’ve got an intact house with period gems like pocket doors and original mouldings. The bottom line, if you don’t love it here I know at least 20 other folks who will so have that 🙂

    • You probably should get bars, though. I don’t care what neighborhood you’re in– it’s not worth the risk of having your home broken into.

Comments are closed.