Good Deal or Not? “high-end renovation mixes old and new” edition (Reader Request)

This home is located at 67 N Street NW:

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The Craigslist ad says:

“Gorgeous high-end renovation mixes old and new. Open floorplan, dark floors, high ceilings, 2 fireplaces, exposed brick. 1-car parking, zen patio, small front and sizeable back garden space. In-law suite rents easily for 800/month. Huge master suite with double showers, large walk-in closet with a ton of shelving and Bosch laundry center. One bedroom converted to open, loft-like office space. True chef’s kitchen with built-in professional appliances, double dishdrawers, double-thick honed granite, custom made modern base cabinetry. Truly thoughtful, functional design with high end finishes throughout. New roof. A dose of modernism while attempting to keep the charm of a 100-year old Victorian.”

You can see photos if you scroll down the craigslist ad.

Does $499,900 sound reasonable for this one?

25 Comment

  • I think it’s probably a bit underpriced. You could probably rent the basement for more than 800/mo at that location.

  • You featured this before, last spring, at 565. It sat all summer. I think i got down to 530 before the listing expired. I went to it– very nice, but the ‘hood is kind of rough. The owner I think told me it would be relisted in the spring, I guess rather than sit empty he took a stab on CL?

  • It needs be off the MLS for 90 days to reset the days on market, I think the owner is probably doing that. I think 499 is a steal, that’s right by all that new stuff at New York Avenue Metro.

  • Isn’t selling a house on Craigslist a bit like selling electronics out of the trunk of a car? Is Craigslist an ebay for criminals?

    • Craigslist is nothing more than an online swapmeet lol

    • Criagslist for most of us (Agents) may be a bit more doable for rentals…even then there is to be ALOT of care involved. You never know who is advertising a rental on there. One of my open houses was put on there as a rental, the home was for sale. They stole my ad copy and photos and said it was for rent at $900 a month! a NEWLY renovated 4 br home in Petworth for that much…you KNOW that’s a scam! Thank God I had the listing address on Google Alerts so I can catch stuff like that, I had it flagged for removal quickly!

  • This house is near me. The neighboor is a hidden gem with development creeping in from Mt. Vernon and from Noma. The house is nice but I wouldn’t consider it a seal at that price. The kitchen stove is very nice but all the other “high end” finishes are kind of cheap looking. I wouldn’t recommend that basement for any of my friends to live in for $800 a month.

  • aren’t comps in the neighborhood much higher than this? it really does seem low. i am curious about what backyard there is, the pictures of the patio really don’t show it.

      • Those are both 3 bedrooms, and this is a 4 bedroom. It looks like they opened up the middle bedroom for office space. I think they should wall it back up.

        One of those comps doesn’t have a basement apartment, and while the other does, it’s an exceptionally tiny rowhouse.

        So yes, this should be selling for more. Something must be wrong with it.

        • The listing says that the GDoN is 3 bedrooms.

          I know the comps I pulled aren’t exactly the same, but they’re pretty similar (esp the one on the same block) and they sold for $35-55k less than what this house is listed for, so I don’t think you can say this house is priced “too low” – maybe it’s a little nicer than those 2, but not 35-55k nicer.

          • Meant say to say, not MORE than 35-55k nicer. So I think it could sell for $499k, but I don’t see why it should go for much more than that.

          • It’s says 4 bedroom twice in the CL ad and 3 bedroom once, which I think is a reference to the fact that the took down the wall of that middle bedroom. Can we just sidestep the confusion by saying that the GDoN is “4 bedroom sized” and the 1st street house is “3 bedroom sized”. The square footage isn’t comparable.

            Most people here are saying this is a good price because they know LARGE duplexes sell for closer to $600k than $500k around here. I can’t imagine it’s the “bad block” issue as much as an issue with the house itself — basement problems? IDK

            Merry Xmas!

  • Ugh, I was *really* surprised to see this on here. I own it and had a tax reason to get it under contract in 2010 so with a week to go, on a whim and having nothing to do at work during the holiday week, put it on CL (I actually did sell a house that way). No, there’s nothing wrong with it, no basement problems, the basement rents easily for 800, and yes, it was listed an did not sell, probably due to it being fairly unique style-wise and also probably because of the street and maybe because its just plain hard to sell a house right now. I did not expect it to sell from this ad, it was a whim. It’s going to go on the market in the spring at whatever my trusty realtor tells me is the market rate, which I assume is in the low 500s but who knows. Until then, since it is furnished, I’ll leave it vacant or have a short term tenant. Happy holidays everyone.

  • I don’t understand why the normal crew didn’t swing by and hate on the area like they would if this was 6 blocks north in Bloomingdale/Eckington, when this area is way more sketchy and verging on a third-world country right across NY Ave.

    The three-level vic’s up on RI or lining R/Q are just as (if not closer) to the metro and you don’t have the ‘benefit’ of walking by SC on the way, but whenever one of them lists for 450K-550K, the thread blows up in ZOMG U R GONNA DIEZ! Really?

    • Prince Of Petworth

      You almost seem to be exhibiting a paranoid personality when it comes to Bloomingdale/Eckington. Just relax. Breath. It’s the holidays. Haters and lovers will both be back soon. If you will it, it is no dream.

      • Haha – yeah, you’re probably right PoP. I’d personally say the whole area is being swamped by the west-to-east gentrification tidal wave.

        This one looks like a great house (I actually dig the sea foam green and the little hat on the front facade) – esp for the price. But from what I see on the MPD-5D listserv, the area right around here (south on NY Ave, both sides and north on Unit O NW) both have frequent problems with the bad kind of loiters. Like, the dealer’s running-extension-cords-surreptitiously-from-front-porch-power-outlets bad.

        The residents of O NW are very active in discouraging these activities by calling down Vice every time there’s a major gathering. The meth clinic relocation from up the street to far away in SE will likely do wonders on minimizing these in the futures.

      • no disrespect to the prince, but Question has a valid point – I think its an overstatement and and endrun to call that post paranoid; its a fact how eckington/bloomindale has bad pr and predominately negative feedback most often occurs from folks (whether or not they actually live there). if anyone is paranoid, its those from comments made about the crime etc there, b/c I spent 5 years there and never had issues and my tenant really have liked it there as well. As a native here, its odd to me what hoods are considered either ok, safe, hop or whatever and which ones are not. The only truth I ve consistently seen in 38 yr is that its block by block – development or not…

        If this listing was in Eckington, I really doubt folks would have been so forgiving and supportive. Personally I do think it’s a good deal and real nice place.

        • Prince Of Petworth

          The funny thing is that many many neighborhoods get unfairly treated as simply “safe or unsafe”. It is not just eckington. Other neighborhoods I’ve seen that consistently get the same types of comments are Columbia Heights, Petworth, Park View, Pleasant Plains (all Georgia and Sherman Aves), Brightwood, Ft. Totten, Trinidad, anywhere near North Capitol St, Shaw, Mt. Vernon Sq., Hill East, north of G St, NE and others.

          Honestly sometimes I think people feel better about where they live by putting down where other people live. But if you live in the neighborhood that is put down it obviously sticks with you longer. Believe me, all the neighborhoods I listed above consistently get called in a blanket way – unsafe. And that is most def. not fair. I couldn’t agree with you more. What you said below is what people need to remember:

          “The only truth I’ve consistently seen in 38 yr is that its block by block”

  • Another generic renovation. Beware the basement unit that looks good on the listing but won’t pass inspection for c of o.

  • The second POP posting is a great deal at 719K, not surprised it flew off the market. My fiance and I did a walk through on the open house and its in great shape. Plus a C of O for basement apartment. Not sure what its rented at, but you can probably get 1500

    Right price, right location.

  • 2400 sq feet? The agent is screwing around with the numbers. The place is 1900 sq feet. I guess they are counting the ‘inlaw suite’ basement.

    I know this area well and live near by. This is the epicenter of the ghetto. You have major public housing near by and associated drug dealing in the alleyways. The other problem is that DC government seems to be set on making this area a poor people nonprofit center with all sorts of organizations moving in to provide X and Y to the homeless and the druggies. So 1 block North you have all the deadbeats hanging around all day for free services, and 1 block South you have public housing folks loitering and some of them probably doing more than loitering. Those negatives are here to stay for the foreseeable future.

    The walk to the metro sucks from here. I do think the supermarket is fairly convenient so at least that is nice.

    I would rather live more North, more East, more West. This is just a really bad spot.

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