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: 447 Tennessee Ave NE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Original List Price: $939,000. (original listing in June 2010)
List Price at Contract: $843,400.
List Date: 06/2010
Days on Market: 188
Settled Sales Price: $843,400.
Settlement Date: 01/21/2011
Seller Subsidy: $18,400.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Technically this is not a Good Deal or Not Revisited (GDoN-R) because PoPville did not get the chance to opine whether or not it was actually a Good Deal or Not. (Wow, five “nots” in that last sentence.) There were, however, two opportunities to weigh in on the pop up top, so it’s not like you’ve never seen this one before. In any case, in my quest to present settled sales info from a range of neighborhoods around The District, I thought it’d be worth looking at what I think was an interesting sale.
Continues after the jump.
For real estate purposes, Tennessee Ave NE really has two ends. There’s the Lincoln Park end to the South, and the H Street/Benning Road end to the North. I’m so interested in this sale because this property, which was extensively gutted, renovated, and popped, was close enough to the Lincoln Park end but also nodding toward the Benning Road end, and managed to settle healthily over $800,000.
Originally listed in June of 2010 at an optimistic $939,000., the owner tried a brief stint at being for sale by owner at $879,000., followed by a listing with the famous Smith Brothers (tagline-To Hill with the Suburbs) of Capitol Hill (and Prudential Carruthers). For those interested in the renovation math, the tax records show the last previous sale in 2006 for $227,000. Even with the carrying costs and the expensive renovations, this was likely an impressive return.
Every so often a neighborhood sees a sale that pushes its value significantly. To show it in black and white, here are the comps North of C St NE in the area since July 2010. The subject property is the last (and highest listed sale) on page two once you open the link.