Good Deal or Not? “great natural light” edition

This home is located at 1507 A St, SE:

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The flier says:

“the best buy on the hill!!! Fully renovated 4br/2.5ba with gorgeous finishes & perfect layout! inlaid hdwd floors, gourmet kit w/ custom cabinetry, ss appliances, tile back splash, granite counters, great natural light, wonderful moldings, recessed lighting, fully fin lower level w/ br & ba, rear deck & pkg. 2.5 BLOCKS TO LINCOLN PARK & a price that’s hard to beat!”

You can find more info here and photos here.

$579,900 sound reasonable for this 4 bed/2.5 bath home?

24 Comment

  • More than reasonable.

  • This seems below market. Can anybody point to anything besides the vomitous kitchen that would drive down the value?

  • SusanRH

    I think that is a great deal – is there some particularly bad about that block? Maybe the 2nd bedroom is super tiny of something, only thing I can think of to push the price down that much

  • My wife and I looked at this home last weekend. There is something a bit “off” about this place – all three of the bedrooms are smallish, and the 2nd and 3rd are particularly small. The lone upstairs bathroom was remodeled in a way that didn’t maximize the space of the floor, in effect taking away from the 2nd/3rd rooms. Also, the “wet bar” – essentially a marble counter and a sink – in the basement is in a terrible location and doesn’t flow well. Its a NICE place and I’m sure someone will love it, but we felt the remodel could’ve been more thought out.

    • Re: Wet bar. That’s so they can rent out the basement apartment without having to go through the trouble of getting a full set of permits. If you’re renting it, who cares where the wet bar is?

      Sounds like they slapped it together.

      I think the rule of thumb still is more bedrooms “>” bigger bedrooms with all due respect to the earlier discussion.

      • But they’re going to have to turn that wet bar into a real kitchen if they want to rent out the basement. Are you saying that would be easier because they have the wet bar now?

        • Only if they plan to have a legal rental. Otherwise they add a fridge and a microwave (after it’s bought/sold) and put it on CL. However, for final inspection the presence of a fridge and a microwave would alert the inspector that they were planning to use it as a kitchen, which is a different type of permit.

          I’m not saying that’s what’s happening, but that’s one of the permitting games.

          • For it to be a legal rental, they’d need to seal off the bottom from the top and add a second electrical service. This could take months depending on how slowly PepCo works through this.

            If they don’t do that, this qualifies as a (legal) roommate rental — like renting a room in your house. They could rent it for a couple hundred dollars off the going rates to a bachelor type who doesn’t need more than a sink and fridge. Might be worth it to keep it versatile and able to transform back into a rec room for when the kids get older.

      • Functional bedrooms beat either bigger or more every time. That’s the primary consideration.

  • They may be going for the “get everyone in to see a good deal and drive the bidding higher” strategy. This flipper definitely seems to have priced it to sell.

  • When you consider that it sold in Oct ’09 for only $170K less than the current asking, and given the amount of work that probably went into getting it ready for flipping, I can’t imagine the flipper stands to make much profit here. $579K for a 4 bedroom (even if they are small bedrooms) in that location is a good deal. The fact sheet lists the $/sq ft at $296 which is low. I’m not sure that I’d agree with the comment calling the kitchen “vomitous” – sure, it might not be to everyone’s taste, but it isn’t that bad.
    While I can’t say that I know that block per se, it is on the western edge of a slightly iffy area (not real bad, just a little sketchy). However, I’d still say good deal.

  • Not a bad deal in my opinion…I believe that exterior paint is called Sherwin-Williams Premium Band-Aid.

  • Looks like the back yard has an automatic overhead door installed instead of a swinging fence. Does anybody know who can put these in?

    • i got a quote once for 3500 for the install of one. and they are not really legal.

      • I think they are legal if they are properly constructed and have an automatic child safety shut off i.e. the sensor that tells the motor a child is underneath causing the door to reverse direction. Otherwise, you are probably correct.

        Two problems with swinging doors:
        1) Most people like the convenience of a remote for opening the gate. Usually this means you get the overhead door.

        2) Many of the alleys are too narrow to turn a car into the driveway with swinging doors.

  • Looks pretty reasonable to me.

  • Not bad though I dislike the decision to take off the front porch rather than replace it. I think the kitchen is better than average for a flip.

  • Know what? It’s nicer than MY house! LOL

  • I don’t really like it that much, but it seems like a good deal unless there is something really major that can’t be seen here.

    It’s sort of hard to tell because the photos are so spectacularly bad. If you won’t hire a pro, at least hold the camera level!

  • Explainations for the low price: 1) Real estate is generally priced a lot lower this time of year 2) A lot of buyers use 15th Street as a cutoff point, so it may not have shown up on their radars.

    • I agree some people use 15th street as the cutoff, but these people are missing out on some incredible deals just a block or two east.

  • We toured the house last night. There’s very little storage space — small closets in each of the bedrooms, but that’s it. As another commented, two of the three upstairs bedrooms are REALLY small. They’d have been better served, IMO, making two larger bedrooms upstairs (with a walk-in closet for the master) rather than three bedrooms.

    That said, the overall redesign is nice. It’s a little small for the money, but not half bad.

  • Granite counters in the getto are granite counters in the getto!!way to much money for the HOOD!!!

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