Good Deal or Not? “oversized one car garage” edition

This home is located at 803 Maryland Ave, NE:

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The flier says:

“Fantastic Capitol Hill Location for this NEWLY renovated townhome. Nothing has been overlooked. Quality contruction and finishes, open floor plan with versatile space. Private courtyard leads to oversized one car garage.”

You can find more info here and a virtual tour here.

I’m not sure if it’s a typo but the redfin listing says it is 2 bed/3.5 bath that seems like a bit of overkill on the bathroom front right? Either way – do you think $599,000 is a realistic asking price?

And I have to share a bonus one nearby that seems like an incredible deal:

This home is located at 334 8th St, NE. It’s a 2 bed/1.5 bath going for $364,000. You can see photos here – good deal, right?

43 Comment

  • House #2: 2 bdrm house in good shape for almost the price of 1 bdrm condo?

    YES good deal!

  • Yeah, I would leave work and sign papers right now if I had any money for a down payment.

  • 1 door dwon fr Kennys BBQ. Place might reek of pork all day

  • 2nd home on redfin says “no more showings – last offer due by 2/22/11”, so this one is likely gone. Looks like it may have been priced artificially low on purpose anyway to generate a bidding war. Likely will go much much higher.

  • The first house seems to be priced about right. The neighborhood is lovely, but far enough from the metro to drive down the price a bit. If the house were located south of Independence it would probably go for $100k more. Although small the house does have a finished basement and a garage (not that you really need off-street parking here), and the finishes all look brand new. It’s a shame the basement doesn’t have a separate entrance for renting potential. If it were me I’d spend a little more on something larger with a rentable basement to offset the mortgage.

  • The house at 803 Maryland is probably priced about right given its size, location, and condition. It’s one of those renovations that has stripped some of the character and charm out of the house but left behind a fairly clean slate with which to work.

    House #2 is ridiculously cheap (unless there’s something that I don’t know). Must be an agent’s desire to bring back the bidding wars of 2004! I would think they could get at least $100k more, and maybe they will when all the offers have been considered.

  • House #2 apparently just went over contract for well over 100k over the asking price.

  • House #2 apparently got MANY offers and escalated WAY above asking.

  • Also, I think House #1 is next to a 7-Eleven. Does that affect the value? I personally wouldn’t want to live next to one.

    • I went to # 2’s open house and talked to the agent. She was definitely trying to start a bidding war and apparently had something like 20 bids by the 21st.

      I think that it will go somewhere in the mid-400s and that that was too much for it. This house is going to need work, it’s not a good flip.

      The living room is really small, the renovation was cheap, all IKEA kitchen, poor craftsmanship on the tile in the kitchen, cheap doors, cheap half bath and the bricks on the patio needed to be redone and that’s just what I saw in a quick walk-through…

      • I live in a typical home depot reno, so maybe I’m biased, but I love my ikea kitchen. It’s basically the only thing I my house that I’d keep if I were redoing it from scratch.

    • House No. 1 is indeed right next to the (recently refurbished) 7-11 at Maryland and 8th.

      Pro: cops frequently hang out at that 7-11.

      Con: There is a bit of a panhandler/persistent loiterer problem out front. (I know, how does this happen with cops there so much?) But this probably has as much to do with the 90-series bus stop right in front of the 7-11 as it does for the 7-11 itself.

      I think it’s a pretty solid deal. There aren’t that many houses with furnished basements and garages in Capitol Hill for that price. There are a ton of bus options (90s, D6, X2-X9, X8) within four blocks, and Union Station and Eastern Market Metros are only about a 15-minute walk away, give or take a few minutes. You can also hop on the bus and get to either of those Metro stops in about five minutes.

      I so want to love Kenny’s BBQ, and have given it many chances since moving to the neighborhood three years ago. Something just seems off with it. For some reason, the french fries are the best thing on the menu. Not good at a BBQ place.

      • To clarify: House No. 1 is NOT “one door down” from Kenny’s, as someone said earlier. It’s kater-corner from it. Kenny’s doesn’t have any problems whatsoever with smells emanating from it.

    • Yeah, that gray building beside it is 7-11. Definitely think it’s a bit overpriced because of that. It’s been on and off the market, IIRC.

      The price for the second house about gave me a heart attack. I’d say run, don’t walk, to buy.

  • I put an offer in on the 2nd house and did not get it. I offered more than it was listed for as it was greatly underpriced. My realtor doesn’t yet know what the official selling price is/will be, but she estimates it in the $500k range… It was an estate sale, listed low to entice people, blah, blah, blah. That aside, the house was great, lovely inside and out.

  • I looked at #2 on Sunday, and the open house was a zoo. I was sure that whatever price I could offer, someone with an escalation clause would win out, and based on the posts above, that seems to be the case. I’ve actually lost two other nearby houses in similar bidding wars. What’s the deal with this section of Capitol Hill? Is the market really that hot or am I missing something? I mean, you can get a much larger house in Petworth that is much closer to metro and retail for the same (or lower) price.

    • You’re on the south — thus more stable — side of H St. We looked at houses both north and south of H. at the time the prices were similar. We figured if we were going to pay that much, we’ll buy south in the Capitol Hill Historic District, thankyouverymuch.

      Prices have dropped to more realistic levels north of H now. Some examples from when we were house hunting: a place that literally has trash strewn throughout the back yard with shopping carts and mattresses or another that faces broken windows, or another where guys used the alley as an autoshop.

      • This area is desirable from an investment perspective because of the proximity to H Street, but also desirable from a liveability perspective because it’s a lot more charming than areas north of H.

      • I hear ya, and south of H has a significant, if small, premium, to north of H, deserved because of less thuggish-ness.

        But, north of H (depending on the spot) is closer to Metro, plus tons of apt construction, and thangs have been moving:


        612 l st ne sold for 619k

        935 5th st ne sold for 625k

        834 7th st ne sold for 605k

        etc etc

    • A lot of it has to do with crime, or at least the perception of crime.

      There have been many recent news stories, on this blog and elsewhere, that contain the words “shooting” and “Petworth” in the headline.

      Not so much with this neighborhood.

      • A lot of it has to do with convenience, too. Lots of people work near Capitol Hill, or the Navy Yard, or some place accessible by 395 or 295 which is right there. We never would have considered a place like Petworth because it’s just too far from the places we would need to get to on a daily basis.

      • Ding ding ding! We have a winner 🙂

    • 10-15 minutes walking to Eastern Market/Union Station/Capitol. 5-10 mins to H Street. 5 Mins to Lincoln Park.

      I think its a great mix between neighborhood and convenience

      • It’s definitely further than a 15 minute walk to either metro, but I’ll agree that it’s pretty much in the heart of everything the Hil has to offer.

        • I live a few blocks away and it’s about a 10 minute walk to Union Station Metro and a 20 minute walk to Eastern Market Metro for me. I just checked Google maps to make sure I’m not just walking particularly quickly, and it gives walking times of 14 minutes from this location to Union Station and 16 minutes from this location to Eastern Market Metro, so I’d say Monster Cow’s assessment is pretty accurate.

          • I always assume the google maps assessment is a little low for city walking because it doesn’t take into account that you have to stop at intersections periodically to let the traffic go by.

          • I’m pretty sure Google maps actually does take periodic stops into consideration. I use Google maps all of the time and I usually get there 2-5 minutes more quickly than the time they give. And I’m 5’2″ with short legs, so I don’t take long strides. I also rarely pass people when walking, so I’m not a quick walker.

          • Regardless, I was using my personal experience, not Google maps, as my primary source regarding how long of a walk it is. I simply used Google maps as a back-up to make sure I wasn’t underestimating the amount of time it would take an average person. (And also because I’ve found that a lot of people tend to discount personal experience of others in these sorts of situations, but rely on tools like Google maps, etc.)

          • I live a block and a half away. It’s a 15 minute walk to Union Station (I do this walk twice just about every day), and not much more to Eastern Market.

  • I bet house #2 is totally haunted.

  • My clients wrote an offer on this property, apparently one of something like at least 21 offers. The house was very under priced to drive multiples, some say not fair. The only way I could attempt to communicate with the listing agent (who by the way had her own financial invested interest in the property) was by text message. Felt like 2005. I think the house will close in the mid 400k range.

    • This is why I hate real-estate brokers. More than lawyers or the IRS.

    • Same thing happened to me last summer– I hate it when listing agents underprice! I can’t imagine how many hours of potential buyer’s and their agent’s time was wasted writing offers on this.

      • I can’t say this bothers me personally. anyone is free to list at a price, anyone is free to offer. when you see a property that’s listed at a too-good-to-be-true price, you can pretty much figure that something’s really wrong with it or they’re stoking a bidding war of multiple offers.

        No one makes you put in an offer or get involved.

        (and this is coming from someone who has experienced lots of real estate disappointment… like losing out to lower, all-cash offers more than once, to seemingly limitless escalator clauses, finding crazy deal-breaking things during inspection [that we paid for, and that the sellers must have known about], sellers pressuring us to waive financing, appraisal, inspection clauses, and plenty more. but that’s house hunting… )

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