GDoN Revisited by Hipchickindc – 3615 Warder St NW

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: 3615 Warder St NW
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Original List Price: $549,000.
List Price at Contract: $549,000.
List Date: 10/22/2010
Days on Market: 94
Settled Sales Price: $545,976.
Settlement Date: 02/25/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original Good Deal or Not post is: here
The listing can be seen: here. Virtual tour can be found here.

I have to admit that I was a little surprised that the Good Deal or Not (GDoN) commenters did not go all ballistic on the list price. On the contrary, marybindc started the comments with the question, “It looks like a fabulous deal, why is it so cheap? Bad block?” A little Park View bashing ensued, however, many did see value in this spacious renovated property within blocks of Metro that ultimately sold very close to the list price.

My surprise did not come from thinking bad thoughts about Park View. I tend to think of this neighborhood as a great place to bring buyers who need something affordable and are looking for an urban setting and easy access to downtown. One of the challenges of this neighborhood is that it suffers from, shall we say, a lack of strong branding. Real estate agents tend to call it Columbia Heights because it actually does fall into the legal subdivision of CH. Residents probably call it Park View. If I have to describe it to somebody, I’ll tell them “south of Petworth, east of Columbia Heights”.

Continues after the jump.

This is one of those tucked away neighborhoods, with good housing stock and a range of relatively affordable prices that actually has some active inventory. Here is a link to current active listings, pending sales, and settled sales in the area for the past six months.

For those of you who like the flipper stats, the recent investor paid $241,000. in June 2010 for a possible short sale and “renovation project started”. The prior homeowner paid a pre-renovation price of $330,000. in September 2004.

18 Comment

  • bfinpetworth

    Not surprised at all. That is a nicely renovated and roomy house, 3.5 baths, nice yard, and attractive exterior. And so close to the metro. Really seems like a no brainer compared to the smaller flips going for $450 – $500 in the same area and even further north into Petworth.

  • The Park View neighborhood is a great location – accessible, yet hidden. Much is planned for Georgia Avenue that borders this neighborhood on the west side.

  • If I were in the market right now, I would definitely be looking towards Park View. With what is going on with the development on Georgia Ave from Florida on up, as well as the Sherman Ave project, I think this area is a great investment. The prices seem so low for what you get and the return on investment in a few years will (I predict) be higher than many, if not most, other developing areas in the city.

  • As a Park View resident of a couple years’ standing, I confess to often referring to it as Columbia Heights to people who don’t know this part of the District well. Suburbanites usually have at least a general sense of where that is, but nobody knows where Park View is. I have even had to explain it to people who live east of 14th st.

    As to the price, I’m a little surprised. I’m not aware of much in Park View that has broken the $500K threshhold. HC’s characterisation of this as due to ‘poor branding’ is right on the money: people wince when you tell ’em it’s east of Georgia Ave, but crime is lower than in Columbia Heights proper and there’s a real neighborhood feel. And when the Park Morton redevelopment is done in a couple of years, along with all of the other projects in the works, this is just gonna get hotter.

  • Hey, this is my house!

    I didn’t know too much about Park View when we bought the place (we moved here from a condo in Columbia Heights), but so far so good. It’s a quiet little enclave tucked away behind Georgia Avenue, and we’ve met several neighbors who are all really nice & friendly. There are a few decent options for getting a bite or a pint, with hopefully more on the way. And 3 blocks to the metro is hard to beat.

    • CTK, I used to live just up the block, and it’s a great location – enjoy Park View!

      Oh, and for your bodega needs I recommend Rock Creek Market up at Rock Creek Church and Warder – it’s great.

    • Congrats and welcome to the neighborhood. It’s a great place to live. You’ll be very happy with your decision in the long run.

  • I am hoping $500K will start to be the norm for house sales in Park View for the next decade.

    We saw this place and just couldn’t understand why it stayed on the market so long – looked like a great reno to us.

    Now I understand, it is setting a new high bar.


    • Conversley, those of us hoping to buy in the next three years are hoping prices stay low for a little longer. I guess it all depends on where one is currently located along the buy/rent curve.

      • The sooner you get in the better with all the new plans for the neighborhood and GA avenue.

        My house even appraised almost 50,000 above what I paid simply based several things but the big ones were the walkability factor and the pending neighborhood changes.

        Come to PV / CH or whatever you want to call it.

        It is a nice place to call home.

  • I am working with the new condo project down the street on Warder and the advertised sub-division has been a heated topic of conversation in more than one marketing meeting.

    I have firsthand experience with neighborhood branding from working (and living) in Bloomingdale. I’ve been selling here for ten years but it probably took five or six years of diligently repeating the name on listings and marketing before more agents became aware of the neighborhood (mostly from their clients saying they want to look there). I look back at my own old listings and I used to put “LeDroit Park/Bloomingdale” because people were more familiar with LeDroit Park.

  • its my house too and so far we love it! Another house on the block is also getting renovated and was bought for about 280k and needs a full gut job. There are a couple of other listings in the area over 500k for fully renovated houses. That seems to be the trend in parkview. (we actually got into a a bit of a bidding war for this house so other folks saw the potential here as well).
    Most people have no idea where “parkview” is so I just usually tell them Petworth. Neigbhors are great, close to metro, awesome yard, lovely front porch and a garage. Very happy to be in the neighborhood.

  • I used to live on this block. There are two drug dealers who live on the block and they keep their boys off of the block bc they live with their families there. So while I lived there there were murders and robberies and etc on surrounding blocks, but not one crime the entire year and half I lived on Warder.

  • I call it what it is – Columbia Heights. That what is says on my property tax form. It’s not like when people say they live in “Capitol Hill” when in fact where they live is well outside the recognized legal boundaries of “Capitol Hill.”
    Given the fact that comparable complete renos at and north of Upshur are selling in the mid-500s, I can’t see why renos in this area, which is much closer to the metro, won’t do the same.
    The new norm seems to be much more related to spending more days on the market than selling at a lower price.

  • I’ve lived in Park View since 2000 and have never had any problems. It’s always been a good, solid neighborhood with many residents who have lived in the area for multiple decades. I have wonderful neighbors.

    I agree that “branding” is often a problem (witness the discrepancy even in whether Park View is one word or two (I prefer two)). I am hoping the new development along Georgia will incoporate the name Park View into marketing materials.

  • CTK and Parkviewlifer – I live a block to the South of you across from the school. Welcome to the neighborhood!

  • Thanks krssy…hopefully the weather will warm up a bit so we can get some work done in the yard. If you see us out, please stop by and say hello. We love meeting our new neighbors.

  • Welcome to the neighborhood. I live a couple of blocks from you guys. It’s a great place to live! We have a young child and it’s been a great neighborhood for raising kids.

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