Good Deal or Not? “Phenomenal entertaining floor plan” edition

This home is located at 1817 1st St, NW:

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The flier says:

“MUST SEE! STUNNING & METICULOUS RENOVATION top to btm! Gorgeous HWD floors & finishes! Tall ceilings, recessed lights & natural light thru-out! Phenomenal entertaining floor plan & cook’s kitchen w/ cabinets & counter space galore! HUGE Mbed w/ luxurious Mbath! LRG family/tv room in bsmt w/ prvt bed & bath! Separate laundry room! Deck & Patio! Metro/buses, dining, & farmer’s mkt!”

You can find more info here and photos here.

$795,000 sound right for this 3 bed/3.5 bath?

62 Comment

  • Nice master bed but this place should be priced around $500-550k.

  • $500? LOL. It will sell for at least $650.

    • Seriously. In the less-desirable-to-some Truxton neighborhood, someone just bought a two bedroom house for $522k. By “just bought”, I mean they closed yesterday.

      $550k is a dream.

  • Houses of that size and level of renovation are going for the 750 range (see: 70 Seaton Place & 62 (I think 62 but around there for sure) T Street). If you just look at the comps without taking into account the condition of the house, then yes, 550 would be a reasonable assessment. But the houses being sold at the lower dollar figures in Bloomingdale right now are houses that need complete, to the studs, gutting renovations. 795 might be a bit high but with a bit of negotiation cushion built in, not that out of range.

  • Bloomingdale is getting expensive.

    • right??? i remember not too long ago, one didn’t want to WALK down the street near Seaton much less purchase a home for over half a mil….

      times, they are a changin!

  • Generic home-depot style renovation with a sub-pottery-barn staging job.

    Maybe it’s the market rate for Bloomingdale, but for that neighborhood I certainly wouldn’t pay that much.

    For the same price you could easily find the same or better on Cap Hill, which strikes me as much more livable and safer.

  • Crazy price. I’d say they’ll get 550; 600 if they’re really lucky. Nice house; in a generic renovation sort of way. If it were in a better/more exciting location it might be worth 795. I have several friends in the neighborhood. Have no idea where the price is coming from. One moved into a house that was renovated and paid about 530.


    Those are all sales this year in the general vicinity of this place at over $600k. I dont think they justify a $800k price tag for this place, but based on these recent sales I’d bet that it sells for higher than $600k. The simple fact is, it is getting difficult to buy a full house in Bloomingdale for less than 600k…

    This place has some significant negative attributes that most of the places above do not share: it lacks some of the higher end finishes, street parking, and there isnt even alley access… its also south of Rhode Island, which is definitely priced lower than north of RI Ave.

    • 44 W, 74 W, 112 Adams, 65 Adams, 21 Adams, 2 Adams, 139 Thomas, 311 Elm, 231 Rhode Island, and 52 Channing which all sold in the last year for under 600k.

      • While I agree that the asking price is about $100K too high, as the owner of one the aforementioned houses, I can assure you, that it was by no means a comp for the current listing. At the time of purchase, our house required a significant amount of renovation.

      • I lived in 149 Adams up until June of this year and I believe it sold for <$400k (not totally sure). It was a 3/2 (one of the BRs and bath was in the basement- no separate entrance. From what I've read on PoP lately, though it can't be marketed as a bedroom…ceilings were maybe 6'6") but needed a bunch of work. Appliances and CAC/gas heat were pretty old. However, it was in livable shape for sure, and the neighborhood sure was looking up when we left.

  • I just bought a recently renovated 3 BR, 3 Bath condo with off street parking and roof deck in Bloomingdale for less than $500K. Yes, this particular renovation is lovely, but I cannot figure out how the comps would support this asking price.

    • you bought half a row house, right? Seems pretty obvious how a whole house would cost substantially more.

      • same square footage

        • Do you have the top floors?

          Still, that means stairs to get to everything. A full house with the same sq footage and amenities should always be more, because you have the convenience of all floors. A lower condo deals with neighbors noise, higher floors and you need to take groceries (and everything else) up stairs.

          • Yes, top floors. I absolutely agree with you, but I don’t think that avoiding carrying my groceries up the stairs is worth another $200K+, and the attendant 30 years of mortgage interest on that $200K. Especially since these are all tall row homes, and it isn’t the difference between a sprawling rancher with no stairs and stairs. In any event, as a homeowner invested in the community, this is all good news for me, and for my neighbors who also own. Curious to see what happens.

          • ummm are we forgetting something obvious – rental income – which pays for most of your mortgage in this neighborhood.

  • I agree with the people saying $550K is far too low a guess but that $795K is too high. I’m not sure I agree that south of Rhode Island houses sell for less by price per square foot. I think it’s just that those houses on first north of Rhode Island are huge.

    I’d guess this sells somewhere in the high $600s or low $700s. I still can’t believe how much houses are selling for in the neighborhood right now. I think that house on T street that sold for like $750 has kick started something. I heard about another renovation recently that rented out the upper levels for like $5500 and the basement for $1600. I love the neighborhood and everything but that does seem crazy.

  • Seriously though, folks who are discouraged by the high prices in Bloomingdale should just come 1-2 blocks east and get the same house for 200-400k less. Sure there have been some 600k sales on Quincy, but the average is far lower and the houses that are south of McKinley or the ones north of Randolph and West of Lincoln are basically the same architecture as the houses on the unit blocks of bloomingdale and along First St NW. The difference in price is astounding.

    • Yeah, I’ve never entirely understood why those houses on the unit block of Quincy Street NE sell for so much less. Granted, a lot are in shabby condition, but that street is beautiful as are the houses.

      • because it’s NE… it’s a stigma…

        • There are stigmas and then there is just irrational behavior. 100-300k for a difference of a few hundred feet is just shocking. I would be willing to bet that the first house on T St NE would sell for 100-200k less than the similarly appointed first house on T St NW. This hypothetical situation hasnt happened (both houses are currently being worked on, from what i can see) but a middle schooler could throw a whiffle ball between the 2 properties but they could easily sell for 100-200k less. It makes no sense. Though, similar situations have happened on R and Quincy, though.

          This isnt all bad, it allowed me to buy a house, when I otherwise would not have been able to.

        • Veronika is right. I think having to traverse North Capitol, which is a pain in the butt in some areas, such as V, might have something to do with it, too.

          Thank you idiot urban planners who dug the ditch between Bdale and Eckington.

          • The only streets that are interrupted by the ditch/wall are S and Seaton. I think it has to do more with the stigma of a NE address as Veronika says and the grittiness of N Cap south of Randolph.

            Still, a 6 figure reduction seems to be an exaggerated reaction to these factors.

          • assuming one needs uninterrupted flow into nw.

      • it’s because of how many people the don’t really know the city seek places to live.

        they start where they know, and move block by block from there.

        they also search by zip codes. bloomingdale is 20001, except for north capitol. eckinington is 20002.

  • I went to an open house, and thought the quality was very good, better than most I have seen in 20001. Biggest negative is lack of parking, unless the neighbors graciously allow you to access your rear yard thru their curb cut/parking space.

  • I agree that it’s shocking that homes in Bloomingdale would fetch prices of around 7-800,000 or more. C’mon!

    Although they’re the same size homes as you’d find in Dupont (where they sell for well over $1 million) and have the same Home Depot stainless steel appliances and neutral paint color, everyone knows that white people can’t go east of 14th street and everything in all of NE is a burned out ghetto. Plus, a 4 bedroom, 2 bath home in Alexandria sells for over $700,000 so why would someplace scary about a mile from the Capitol in a city that is rapidly gentrifying go for that much?

    It’s all a freakin’ mystery…

    • I feel like we just need to wait a few years and 700-800K will be normal seeing the change that’s been going on lately… it’s really quite remarkable. I’ve lived in Bloomingdale for 3 short years and can’t get over the shift in that time alone… amazing. “Bloomingdale” was where one got a dime bag and not much else in the 90s… Now I can no longer afford my own street. Few complaints here…

      • Just wait until the rest of the intersection at 1st and RI Ave fills in. Assuming the alleged nut of a landlord becomes reasonable in the near term.

      • Woman, you’re crazy.

        Bloomingdale is a 50 minute walk to the nearest metro, and people who live there are forbidden to go to nearby U Street, which is half dead anyway. Sell your worthless Home Depot reno and buy a $500,000 townhouse in Dupont or get thee to Fairfax where homes are worth what people are paying.

      • And then it will all crash and burn b/c you all are paying way too much for these homes with the mentality that “in 3-4 years this will be gold”… When in fact in MIGHT NOT be.

        Buy what you can afford now and where you are comfortable living NOW. Enjoy!

  • Clearly you have never walked to a Metro from Bloomingdale. Have fun in the suburbs, driving your car and doing whatever it is people do out there.

  • Hi Anonymous, I live in Bloomingdale and have a similar condo- my husband and I are fighting our tax assessment (which is crazy high) would you mind telling me where you live so I might be able to use your place as a comp in my tax fight? I guess you can get my email from PoP? Thanks!

  • I get the sense that a lot of comments regarding Bloomingdale (and this listing in particular) are probably a result of some sense of jealousy or perhaps protective instinct of ones own neighborhood.

    For those of us that don’t already live in B-Dale, we might feel like we’ve missed the bus in terms of buying in a clearly improving neighborhood. Maybe we’re a bit jealous that we didn’t get in when we should have and certainly wouldn’t want to admit that now.

    And for those of us that live elsewhere that’s presumably also great/good (which is why we bought there) we couldn’t ‘possibly’ imagine that another neighborhood in DC might now or at some point in the future fetch these kinds of prices. As least we secretively hope that it never will b/c we’d like be the ones who always got the best deal, at just the right time in the just “the next” neighborhood.

    Bottom line is that there are a lot of “wanna be real estate experts” commenting on this blog and the reality is that most of us have no clue what this place will sell for. Some recent sales in that neighborhood have suggested that it might just get the asking price, while others suggest clearly something different. If you do enough searches you can find pretty much anything on the web to back up your point – that doesn’t necessarily mean it’s right.

    Wouldn’t it be fun for POP to look at some of the recent GDON on here, look at the follow up on what the actual sales price vs. asking was and then take a quick look at all of the comments on the original posting? We could see how many of us (out of all the comments submitted) were within 20K, 50K or a 100K in our estimates of the final sales price. I think we’d all be surprised as to how little our comments actually reflect reality.

    • He does… its called GDON Revisited:

      The most recent one in bloomingdale was

      While the commentariat was largely saying it would go for significantly under asking price, i think it came in close to 93% of the asking price.

      • Thanks for pointing that out. I hadn’t seen the GDON, but now that I saw it I was right on, as per usual.

        This house is overpriced by a minmium of 100K. None of you know how to read comps. Just because some “house” nearby sells for “X” dollars, doesn’t mean yours is. Comps are determined on a variety of things. Price per sq/ft, Lot size, and finish.

        If “wishing and hoping” that this is a 800K house, fine…but you are deluding yourself into thinking this house in the quasi ghetto is somehow worth the same price per sq/ft as a SF home in Cleveland Park.

        The owners bought this house in 2008 for 310K, and while it was out of foreclosure, nothing about this home depot quality renovation is worth a 158% price increase in 2.5 years.

  • 107 seaton just sold for over 410,000$ Its never been touched. Very rough shape. I don’t know specifics but it sold in under 24 hours with 10 offers on the table. Im at 113, directly across the street from me, my neighbor is renting out his BASEMENT for 2,100.00 Also rented in under 2 days. Its crazy between 1st and 2nd on Seaton.

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