Good Deal or Not? “renovated into a palace” take 2 edition (reader request)

This home is located at 1001 Otis St, NE:

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The flier says:

“This is a spectacular home that has been renovated into a palace. Originally it was a standard Bungalow but the owner has bumped it out into include a huge master bedroom suite. The main level has been renovated with a new kitchen, renovated rec room, rear patio/barbecue pit and parking for 4 cars.”

You can find more info here and previous photos here.

Back in May ’11 this was one of the most discussed GDoN houses ever listed. A reader let’s me know that it’s back on the market. In May ’11 it was going for $1,500,000. Today this 5 bed/3 bath is listed at $1,200,000.

37 Comment

  • Holy crap it’s the Flintstones house!

  • Somebody has been hitting the happy pills a bit too much. What a joke!

  • It is still comically overpriced. I woudln’t paid more then 100,000 for it but that is becuase I think the changes the owner has made are so ugly. I could see somoene paying about 450,000 for it though.

  • What is crazier is that has this appraised at 1.2+. I smell something funny.

  • jim_ed

    I just assume they just keep forgetting to mention the Pallets of shrink wrapped Bolivian cocaine in the basement that are included in the asking price.

  • I would call this place less “house,” more “compound.”

  • I’m still, months later, so confused by this. There’s no way that house is worth that. Is the gate laced with gold? Or, in all seriousness, are the stones (or something else) of historical importance? I feel like for that price, in that neighborhood, for that house, the flier is definitely missing some important info (surely there are other selling points to note if it’s priced that high).

  • If you even throw out the brookland discount and put this house in Chevy Chase DC, I still think you would have a tough time getting more than 850k for it.

  • sounds like someone took out a few home equity loans and is behind the proverbial eight ball.

  • Ghastly. Pity the poor neighbors who have to look at that thing!

  • brookland_rez

    No way this is worth over $1 million.

    A standard bungalow is around the $500k range in top shape. This might go for $600k, but that’s if you can find someone that likes that look.

    The most expensive house that has sold recently was a big victorian that was renovated very well and it went for like $645k.

    And half of a duplex went for $690k

    • I would argue that there should be a discount from the “standard” bungalow due to the horrible taste shown when renovating it.

    • I actually went to the open house for those two places. The first one was AMAZING!!! tastefully re-done and they kept a tons of the original stuff. Even the new windows looked amazing. The second one is a block from metro – I would not want to live on Monroe on that location but the place was also HUGE, not as well done as the first one – but still way better than this place.

  • Its original, I’ll give them that… I’ve never seen a palace with an 8x8ft living room.

  • anon. gardener

    The tax assessment is reasonable – $300K proposed for 2012. I looked at the property picture in PIVS – in 2004 it was SUCH a nice looking house. What’s been done here is criminal. In the design sense.

  • At this point the only way they get that kind of money for this monstrosity is to burn it to the ground, collect the insurance and let someone else with taste buy the land and start from scratch.

  • There’s a such thing as “over-renovated” for the neighborhood. You simply aren’t going to get a good return on your investment by having a top-of-the-line luxury home in Brookland. Take your 1.2 million and buy a house elsewhere.

  • I had to re-read the entire May 2011 thread because I remembered how entertaining it was. Some choice postings:

    jm: “this house is for a very specific type of person: the millionaire completely obsessed with brookland. unfortunately I think there’s only one person out there who fits that, and they have to move.”

    post post: “honey, i am in here…the shower…behind this wall.”

    Comedy gold!

  • I lived across the street from this house in the 90s. It used to be a normal, nice house. But now? YIKES. Glad I moved.

  • Well, in fairness they did forget to mention that the house was transported brick by brick from Abottobad in Pakinstan where it’s former owner used to live until his sudden death.

  • I’d missed this last time, but the cherry on top of this ridiculousness is the photo that highlights the “PRIVATE PROPERTY NO TRESPASSING” sign. That must be a big selling point for the house.

  • christanel

    I don’t understand. The assessment’s for $400K. How can they sell it for $1.2 million?

  • Wow, that house is terrible. For that much you can find something a lot nicer.

  • I hope this wasnt originally a bungalow because if so they destroyed it. This is the most tacky thing I have seen in a while. It looks like it was designed by the head of some Mexican drug cartel. This person deserves to lose $300k just for having such poor taste.

  • Not that it would improve the look of the stone any, but it’s a shame that they didn’t figure some way to move the front entrance around the corner to 10th St NE. The elevation of the house is much better on that side.

    And that being said, I’d tear out the stone facing and go with a more conservative brick veneer and wood shutters.

  • I’ll say what I said before, bullet-proofing is expense.

  • The only explanation I can think of is that this is part of some money laundering scheme.

  • You couldn’t pay me to live here.
    Only one person could ever be happy living here… and they’re trying to sell.

  • I’m guessing that they took out some loans in 2007 on the house for two things: their business and their renovation. There’s no way that that renovation cost them $1mil, and there’s no way that they would be trying to sell it at that price unless they needed that amount. They’re probably just trying to figure out what kind of loss they can afford. Just a guess

    Any idea what program they took advantage of? Their tax info shows they’re pending a special assessment, but the listing doesn’t mention anything about anything “green.”

  • All the money in the world can never buy taste.

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