GDoN Revisited by Hipchickindc – 1514 Kingman Place NW

Hipchickindc is a licensed real estate broker. She is the founder of 10 Square Team and is affiliated with Keller Williams Capital Properties. 10 Square Team is a advertiser. 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: 1514 Kingman Place NW
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Logan Circle
Original List Price: $1,349,000.
List Price at Contract: $1,274,900.
List Date: 01/07/2012
Days on Market: 47
Settled Sales Price: $1,250,000.
Settlement Date: 02/15/2012
Seller Subsidy: $6000.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the main pic after opening the link and scroll through.

Located just off of my favorite circle in DC, Kingman Place is a charming one block long street that feels tucked away despite being surrounded by such amenities as the Studio Theatre, Whole Foods, and Caribou Coffee. It doesn’t seem that long ago to me that real estate agents were advertising listings in this neighborhood with “Fresh Fields coming soon!” (Maybe it was Whole Foods by then, but I called it Fresh Fields until the mid-2000s anyway).

Continues after the jump.

I have real estate agent friends that are long time residents of this neighborhood who like to reminisce about extensive efforts to rid this area of prostitution. That said, this home sold in 1992 for $213,000., which was probably on the high side for downtown DC west of the park at that time. (My handy dandy inflation calculator says that would be $342,610. in present day dollars). In February of 1999, 1514 Kingman Place NW was listed for $272,000. and must have caught a bidding war that pushed the price all the way up to $286,000. It’s so unfortunate that the multiple listing service only began accommodating interior photos a few years ago. I’d love to see what this place looked like then.

In 2003, changes in the area were reflected in increasing real estate values. Listed for $699,000., the home sold for exactly that after 11 days on the market.

The most expensive home sold to date on this block is 1519 Kingman Place NW, which transferred for $1,299,000. in March 2006. The subject property is the second highest sale on record for this block.

In the comments to the original Good Deal or Not (GDoN) post, househistoryman aka Paul Williams noted that the property was “actually built in 1886, along with its adjoining neighbor at 1512 Kingman.” Unfortunately, this is a field that is often autofilled in the MLS via public records, which can be incorrect.

4 Comment

  • Quick correction…meant to say “which was probably on the high side for downtown DC EAST of the park at that time”.

  • I put a bid in on this house when it was for sale in 2003. The current owners have put a lot of money into it, including digging out the basement (which was basically a crawl/storage space at the time). Really a lovely house.

  • what’s going to happen to the value of all these homes when interest rates creep back up to normal levels?

  • I grew up on p street and we could have purchased a fairly well-maintained victorian (one block from logan circle!) in 1984 for about 90k but decided against it . Hindsight is 20/20 but wow who would have guessed yuppies/other upper crust suburbanites are willing to shell out over a $1 mill for that “hip, urban living”!

Comments are closed.