Good Deal or Not? “A peaceful refuge plus a rocking’ pad!” edition

This home is located at 1376 F St, NE:

The listing says:

“Rarely found retention of elegance, epitomized by soft warm curves, and flowing formal space. Fits any scenario: Wedding Brunch/Rehearsal Dinner or Poker Night/Super Bowl Party! Not one of so many Ikea houses, but true turn-of-last-century grandeur, bathed in southern light, combined with current state-of-the-art systems & conveniences. Elegant plus fun! A peaceful refuge plus a rocking’ pad!”

You can find more info here and photos here.

This 3 bed/2 bath is going for $598,750.

32 Comment

  • 1. This person selling, and the last kinda took a bath on the house but then again, I don’t understand people buying houses to only live in for a couple years.

    He bought for 590K and is selling for 598k (which according to comps within a 2 block radius is a little high).

    Figuring in the ~7% in transaction costs borne by the seller (realtors, transfer taxes, settlement companies etc), it is gonna cost this person 42K minimum just to sell the place, meaning he is taking nearly a 40K hit by offloading it.

    Person he/she bought it from did the same thing in 2010.

    I know people have their reasons but considering the rental market in DC right now I am wondering why the person isn’t renting it instead of taking a 40K hit. Then again…some people just dont care and want to move on.

    • Interesting… maybe they’ve been all waiting on the elusive streetcar

    • I’d add in the transactional costs when buying as well, bringing the total closer to > 10% lost in transactional costs. Granted, they got something of a tax break from all the interest they paid, but that’s not going to make back $60k. I think they added about $20k in equity payments, so they’re out $40k, maybe closer to $30k after we factor in tax benefits. (I’m assuming cost to rent this house is roughly comparable to the monthly mortgage — if they had rented a comparable house, it would have saved them $30k over the same time period.)

      The only reason I can think of to sell (as oppose to rent this place out for a couple years), is that the seller is flush with cash *and* needs to buy property elsewhere.

  • I can understand prices like this in this neighborhood (though still something of a gamble) if you’re planning on staying for 20 years, but to me it’s way overpriced.

  • talula

    I have no idea if this is a good deal or not, but I am in love with that kitchen.

  • We looked at this house this weekend at an open house on Saturday. Place was packed. Our realtor told us that two offers were already on the table, before we even walked into the house. He also told us that the house was underpriced and will likely start a bidding war. He thought it’d end up going for upwards of $725-750.

    • SouthwestDC

      I’d say your realtor is right on the money with that guess. And good luck with your house hunt– it’s really competitive on the Hill but it will be worth it!

      • You expect it to sell for a minium of 23% more than it did 2 years ago, with no additional renovations?

        I’m sorry…but comps of houses within a couple blocks, all within the past two months are saying otherwise. At $385 sq/ft, it would already be above comp and it really isn’t that special of a place.

        Let us know your realtors name when this doesn’t go for 725-750. Then we will know who not to hire.

        • SouthwestDC

          I’m basing it on my experience looking at Hill houses in that same price range from 2009-2011. For some reason prices shot up dramatically in the summer of 2010, and haven’t come down since, so I think it’s entirely plausible that it sells for a lot more than it did two years ago. Especially if there are several buyers interested already.

          • That’s true. I can’t speak to this neighborhood, but in and around mine, prices have gone up between 10% and 40% since 2010 — depending on what kind of property you’re looking at. Remember back in ’09, when you couldn’t throw a stone without hitting a REO or SS that was depressing prices in the neighborhood?

        • ALL Real Estate – not just Capitol Hill. It’s the Blahgosphere on here for sure. Blah, Blah, Blah.

        • So what do you know, oh smart one, that no one else in the blogosphere knows? Please enlighten everyone with your infinite knowledge of all things DC, especially real estate.

    • Nice. I just followed it on redfin to see what it sells for.

    • Looked at this house yesterday and one closer to Union Station on the 800 block of F St. last weekend going for 710K. I’d say the other F St. property had a bit more to offer (main floor half bath, closer to Union Station, fully finished basement), but with slightly less character. Not sure what the final sellng prince on them will be, but my guess is they should be comparable.

  • The kitchen is god awful. They put in new appliances but didn’t go the extra distance with new cabinets.

  • What a great house! It has a lot of personality and def. more charm than a lot of renovated rowhouses in the same price range. Many prob. won’t care for the kitchen, but I think new cabinet doors would be all it would need. Though I kinda like the kitchen. The original woodwork and exposed brick throughout should also make it popular. I personally don’t think it will sit long.

  • So tired of missing out on the photos. My ipad doesn’t do flash, apparently.

  • Even Photoshop & a wide-angle lens can’t fix ugly.

  • I think it’s quite a nice looking place. I’d only pay $200K for it though.

  • That kitchen is a dealbreaker. and what’s up with the weird wood boxcrates dividing the kitchen from the breakfast nook?
    sorry to harp on the kitchen but on my monitor those cabinets look seafoam green. and grey. with pine countertops?!? sweet jesus.
    I like the clawfoot & brick in the bathroom. the backyard looks cool.
    The description is a little overzealous.

    • I felt the same about the wooden nook things, and about the bright green cabinets.

      Oh, and about the description too. Unless the agent is looking to hire it out as a venue, why would he/she even bring up “wedding brunch/rehearsal dinner”??

  • This agent always writes kinda wacky descriptions…I personally find them distracting….

  • This particular agent likes to under-price properties for quick sale. As a potential seller there, his pricing almost always pisses me off.

  • So glad someone commented about the listing agent. Can always tell one of his listing from the totally bizarre and non descriptive descriptions of the property. That and his weird pricing annoy me too. Wouldn’t use him to sell my place but i’m sure he’s laughing all the way to the bank.

  • Make it stop – who wrote the listing description for that house? What the hell does it mean? And what’s with the 598,750 price or whatever. Why not just call it 600,000. or 599,000. What’s the strategy with the odd number pricing and the weird description of the property? I wouldn’t even know what he was talking about if I read it. Let alone whether the house meets my needs. That house also needs a paint job. dreadful color scheme.

  • I would like to throw my hat into the ring as well. This place will sell for no less than $650k. I am betting on it closing higher, but I just want to be able to laugh at all the people on here who say this is overpriced. You are all very out of touch. If this place goes for anything less than $650k I hereby give you permission to scoff at and humiliate me.


  • I saw this house as well over the weekend. There were a ton of people in the Open House. I don’t think this is in Capitol Hill.. more H St area. The place is nice enough, but I think the pictures are a lot nicer than the place itself. (I should hire that photographer when I sell my place). The kitchen looks really cute in the pictures, but in person it actually looks like shit. Well that’s a strong word, but it’s the kind of kitchen you would see in rental and not a $600K place.

    As for the neighborhood… well it’s a block or two south of H St. The actual block this house it’s in is a little weird. I saw a lot of houses that weekend, but if I remember correctly.. in this street, one side of the street is ugly dingy wardmans. The other side has pretty victorian houses… Again, not the kind of place I would want to spend that much money at… but I guess this IS DC.

  • That was quick. It’s under contract.

Comments are closed.