GDoN Revisited by Hipchickindc – 2819 12th St NE

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: 2819 12th St NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Original List Price: $499,900.
List Price at Contract: $474,900.
List Date: 12/09/2011
Days on Market: 42
Settled Sales Price: $471,000.
Settlement Date: 02/17/2012
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original GDoN post is: here.

The listing can be seen: here. To see pics, open the listing links and scroll through the arrows on the main pic. The link includes the pre-renovation listing with “Before” pics, as well as the first listing for this property (withdrawn) and then the re-listing.

Disclosure: An agent with Keller Williams Capital Properties, the same broker that the writer of this post is affiliated with, represented the buyer in this sale.

Last week Good Deal or Not Revisted (GDoN-R) looked at a recently renovated property on 12th Street NW. We’re still on 12th St, but shifted over to the Northeast quadrant of DC. This week’s subject is a detached home with a 500+ square foot lot, something we don’t usually see in DC for under $500,000., especially in renovated condition. As was noted in the original GDoN comments, the home does not have a finished basement and it is located on a somewhat busy street facing a gas station. Nonetheless, the Brookland neighborhood definitely has its fans.

Continues after the jump.

You can see what the home looked like pre-renovation by clicking on the listing link above, then click on the first link on the list. Someone mentioned in the original GDoN comments that the house had previously been a doctor’s office. The investor paid $225,300. cash for the foreclosed upon property in October after it had been on the market for 217 days (which I think of as a long time for something in DC in a not-horrible location that needed rehab).

The average net sold price for a detached single family home in the Brookland neighborhood for the time period from January 1, 2012 to the present date is $413,225. The most expensive detached home to sell in the neighborhood during this same time period went for a net of $563,000. Like many other neighborhoods in DC, Brookland has very limited current active inventory. As of 03/22/2012, there are only four active listings for detached homes. There are sixteen active listings for rowhomes, and only five active listings for condo units.

2 Comment

  • brookland_rez

    Wow, that’s quite a transformation. Seems like a good deal for under $500k. That end of 12th street is a little sketchy still, but overall it’s pretty safe and improving.

  • Awful purchase for all the reasons laid out in the original Gdon.

    With a minimum of tens of thousand of dollars required in basement water issues, I am assuming the purchasers never vistited or had the place inspected within a couple days of raining.

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