GDoN Revisited by Hipchickindc – 81 Florida Ave, 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 princeofpetworth.com 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: 81 Florida Ave NW
Legal Subdivision: Eckington
Advertised Subdivision per Listing: Bloomingdale
Original List Price: $549,990.
List Price at Contract: $549,990.
List Date: 07/07/2012
Days on Market: 8
Settled Sales Price: $549,900.
Seller Subsidy: $5000.
List to Net Sales Price Ratio: 99.07%
Settlement Date: 08/24/2012
Bank Owned?: No Short Sale? No
Type Of Financing: FHA
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

Feedback from buyers lately seems to be in favor of fully renovated properties, so it is not surprising that this property went under contract very quickly. Although located in a neighborhood with high buyer demand and low inventory, it was important for the listing agent to price well in relation to similarly finished properties to account for being located on busy Florida Avenue.

Mid-size properties at this level of finish in the neighborhood are typically selling mid-$600’s and into the low $700’s. Another recently renovated and similarly located property recently sold at 1 Rhode Island Ave NE. 1 Rhode Island Ave NW is larger than the subject property and sold at $636,500.

The listing agent for 81 Florida Ave NW was Kent Fowler with Senate Realty Corporation. Sandeep Kumar with Quick Sell Realty LLC represented the buyer.

3 Comment

  • Someone mentioned that this is right in the middle of the Bloomingdale/Eckington flood zone. Has the flooding had any effect on interest or pricing in this area?

  • Terrible decision…horrible traffic, surrounding blocks are unseemly, crazy, hectic weekends –relative proximity to U Street, and way, way over priced!

    But then again, willingness to pay is willingness to pay…?

    • im not sure you read the posting… other homes in the area are already up at mid 600s and low 700s. it may be overpriced from your perspective, but the market says otherwise (it’s not just this one buyer who was willing to pay). you should be careful to make that distinction.

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