Beautiful Renovation at 541 7th St, SE

1-home

Some bonus house porn this week – the listing for 541 7th St, SE says:

“The most captivating home to emerge on the Hill this season. Developed by Ditto Residential in collaboration w/ acclaimed interior designer Darryl Carter. 5brs/5 full baths/2 half baths spread across 4 finished levels & nearly 5,000 sq.ft. An unparalleled commitment to quality & style. Carefully restored original details, seductive appointments, & highest quality finishes. Visit 541seventh site.”

You can see lots more photos here.

This 5 bed/5 full bath/2 half bath is going for $2,495,000.

10 Comment

  • THIS is what happens when a renovation is done right! Awww yeah!

  • The backyard makes no sense. The parking space is so small you can barely open your doors to get out of your car. They put all of the household utilities in the closets. One closet has the boiler another has the air handler another. And the finishes are tacky. The photographer is a magician, the house looks much better the pictures and a dozen person. Bottom line if you want a pad that looks like it’s been peeled off the Las Vegas strip this is the place for you. These guys have a lot of places on the market right now and none of them are moving.

  • This is not a standard price for this part of Capitol Hill. If the house was located in the Eastern market neighborhood maybe, but it’s located in Barricks Row. Looking at comps for the past six years and nothing has sold for over 1.1 million in this area. This isn’t even a million-dollar street. The other homes on the street need a lot of work. I wish them luck going to need it.

    • Eastern Market and Barracks Row are separate neighborhoods now? I consider it all the same thing.

    • That’s weird because we were priced out of places off Barracks Row and ended up buying near Eastern Market. I’m pretty sure you have the pricing backwards. I also recall there being a $2 mil property sold not that long ago up the street from me.

    • Sorry, but you guys are way off. First of all, the product this developer (Ditto Residential) puts out there is the highest quality I’ve ever seen in DC. He did the roundhouse in Brookland, and has done several houses on Constitution Ave and 13th. All his houses fetch record prices because the quality is unsurpassed. They are not flips, but rather total gut jobs and then he puts the best of the best all around.

      I went to see this house this weekend. This house is HUGE. Almost 4,800 sq ft, which is very unusual in the Hill. It is truly spectacular. Also, Barracks Row and Eastern Market are the same thing as far as location/prices; same zip code, same schools, and two blocks away from each other!

      Also, I can guarantee you that it is very much a million dollar + street. For example, see this one which was half the size, half as nice, and sold for $1.1MM DC8178009

      And to show you this asking price is not outrageous, check out DC8214693 – smaller house, much, much older, and it sold for $2.15MM. Also, check out this one which sold for $2.6MM DC7986871. I can guarantee you this house will fetch $2.5MM and it is worth every penny. Some lucky buyer will get this incredible house…

      • justinbc

        Yeah, this house is beautifully done, I’m a bit surprised by the hate (I’m going to ignore the Eastern Market vs Barracks Row ridiculous comment). There’s a wonderful attention to detail here that helps tie the renovation together throughout the whole property, it’s really nice. My only real complaint would be in paying $2.5M for a house with siding all around rather than brick. (Also Viking ranges perform terribly after just a few years, if that, so I would want to replace that ASAP.) I will say that I had to LOL a bit at the thought of using Carrera marble counter tops for the laundry folding station.

  • DC8214693 and DC7986871 are over 7 blocks away and in a much better area of Capitol Hill. These properties are not a good comps. DC8178009 is on the same block and sold for 1.1, this is a good comp. I’ve been a real estate agent for 20. Trust me this home is overpriced. My clients fall for this trap all the time when establishing a list price for their home. Comps in the city are typically set base on comparable homes sold within a 3 block radius.

    Not that it matters, but the practice of dividing up the city into what I like to call sub-neighborhoods is as old as the city itself. Capital Hill is made up of the following sub-neighborhoods Eastern Market Capitol Riverfront, Congress Heights, Hill East, Hillcrest, Barracks Row. Over the years the size and shape of these sub-neighborhoods has changed has one area becomes more desirable. DuPont Circle is probably the best example, I often see listing for homes as far east as 14th nw listed has being in DuPont.

    Also, from tme to time new neighborhoods pop up, mostly for marketing purposes…developers want to set a tone for the ares of DC they are investing in, think Noma, Union Market, and H St Corridor.

    Bottom line, Eastern Market is the most desirable area of the Hill and home prices are generally higher for this reason. If this house was located in Eastern Market it would bring a higher sale price, however I’m not convinced it could fetch 2.4mil.

    This developer has a lot of inventory on the market, much of has been on the market for 200 plus days. Ditto is working with a new agent that likely does not have the experience necessary to help them set realistic prices. This is often the most difficult task when working with a client, everyone wants 1mil plus for their home. The fact remains that the home is only worth what the market will pay.

    • Are you serious? I am an agent too, and live on the Hill. This house is 0.3 miles from Eastern Market! It’s in the Brent school district and it’s two blocks from Eastern Market metro. Do you really think an appraiser would not look at DC8214693 as a comp?

      There have been a handful of houses sold on the hill that are this big. In addition, there has probably been one NEW house of this size on the Hill, and it sold for $2.8. DC8086711.

      But, OK, let’s say you are right and the only good comp is the house down the block (DC8178009). That house sold for 453/sq ft, which would put this one at $2.2M, without even considerign the quality of finishes and the fact that this house is new, so I still don’t understand your chain of tought.

      Ditto’s houses are always priced at record-setting prices, and they may sit for a while, but he makes record-setting sales. For example, would you have believed that these two would sell for ~$1.3M on 13th and Constitution: DC8078724, and DC8079370? You would have probably said they were overpriced because nothing has sold there for that much, but he managed to get it…

    • justinbc

      Sorry, but you lose any possible credibility as an agent if you claim that Hillcrest and Congress Heights are part of Capitol Hill. Even Hill East, which steals part of the name, is not part of Capitol Hill, but at least that one is close to it.

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