GDoN Revisited by Hipchickindc – 1313 Emerald Street, NE

DC8333186 - Exterior (Front)

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: 1313 Emerald St NE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill East
Bedrooms: 3 Baths: 1.5 Basement: No Parking: Street Ownership: Fee Simple
Original List Price: $575,000.
List Price at Contract: $575,000.
List Date: 4/30/2014
Days on Market: 3
Settled Sales Price: $630,000.
Seller Subsidy: $2500.
Settlement Date: 5/15/2014
Bank Owned?: No Short Sale? No

Original GDoN post is: here.

The original listing can be seen here: here.

Emerald Street NE is a one block long street tucked in amongst the single letter streets between Maryland and Tennessee Avenues, a few blocks south of H Street NE. Most of the homes on this block are a smaller scaled basement-less version of the bay front brick Victorians found on surrounding streets.

Not surprisingly, this area has kept pace with the rising market values throughout the city. This recent renovation is the highest price paid on the block since 2011. There were two other sales on the block this year, at $502,900. and $571,000.

A testament to the frustrations of buyers struggling with extremely tight active listing inventory, the 20002 zip code had nearly half the typical (5 year average) number of active listings for the month of April 2014. Median sold price for zip 20002 in April 2014 was $501,750.

The listing agent was Uzi Ogbuokiri of Long and Foster. The buyer was represented by Peter Grimm of Prudential PenFed Realty.

4 Comment

  • I went to see this home. It was beautiful but had some issues that just don’t justify the crazy price which I knew it would command.
    Emerald Street was very narrow and had no parking on it after work, so you can imagine driving around and around looking for a parking space in complete frustration. The thought of doing this would be too much for me. The 1/2 bathroom was incredibly narrow and you had to squeeze past the sink to get to the toilet – anyone over average size would simply not fit. The kitchen was rather simple and it seems they ran out of ideas and just left it. The back patio was tiny.

  • Meanwhile in Trinidad, similar size homes are selling for over $700k (see 1213 West VA Ave). Crazy!

    • 1213 W VA Ave NE is not comparable to Emerald street. The former is 2020 sq ft and Emerald is around 1300 sq ft. Let’s not compare apples and oranges. The per sq footage price of the W Va ave place is pretty good (admittedly I have not seen inside). In my view Emerald St could have gone for considerably more – it’s starting price was on the low side and even with the success of the bidding war inducement price tactic, it could have sold for more. Check out 420 5th St NE which is very comparable to Emerald St NE (except for few blocks location – inside layout and square footage v similar) and which listed at 749k and went off the market under contract in a matter of days ….

  • This place certainly looks beautiful from the outside, and is in a great setting. The price is certainly not cheap, but then that is the nature of the real estate game – in times of high demand the price is always going to be ‘challenging’ to buyers, esp. if a lot of work needs to be done – c’est la vie!

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