GDoN Revisited by Hipchickindc – 1357 Emerald Street, 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: 1357 Emerald St NE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Old City #1
Bedrooms: 3 Baths: 1.5 Parking: Street Basement: No Ownership: Fee Simple
Original List Price: $599,990.
List Price at Contract: $669,500.
List Date: 9/15/14
Days on Market: 9
Settled Sales Price: $669,500.
Seller Subsidy: $0.
Settlement Date: 10/22/14
Bank Owned?: No Short Sale? No Estate: No
Original GDoN post is: here.
The original listing can be seen here: here.

Emerald Street is a one block long enclave between 13th and 14th Streets NE and around the corner from Lovejoy Lofts. It is bounded north and south by F and E Streets NE, so not far off from the H Street activity. It is within a 25 minute walk to three Metro stations (1.5 miles to Union Station, 1.2 miles to Stadium Armory, or 1.1 to Potomac Ave), or easy access to the bus lines along Maryland Avenue, and of course (someday) to the trolleys.

We revisited another sale on this block during the Spring market. My comment on that net $627,500. sale in May 2014 was that “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.” Currently, 1321 Emerald Street NE, is under contract with a list price of $683,500. The subject property is the highest sale price to date on the block.

The listing agents were Katie Wethman and Bridget Hodge of Keller Williams Realty in McLean, VA. Joan Cromwell of McEnearney Associates, Inc. represented the buyer in this transaction.

5 Comment

  • It’s cute how someone in the original GDON thread said it would be a nice starter home for a couple — a $600K starter home. Only in DC! (Or maybe Manhattan or SF too).

    • Considering the amount people are comfortable paying for rent: At O St Giant 2bd go for 3,500, for example, I’d think 600k is in the range of a starter home. The mortgage would be around that amount maybe less.

    • Well it’s a representation of today’s housing reality in dc. If you look at the costs of renting a 2bedroom apartment in any of the new apartment buildings in dc, the rent is pretty much on par as what the mortgage would be on a 600k home. Also the other places you mentioned 600k wouldn’t even get you a 1 bedroom apt.

      • +1. I understand that housing prices in D.C. were depressed for several decades and that this factor impacts people’s expectations. But I’m still amazed at what people consider unreasonable for houses in the center of one of the most expensive cities in the richest country in the world.

        • I understand all of this, but it doesn’t mean I shouldn’t bat an eye when a 2 or 3bd/2ba with no yard next to homes with drug dealers and degenerates sells for 800-900k after a quick flip. The apartments are high because people are willing to pay that much to rent which is sad to me. It ultimately makes affordable housing very hard to find. I’m lucky to have bought in an up and coming area, but my first home was far less than 600k.

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