GDoN Revisited by Hipchickindc – 243 Hawaii Ave, 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: 243 Hawaii Ave NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Bedrooms: 3 Baths: 2 Parking: Street Basement: Fully Finished Ownership: Fee Simple
Original List Price: $384,900.
List Price at Contract: $384,900.
List Date: 10/29/2014
Days on Market: 29
Settled Sales Price: $370,000.
Seller Subsidy: $0.
Settlement Date: 1/1/2015
Bank Owned?: No Short Sale? No Estate: No

Original GDoN post is: here.

The original listing can be seen here: here.

Comments to the original Good Deal of Not (GDoN) post spent a fair number of comments debating distance to Metro and the appearance of the property. Located to the north and west of Catholic University and to the east of the Old Soliders Home, the location is likely more drivable than transit-oriented, however it’s a great example of an opportunity to own a whole house for less than what many people pay monthly for rent in DC.

At the moment, in all of DC, there are a total of 143 listings for fee simple houses priced under $400,000. In the legal subdividion of Brookland, which includes this area, there are currently two active listings for fee simple houses under $300,000. (both in the search for any houses under $400k). Since July 2014, there have been a total of 36 sales of houses below $400,000. in the legal subdivision of Brookland, and another 12 currently under contract.

For perspective, at the sales price of $370,000. with a down payment of 5% ($18,500)., at today’s current reported mortgage interest rate of 3.8% on a 30 year fixed, a monthly payment is $1450.38 including interest, taxes, and homeowner’s insurance (but not including mortgage insurance, which may be required depending on loan product).

The listing agent was Ayana Douglas with Re/Max Allegiance. Sergio Herrera with Scout Properties LLC represented the buyer in this transaction.

9 Comment

  • At $370K, I think this person got a pretty sweet deal on a lot of space. I personally liked the house, even though the exterior is a bit characterless. 17 minute walk to Brookland Metro isn’t terrible.

    • HaileUnlikely

      The *length* of the walk isn’t bad, but this is not a walk I would want to do at night with any regularity. I can see this being a sweet deal for somebody with a car, though. (I live the same distance from Takoma as this is from Brookland and I use the metro every day. If you do this walk at 11 PM a couple times you’d probably see what I mean though)

  • Not bad. If I had to house hunt again, I’d definitely consider that. Quiet, green area.

  • We live just down the street from this house. My walk to the metro is about 12-15 minutes, which isn’t bad considering the actual metro ride from Brookland station to downtown is short. I think the fact that the house din’t have central A/C impacted the price. The house right next door sold for $410 and is similarly laid out/renovated. It’s a really great, quiet neighborhood with instant access to the MBT and a quick walk to all of the new restaurants on Monroe Street.

  • This was a great deal IMO. Everything doesn’t need to be close to a metro to be a “good deal” or for them to be expensive for that matter. People pay a lot of money to live in neighborhoods miles away from the closest metro.

  • I don’t think those monthly payment numbers are correct. $370K – 5% down at 3.8% for 30 years is $1638 a month P&I. Add T&I and you’re looking at something in the neighborhood of $1900 a month.

    • HaileUnlikely

      Definitely. I totally missed that. My mortgage is much less than this (<$300K), 4% APR, no PMI, and my monthly payment with taxes and insurance is $1510.

  • I think this would be a great deal for any fan of the Catholic University Cardinals Football Team! Literally be able to watch the games from your front porch!
    However, if you’re not a fan of the smell of the Fort Totten Transfer Station it might not be the ideal location. Whenever the wind is blowing from the North (which is quite often), this stretch of Hawai’i (don’t forget the apostrophe – or ‘okina – in Hawai’i) Ave does notice it.

    • I’ve lived on this street for 2 years, even closer than this house to the transfer station and literally have never experienced any smell whatsoever. I think people who went to CUA think there is a smell because from the athletic facilities there definitely is an odor that wafts over, but not on Hawaii Ave.

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