GDoN Revisited by Hipchickindc – 159 V 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: 159 V St NE
Legal Subdivision: Eckington
Advertised Subdivision per Listing: Eckington
Bedrooms: 3 Baths: 3.5 Parking: Driveway/ Off Street Basement: Fully Finished Ownership: Fee Simple
Original List Price: $599,900.
List Price at Contract: $599,900.
List Date: 12/28/2014
Days on Market: 13
Settled Sales Price: $595,000.
Seller Subsidy: $0.
Settlement Date: 2/26/2015
Bank Owned?: No Short Sale? No Estate: No

Original GDoN post is: here.
The original listing can be seen here: here.

The comments on the original Good Deal or Not GDoN post led to an interesting discussion of the pros and cons of buying a home renovated by an investor.

This Eckington home is located a few blocks from the Bloomingdale commercial areas, which now include North Capitol Street (The Washington Firehouse Restaurant), First Street NW, and Rhode Island Avenue NW. This is a fee simple home with a basement, parking, and a porch and front yard. The interior has been completely updated with a new kitchen, baths, floors, etc.

Currently, there is only one active listing in the neighborhood for a house priced under $600,000., which is located on a busy street and reportedly suffered recent fire and water damage.

Since July 2014, there have been a total of 35 settled sales of fee simple houses in the NE Eckington neighborhood. These have ranged from $318,250 to $835,000.

The listing agent for this sale was Leo Pareja with Keller Williams Realty Falls Church. Daryl Judy with Washington Fine Properties, LLC represented the buyer in this transaction.

4 Comment

  • Prices are really schizo in this neighborhood. The house next door sold only a few months ago for 514. Neither had great remodeling choices but one was far worse. A house around the corner sold for 500 (although not as updated). About a year ago one really nice house sold for 500 and another crappy flip sold for 600 within days of each other. I’m guessing part of the bump for this place is the basement unit, but that does not look like it could get a CofO.
    It’s hard to tell what it will look like in a few years there. The houses are smaller than Petworth and have no yards. The foliage is not great. And it feels a little disconnected from the nearby attractions. That said, it’s very close to a lot of stuff and the Met branch trail makes it an easy bike ride to downtown, union market, capitol hill, and Brookland.

    • Comparing houses in Eckington to Petworth is about as useful as comparing Petworth to Forest Hills. Neighborhoods are all different, the housing stock is different and your money just doesn’t buy the same thing. My guess is that house seekers look at a place like this, then look at what places are going for just across N Capitol in Bloomingdale and see that they can save 20-40%. For lots of people N Cap is as big of a mental barrier as it is a physical barrier, but if that doesn’t bother you these prices make a lot of sense. I can’t think of anywhere else in the District right now where almost identical houses 2-3 blocks apart (many were actually built around the same time by the same builders) show such a price differential.

      • “I can’t think of anywhere else in the District right now where almost identical houses 2-3 blocks apart”
        I guess that’s why it’s interesting. I’m really curious to see if this will hold over, or if prices in Eckington will shoot up. On the one hand, it’s pretty much just as conveniently located as it’s adjacent and more expensive neighbors. On the other hand, I think geography, architecture, and foliage make it objectively less pleasant. I’m very curious to see how people price out these factors in the future.
        It’s useful to compare to Petworth simply because the prices are similar. I think a lot of people consider houses in these two neighborhoods.

  • Eckington is block by block. This is right in the middle and verifies the value of some recent sales. Things to the south and west and to the west will sell for more. Things to the east and south will sell for less.

Comments are closed.