GDoN Revisited by Hipchickindc – 800 Geranium Street, NW

DC8535180 - Exterior

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: 800 Geranium St NW
Legal Subdivision: Brightwood
Advertised Subdivision per Listing: Brightwood
Bedrooms: 3 Baths: 2.5 Parking: Driveway/ Off Street Ownership: Fee Simple
Original List Price: $440,000.
List Price at Contract: $450,000.
List Date: 01/16/2015
Days on Market: 4
Settled Sales Price: $450,000.
Seller Subsidy: $10,180.
Settlement Date: 2/20/2015
Bank Owned?: No Short Sale? No Estate: No

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

With median price for attached townhomes in the District of Columbia hovering in the high $500,000’s to low $600,000’s over the past few months, it is refreshing to see a move in ready fee simple home settled in the mid $400,000’s with closing help. Note that the listing moved quickly, at four days on the market.

Currently, there are a total of 18 fee simple properties actively listed priced under $500,000 in NE DC., in various states of condition.

The listing agent for this sale was Morgan Knull with Re/Max Gateway. Amy Wease with Dwell Residential Brokerage represented the buyer in this transaction.

10 Comment

  • Color me surprised. I thought this would go for much less. I would prefer to see demand for these hideous boxes drop to the point where the incentive is to demolish them and put up something aesthetically pleasing, but I guess some people will pay a lot of money to live in an ugly house.

    • Sure, it’s ugly, that much is obvious. But pray tell, where else in DC can you find a similarly-sized house 5-10 minute walk from the metro? It’s rather myopic to blame the owners for paying this much money for this house when that’s just the economic reality of DC real estate.

      • Not blaming anyone really, the price is what the market dictates. You’re right that a house is composed of a vector of characteristics with each potential buyer placing their own set of weights on each characteristic according their preference set. Personally I’m just surprised how some buyers weigh metro accessibility vs. extreme aesthetic deficit. Sure, there are not a tone of properties on the market at 440, but there are options. I also think aesthetic problems have an external cost borne by the neighbors who have to look at the property and who’s property values are affected by proximity.

      • you mean where this side of the river. But this is a great value buy.

    • It located in Takoma, close to the metro. The housing stock there is diverse. But it remains one of the last safe neighborhoods to buy houses under $500k. I don’t think that will last long as well, this was walking distance to downtown silver spring and old takoma park. Location is often far more important to people than asthetics.

    • HaileUnlikely

      I live on this block in a similar house. Say what you will about aesthetics, but houses like these and neighborhoods like this are what enable adults who are not fantastically wealthy to own a home that is not a 400 square foot studio and avoid getting priced out of the city. If you have a problem with that, sorry.

  • This is actually in Takoma, but the legal subdivision is brightwood because of the weird boundaries with DC real estate. It should be noted Takoma is literally the last SAFE neighborhood with houses below 500k, and walkable amenities nearby. I do not expect that to last for very long. So people do not buy the most attractive house just to live in a nice neighborhood for under the $500k+ rate in the rest of DC. In my opinion, that is just being smart.

  • Also agree that this ISN’T the only relatively safe neighborhood in DC with low-priced houses – there are others!

    Sure, it is an ugly house. But it has enough spacious rooms inside, and is not SO ugly outside, that one could make quite a nice house from it with interior renovations and exterior sprucing up and landscaping. Which is not true of every house, but this one struck me as quite workable. And it isn’t so highly priced, so you could spend some money on improving it over time and not feel like you were over-improving it, that is, putting in more $ than you would get back when you sell eventually.

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