How Much Duke Ellington’s House Sold For After Six Days

duke-house

Hipchickindc (aka Suzanne Des Marais) is a licensed real estate broker. She is an associate broker with Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Real Estate Business Intelligence (RBI). Information is deemed reliable but not guaranteed.

Featured Property: 2728 Sherman Ave NW
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Bedrooms: 3 Baths: 2 Parking: Street Ownership: Fee Simple
Lot Square Footage: 1120 square feet
Original List Price: $499,000.
List Price at Contract: $499,000..
Original List Date: 03/06/2016
Days on Market: 6
Settled Sales Price: $550,000.
Seller Subsidy: $0.
Settlement Date: 04/11/2016
Transaction type: Standard

Original GDoN post is: here.

The listing can be seen here: here.

duke

The subject property exhibits a plaque stating that Duke Ellington resided in the home from 1919-1922. This raised the question in the comments to the original GDoN post as to whether famous inhabitants have an influence on the value of a particular property? (Which garnered the response from another commenter, “How many houses in DC did this guy live in? Seems Like a lot.”)

In this case, it appears that the sale price does not reflect the cache of its former occupant. However, there could be a great historic element to bring in to the marketing on the post-renovation side (if it was purchased by someone with the intent to renovate and sell, which we do not actually know.)

Settled sales in the immediate neighborhood around Sherman, between Morton and Barry Place, 11th-ish and Georgia) over the past six months have ranged from $285,000. for a one bedroom condo, to $1,150,000. for a 2 bedroom condo on the 700 block of Morton St NW. You can explore the list of settled sales here

The listing agent for this sale was Matt Paschall of Long and Foster Real Estate, Inc. Leslie White with Redfin Corporation represented the Buyer.

19 Comment

  • This seems like a decent deal when people are paying 1.15 million for a 2 bedroom condo on 700 block of Morton. I cannot believe the real estate activity going on with Morton St. Not just Morton St Mews, but the 3 popups, which are all condos going for crazy prices.

    • I do not understand spending 1.1 million to live in a condo a block from Park Morton. It’s not like someone able to afford that is priced out of a fully renovated SFH.

      • Hey, I totally agree with you, but apparently someone does?! Then this is pending too, 829k is also no small chunk of change: https://www.redfin.com/DC/Washington/763-Morton-St-NW-20010/unit-4/home/105227037

        • I sort of hope for the sake of sanity that the contract for that one isn’t at (or above) list price.

          • I agree that it seems crazy expensive for that area, but if somebody wants a condo that large with a private roof deck and parking, where else do you go? Logan/Shaw/U would be easily over a million for something like that.

      • Park Morton is being redeveloped in case you haven’t heard already.

        • Ah, but the current plan is for its residents to move about two blocks away, to the current Bruce-Monroe Park site. (Although at least the new development is supposedly going to be mixed-income.)

        • It’s been in redevelopment for ten years now. A significant chunk of public housing will remain at the site and more subsidized housing is being built nearby. For 1.1 million, I’m living somewhere else.

        • It’s still there right now and features people literally peeing (maybe pooping) against buildings so I still think 1.15 million is crazy.

      • it’s because you’re also a block from 11th street and a short walk to the metro.

    • The owners / future owners of these units can’t blame Obama or Bowser or any other governing body when they purchased a million dollar house next to a housing project. I am sure that the thought is that once you are in, you can promote or dictate change but that is indeed a gamble. Purchases like this is what caused a housing crisis a few years ago and it seems that history may repeat itself.

      • “Purchases like this is what caused a housing crisis a few years ago and it seems that history may repeat itself.” THIS is exactly what i am worried about. It makes me wonder if we should sell sooner rather than later although I’d like to wait out the PM redevelopment.

      • Disagree. Subprime is what caused the housing bubble.

        • Subprime was a big part of it yes, but there are also instances were people generally just overpaid, had buyers remorse and acted on it but to each its own. I am very wary of some of the price points in the city.

      • “Purchases like this is what caused a housing crisis a few years ago and it seems that history may repeat itself.”
        .
        this isn’t really true. the housing crisis was particularly acute in areas where people were buying multiple houses, income verification was non-existent, buyers were intending to sell within a year or two, and there was no restriction on the supply of housing. The only thing that might be true now is that buyers aren’t intending to stay long-term. Income verification could be better, but it’s not horrible right now. But I don’t think many buyers are simply looking to sell when the next big development down the interstate comes online. Top it off with price to rent ratios being more or less in line, and you see that what you have isn’t a housing bubble, but a demand side shift in preferences causing higher income people to purchase more expensive housing in the city.

        • Good analysis. I’m so sick of people and their “prices are high so it’s a bubble” as if it’s that simple.

  • That’s so cheap I might be ill.

  • … 550k? That’s it?!

    What’s the catch?

  • So cheap! And does the historical value equal any additional market value? (Have always been curious…)

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