Sold in 53 Days – 1352 Randolph St, NW

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Suzanne Des Marais 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: 1352 Randolph St NW
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Bedrooms: 4 Baths: 2.5 Parking: Garage Ownership: Fee Simple
Lot Square Footage: 2700
Original List Price: $750,000.
List Price at Contract: $700,000.
List Date: 06/04/2016
Days on Market: 53
Settled Sales Price: $635,000.
Seller Subsidy: $0.
Settlement Date: 08/31/2016
Transaction type: Standard

Original GDoN post can be seen: here.

The listings can be seen here: here.

The original Good Deal or Not post for this listing showed up right after the property was listed, early in summer. At that time, the home was marketed for $750,000. It was later reduced to $729,900., and again to $700,000.

This property has a large lot, and some of the original details, such as the swing door to the kitchen, built ins, and lots of wood trim. In addition, the basement is paneled in knotty pine, considered an amenity back in the day.

For perspective, this is one of three homes to sell on this block since March 1, 2016. A home in similar condition sold in April for $700,000. An updated home sold in June for $835,000.

Sales in this part of Columbia Heights remain fairly consistent. From March 1, 2016 to September 15, 2016, there were 23 settled sales. For the same time period in 2014, there were 26 sales, and 28 in 2015. Median price for the timeframe in 2014 was $685,000., up to $727,000. in 2015, and at $700,000. in 2016.

The listing agent for this sale was Orin Luke with Fairfax Realty, Inc. Michael Goss with Source One Realty represented the Buyer.

8 Comment

  • Seems like these buyers got a good deal, but I wonder if inspection revealed something costly..

    • I thought the same thing. On the face it’s a good deal, but for unremodeled homes there’s really no way of knowing until you get into the walls (or at the very least in the house).

    • Definitely. A $115K drop between list price and closing price on a SFH in CH means major structural, mechanical, and/or asbestos remediation. Most likely a combination of issues. Hopefully this won’t be a money pit for the buyers. Even at $635K, it may be over priced depending on the cost to remediate the immediate issues and that won’t even cover the cost of making cosmetic renovations, like a new kitchen.

      • i dunno, i live in the area, and $635k seems about right. the two biggest expenses for this one will be refinishing the basement and adding central air, which would immediately jump it up to closer to $700k. then tack on all the little things that probably need to be done elsewhere. i think someone who wants a liveable house at a lower price and is willing to deal with the hassle of fixing it up over time just got a decent deal.

  • I don’t think this definitely reflects major issues with the house. It may just be the reality of a price for a house that needs an almost complete overhaul in this area of Columbia Heights that is really closer to Petworth than CH (despite what the tax records may say).. Though it appears livable in its current state, to make it really comfortable for a family, it will take a few hundred K of work. As the comps of redone places nearby is $800-$900K, mid $600 for a house that needs overhaul is about right.

    • Even so, as the post says, a house in similar condition just sold for $700k. That house had a worse kitchen, not as much original trim downstairs, and 1 fewer bedroom (though it did have a basement that wasn’t covered in paneling).

  • I like the original woodwork and the location is great, really close to Metro, Safeway, Homestead, Raymond Rec, Khip Thao etc. Nice gardens in front but I wonder if lead paint or skeezy neighbors sank the price.