Sold in 3 Days – 1534 1st St, NW

Good Deal or Not Revisited (GDoN-R) is a weekly post that reviews the settled sales data of a recent individual real estate transaction in the District of Columbia. Each post is intended as a case study and a snapshot of the real estate market at a particular moment in time. GDoN-R generally posts on Friday in the late morning.

GDoN-R has been written exclusively for PoPville since 2009 by Suzanne Des Marais. Suzanne is a practicing Realtor with the 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 Smartcharts by Showingtime. Information is deemed reliable but not guaranteed.

Featured Property: 1534 1st Street, NW
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Old City #2
Bedrooms: 3 Baths: 1.5 Parking: Street Ownership: Fee Simple
Original List Price: $644,900. List Price at Contract: $644,900.
List Date: 2/14/2017 Days on Market: 3
Settled Sales Price: $600,000.
Seller Subsidy: $0.
Settlement Date: 4/24/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

Located just south of Bloomingdale in Truxton Circle, west of NOMA, and east of Shaw, this Formstone coated Victorian settled more than 6% below list price. These Victorians tend to be smaller in scale than their larger cousins in Bloomingdale, however, they are in close proximity to the New York Ave Metro, the Bloomingdale Farmer’s Market, Big Bear Café, and the numerous new restaurants in the area.

Truxton Circle was a bit overlooked during the big renovation boom of the (Pre-NOMA development) early to mid 2000s, so although there are plenty of renovated properties being sold, houses in need of TLC can still be found.

Whereas a few years ago, $600,000. was a benchmark for “up and coming” neighborhoods, that now seems like a bargain in relation to the increasing seven figure sales in surrounding neighborhoods.

That said, a petite 2 bedroom 1.5 bath updated home with a porch and fenced yard sold on the 1500 block of 3rd St NW recently for net $579,500. A house on nearby Bates Street is under contract with a list price of $575,000.. It was marketed as an “Investors Dream” with “Condo potential”.

The listing agent for this property was Monica Daniels with Wisdom Realty, LLC. Per the listing, Ms. Tracey Williams, also with Wisdom Realty, LLC, assisted the Buyer as a sub agent of the Seller.