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GDoN Revisited by Hipchickindc

by Prince Of Petworth January 29, 2010 at 11:00 am 11 Comments

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 1901 12th St NW

Original List Price: $645,000.

List Price at Contract: $645,000.

List Date: 11/02/2009

Days on Market: 10

Settled Sales Price: $650,000.

Settlement Date: 12/11/2009

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN Post is: here.

Recent Listing is: here. Virtual tour is here.

This was not a typical Good Deal or Not (GDoN) post in that it was already under contract by the time it was profiled. Given that it ultimately sold a tad over list price, it’s likely that there was more than one interested party. Listing agent Charlie Gaynor with City Houses notes that the property was renovated between 2000-2009, which suggests that it was an owner-occupant renovation rather than an investor rehab. I work with some great developers, so I certainly don’t dis all investor rehabs, but generally speaking, someone who is living in the property tends to invest a bit more on some of the finishes and appliances (note the sexy new steam dryer.)

The property was purchased last in 1999 for $113,000. with a $3000. credit towards closing costs. Ten years and a lot of work later, this relatively small end unit property with parking but no basement garnered a price reflective of significant changes in the neighborhood. For those of you left wondering how it compares to other recent sales in the neighborhood, here is a list of active listings, current pending sales, and settled sales within the past six months, within 1/3 mile from the subject property. (Note that active listings are in the first page or so. To see the settled sales prices, go to the later pages.)

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