Featured Property: 1224 Orren St NE
Original List Price: $299,000.
List Price at Contract: $299,000.
List Date: 07/10/2010
Days on Market: 3
Settled Sales Price: $320,000.
Settlement Date: 09/16/2010
Seller Subsidy: $5000.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN is: here.
The Listing can be seen: here. To see pics, after opening the listing link, click on the main pic and scroll through.
At only three days on the market and substantially over list price, clearly somebody saw the value of an entire updated house with a basement and parking. Given that the property sold over list, it is likely that there was more than one interested party.
I was happy to profile this property simply because this is one of those areas that has not been visited much in the course of Good Deal or Not (GDoN). Over the years, I’ve owned a property in Trinidad and represented clients for more than ten four-unit buildings in the neighborhood. Just like many other parts of the city, Trinidad has seen values head up and then back down, but it has generally not returned to early 2000 prices of sub-$100k.
While I haven’t personally lived in Trinidad, I have definitely had the experience of living in a gritty urban neighborhood because I could get the kind of space I wanted for what I could afford at the time. When people say that there are no affordable neighborhoods left in DC, they are often keeping their options somewhat limited.