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Good Deal or Not? “gutted down to the shell in 2007” edition (owner request)

by Prince Of Petworth May 20, 2011 at 1:00 pm 66 Comments

This condo is located at 1200 Euclid St, NW:


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The Web site says:

“Just 4 years young, this boutique, 4-unit building was completely gutted down to the shell in 2007; every appointment and all new systems, including Central AC and heat, were installed.

You have the entire 1st floor of this rowhouse to yourself – this is not an english basement! Upon entering, you are greeted throughout with luxury – 9 foot ceilings, gleaming, hardwood floors, a neutral paint palette and well-placed, recessed lighting.”

You can find more info here and photos here.

$519,000 (Condo fee: $265/mo) sound right for this 2 bed/2.5 bath condo?

  • anonymous

    if they gutted it, why on earth did they leave the vents or whatever exposed? it’s not some edgy loft space, it just looks TERRIBLE.

    • photodork

      A lot of times it is to keep the ceilings high, which it seems to do in this case.

      • Anonymous

        Right, because despite the reassurances of the ad, this IS an English basement unit (although a very bright one).

        • Anonymous

          Looks like steps up to this place, not down like most English basement units i am familiar with. Do english basements have that much patio space out front?

          • Anon

            Not an English basement in the traditional sense because the side of this house is at a different grade than the front. All of the windows here are of normal size and at normal height (there are none on the Euclid side of the property).

      • anonymous

        right, but can’t they just get more innovative with the architecture? my apartment has uneven (but high) ceilings that seem to be a result of covering stuff. it just seems so cheap and lazy.

    • JOlsen

      Agree, looks really out of place with the space.

  • dreas

    Tired of seeing condos/houses for sale with a crib in the second or third bedroom. I know there’s no way of knowing *why* they’re moving, but I always assume it’s because they have a kid and that depresses me.

    • !

      Usually it’s because the room is too small for an adult’s bedroom, which would become painfully obvious if they staged it with an adult-sized bed. Setting up an office in there is another, though less frequently used, tactic.

    • Anonymous

      From what I’ve seen lately, it’s because they are moving up the hill to Petworth where the grass really is greener, and you get more house for your money.

  • petvet

    Uh, if you have to have a chair from your living room halfway in the kitchen to fit, then no, it’s not a good deal. And the exposed vents? awful – tells me the builder was cheap.

    • Tres

      The issue is the furnishings/layout they chose. Of course, it’s still a tiny space.

  • Hipster Harry

    Ugh. Sometimes I hate this city.

  • scarecrows NOW

    i wouldn’t want my kid living in that neighborhood either.

  • caballero

    If you absolutely need to live in that part of CH, go for it. But you can you can buy a house with similar features and 3x more space for the same price in Petworth.

    • anon

      +1.

    • ustreet

      This area is far more amenity-rich and closer to a lot more than where you would have to buy in Petworth.

      You could buy a huge place in Reston with a big backyard for the same as that house in PW. Food for thought.

      • caballero

        When I rented, I lived a few blocks away from this house, so I know the area well. But my house in Petworth is closer to the GA Ave. metro stop than my old apartment was to the CH or U St. stops, and I am about as close to the stuff happening on 14th and 11th Sts. as I was in my apartment. Yes, I’m further away from U St. and Adams Morgan, but I preferred to buy a bigger house in a more residential neighborhood than a condo closer to U St. We’re not talking about Reston…..the Petworth metro is probably less than one mile away from this condo.

  • A

    I realize it’s not really a basement, but I personally would prefer not to live on the ground floor, especially in a place I’m buying. In this price range you shouldn’t have much trouble finding something similar in the area on a higher floor.

    • photodork

      I think lots of folks would prefer to avoid all of the stairs of the higher floors too.

      • caballero

        What is with you? “A” said that s/he would “personally prefer not to live on the ground floor.” Why would you take issue with that, other than to be a pissy little contrarian? You sound like a wishy-washy wuss.

        • photodork

          I was waiting for your retaliation…a little late, huh?

          (the name calling is especially mature)

          • Owner_here

            Thanks for the fire fellas but let’s leave the fighting to other topics like bike riders and lying to the police about being assaulted.

    • !

      I’d prefer not to live on the ground floor as well. ?having to climb stairs is better than being an easy target for break-ins.

    • A

      to be fair … I think photodork was just trying to say other people might have other preferences, not saying that my preferences were “wrong”

      that said, I think my preference against living on the ground floor is more common :) (plus if you don’t like stairs you can get a place in an elevator building)

      • caballero

        You probably aren’t aware of this, but Photodork habitually makes innocuous comments to dilute the impact of what people say. If I were to say that I personally enjoy looking at green houses, he would say that some people prefer to look at blue houses. He’s a troll.

        • photodork

          Talk about the pot calling the kettle black!

          • caballero

            You say NOTHING of substance on this blog. Most contributors offer their reasoned opinions (some strong, some mild) or provide information. That is what makes this blog a valuable resource. Why don’t you contribute to the discussion? Man up.

          • photodork

            Yes, your personal attacks and name calling are SO valuable to the other readers.

            Me thinks you need to stop worrying so much about what others are saying…5 of your 7 posts on this thread alone are either contradicting what others are saying or personally attacking another internet tough guy (me)

          • Tres

            Damn, you could cut the sexual tension with a knife.

          • porkchop_sandwiches

            Seems to me that cab really likes to diss photodork and attempts to either lure him into disagreements or just be plain immature with names: “Wuss” and “Troll” in this post alone. Give me a break! OP is trying to get some commentary on a home for sale, and while I appreciate that caballero doesn’t think that CH is worth his money – getting into a slap fight isn’t doing any good. Only been reading for a few months, but convince me otherwise. Grow up dude!

          • What he

            I’m not entirely sure that troll is inappropriate when describing photodork.

  • jm

    hahaha my work blocks this website because it is categorized as “Sex” apparently. maybe this was a brothel before they gutted it and just changed the website?

    this the first time a completely non-questionable (I assume) website got blocked for me…

    • textdoc

      Same here, and with the same “sex” reason listed for the blocking!

    • Kallie

      that happened to me too. got a good laugh out of it. maybe this condo is just really sexy looking?

    • Chalk

      Same, I’ve never been blocked from a site before. Oh well.

  • Owner_here

    Hey thanks for all the feedback so far. For all second bedroom is full sized (12×15) with it’s own bathroom and walk-in closet. Decision to move is work relocation out of state. We have loved living in this neighborhood.

    • dreas

      Thanks for indulging me and my comment. Glad to know that you’re not fleeing to the ‘burbs as soon as you had a kid. Best of luck with the move!

      • Owner_here

        Wouldn’t have asked PoP to post if I thought would be all glamorous praise. Just didn’t want all commentary to be based on conjecture and assumptions about the reason for leaving. Thanks for being constructive.

        • !

          Sorry I jumped to conclusions about the bedroom size– I’m just so used to seeing that, and the furniture made it look like it was professionally staged.

    • Anonymous

      I have kids and live on this block. There are a lot of us in on the block. 5 families that I can think of with kids 10 and under. If you bought the place and left the crib in the room you would not be alone. Sorry the owners are leaving.

  • Andy(2)

    Second the comments about the vents – ugh!
    Seems a bit much for the size of the space and the location. Petworth is just as safe (if not safer) and you could get a third bedroom for the same price – maybe even a whole house.

  • Sherman

    I would much prefer to buy this house: http://www.redfin.com/DC/Washington/1010-W-St-NW-20001/home/9876181

    Same price point, not far away, but — in my view — a much better location. Plus, you have your own house with no condo fees, and no noise of people walking on the floor above you. Apparently within 25 sq ft of same space.

    Not good deal. Something closer to 2008 sales price — 480-490 seems likely. Good luck seller, though… the market does seem to be heating up.

    • ustreet

      Except 1010 W is $20K more, has one less bath, and no parking.

  • Jeff

    The question posed is whether this is a good deal given the context — a 2bed/2bath condo in CH that is close to U St. and not too far from Adams Morgan. This involves assessing how much similar condos sell for in the same general area. Saying that a 3-bedroom house in Petworth, or a 5-bedroom in Bowie, or a palatial estate in West Virginia can be had for a similar price is irrelevant. Not only is the context different, but a person who is interested in this condo probably has absolutely no desire to live in a house in Petworth, however lovely and practical that may be.

    • photodork

      +1000

    • porkchop_sandwiches
      • A

        I like that Clifton St one. Similar to this place, but I don’t think on the ground floor.

        1425 Euclid seems really overpriced.

    • caballero

      True, one way of responding to this post is to weigh the merits of the property relative to similar properties within a small geographic radius.

      But not all the readers have that information or are particularly interested in that level of detail. I, for example, cited Petworth because I live there, but it is also a nearby neighborhood that invites some comparison. And the fact that this same property would fetch a much lower price in Petworth, just over one mile away, is perhaps of some interest to some readers.

      • Anonymous

        A mile can mean a lot to some people.

        • caballero

          Are all the vacillating dimwits visiting PoP today? Can’t you people read? Of course a mile can make a difference. I said it is “perhaps of some interest to some readers.”

          Had I read this website more avidly when I was searching for a house, I would have settled in Petworth earlier than I did. But it took a lot of searching and neighborhood comparisons before I decided to buy there. Heck, it wasn’t even on my radar at first, but I stumbled on the neighborhood eventually. Maybe a reader who is currently interested in CH will do the same because of what they read from people like me.

          • Anonymous

            are you neener? cuz you’re kinda an ass just like neener.

    • Andy(2)

      Jeff those looking at this property would likely look at all properties for sale in that area in the 475-525 price range. Some would be condos and some single family homes. Looking at redfin it is priced within others – though at the high end. For those comparing what it’d buy in terms of single family homes – if you go a few (10) blocks north you can get a single family home for about the same. Granted the qualit of fixtures and finishes is less – the trade off is space.
      http://www.redfin.com/DC/Washington/1430-Perry-Pl-NW-20010/home/10015084 OR http://www.redfin.com/homes-for-sale#!lat=38.92910929680115&long=-77.02958059240723&market=dc&max_price=550000&min_price=475000&num_baths=2.0&num_beds=2&v=6&zoomLevel=15

      If moving quickly – drop it down $10-15K and you’ll sell quickly and for near asking.

    • anonymous

      “a person who is interested in this condo probably has absolutely no desire to live in a house in Petworth”

      really? I’ve lived here for 14 years and in my mind these neighborhoods are pretty similar and not that far apart.

  • joker

    Overpriced, by a minimum of ~20 K.

    At $532 sq/ft you are $17 a sq/ft higher than all the comps currently on the market in a half mile radius while also not being the nicest on the market, and almost $30 sq/ft higher than all the comp sales that have transacted in the past 3 months.

    Too close to Sherman Ave for my liking although there will be some urban pioneers here who won’t care.

    The exposed ducting, i.e. “loft” style is hideous and never works in any situation outside of living in converted warehouse in NYC. It just screams “cutting corners”, and “cheap”. I would deduct 15K off my offer just for that.

    I would bet you lunch that the place goes for anywhere between 20-29K less than this price.

    $265 a month condo fee in a small 3 unit building that is supposedly brand new and desn’t have any amenities (pool, workout area etc) is kinda high.

  • Anonymous

    Way overpriced…other condos in the area with much more have gone for much less.

  • Tres

    I think it’s just a bit too high to move. It’s not at a price that I that lets buyers know the seller really wants to sell. I mean, you can list over what you want, without scaring away offers.

    • photodork

      Good point. I don’t think it is necessarily high, but also not aggresively priced…

  • Extra Information

    The seller bought the property in December 2008 for $479k. http://www.redfin.com/DC/Washington/1200-Euclid-St-NW-20009/unit-1/home/12530402

    • zcf

      $479K seems more reasonable, but I personally would never buy a basement unit.

      2 of my neighbors just sold there units. 1 sold an 840 SF 2 BR/1 BA in MtP with similar finishes for $425K. Another is in the process of selling a 2 BR/2 BA with parking for $489K. The unit has parking. Both units are in small boutique condo buildings.

      I’m guessing the seller has priced the unit at $519K in attempt to break even. He has to pay a commission to the agents, and 6% of $500K is $30K..

      • zcf

        *their

  • Anonymous

    The back-and-forth between the Columbia Heights people and the Petworth people on this thread is hilarious, considering that both neighborhoods are both obscenely overpriced for what they offer (soullessly and cheaply renovated living spaces butting up against the worst of the city’s social ills, all for a massive mark-up).

    I guess Columbia Heights wins because the people who live there don’t have the massive inferiority complexes of Petworth residents, who are forever petulantly waiting for Georgia Avenue to have its H Street moment in the sun.

    • columbia heights resident

      “soullessly and cheaply renovated living spaces butting up against the worst of the city’s social ills, all for a massive mark-up”

      +10000

  • Disagree

    Petworth at least still has a few unrenovated houses that can be soullessly renvoated by whoever buys them—who would then still be getting a finished product for less than Columbia Heights costs.

  • Disagree

    Er, soulfully.

  • eli

    I’m pretty sure my friends used to live next door to this place back in 2001-2004 or so. And this house was a crackhouse pre-2007 renovation. Times have changed.

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