GDoN Revisited by Hipchickindc – 1824 North Capitol St NW #2

by Prince Of Petworth July 29, 2011 at 11:00 am 16 Comments

Hipchickindc is a licensed real estate broker and a professional artist. Her official real estate bio is here and her art website is here. 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 Property: 1824 North Capitol St NW #2

Legal Subdivision: Eckington
Advertised Subdivision per Listing: Bloomingdale
Original List Price: $464,900.
List Price at Contract: $449,900.
List Date: 05/20/2011
Days on Market: 40
Settled Sales Price: $435,000.
Settlement Date: 07/28/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original Good Deal or Not post is: here.

The listing can be seen: here. Pics can be seen by opening the listing link and scrolling through the arrows on the main pic.

Per my disclaimer above, I am telling you now that this was my listing, and thus, I was involved in this sale. Back in May, shortly after it was listed, my very brave sellers sent PoP a reader request for “Good Deal or Not” (GDoN). As is sometimes the case, the comments were, shall we say, less than complimentary. I even tried (perhaps against my better judgment), towards the end of the 80+ comments, to pop in and say something nice about the place, and was subsequently shot down.

Continues after the jump.

In addition to living less than a block from the property, I have a bit of a history with it. Back in 2006, I had it listed for a few months, and when I moved to my current company, one of my associates at that time also listed it for several months. Anybody who was around the real estate business during that era probably recalls most buyers postulating as to when, not if, the market would completely crash and burn.

I won’t deny that having an address on a busy street kept the showing traffic limited. Had this home’s address been Seaton Place, which is the street that the majority of the property faces, I would have expected more agent showings. Open houses, however, were well attended.

Very fortunately for the recent seller and the new buyer, Bloomingdale has begun to hit a great stride. In addition to Big Bear Café and Windows, the presence of Rustik has perked things up. The Bloomingdale Farmers Market is a social hub for neighbors on Sunday. Rumors of new businesses in the works are fodder for hot gossip. The recently renovated Flatiron Condo at 143 Rhode Island Ave NW sold out in less than two weeks (represented by Urban Pace, the company I am affiliated with.) The competition in the neighborhood for homes this size and larger is fierce, and the current buyer of this property saw the benefit, regardless of proximity to North Capitol Street.

  • Eckington

    I live on North Capitol, north of this property 2 blocks and on the other side of the street. I find the situation with noise from North Cap to really be a minimum. The frontage road also makes for convenient parking and minimal traffic, for such a busy street. At Seaton, the road is substantially closer to being at grade, so I imagine the nose is more significant…

    I think I’d rather live on North Capitol than Rhode Island, New York Ave, or Florida, which are probably noisier, have traffic backed up most of the time, which leads to loud horns and sirens at all hours. North Capitol has its challenges too, the loud motorbikes are quite annoying, for instance. However, with my windows closed, only the occasional road noise is disruptive.

    Since houses are routinely selling in Bloomingdale for 500, 600, and 700k these days, I’d say the low 400s prices in the perception of inconvenience and noise rather appropriately. The good news for the new owners is that they got a great price due to an issue that really wont be that bad.

  • anon

    Nonetheless, it is still a bad deal.

    • Anonymous

      It’s not a bad deal. You people who believe, as an article of faith, that the market ought to be where it was 10 or more years ago make me laugh.

  • anon

    Beautiful house and architecture – at the mid 400s in Bdale, its a great deal. I think N Cap will improve and the house price probably discounted for the fact the street is loud and slightly undeveloped/sketchy at the moment. One hopes that with the firehouse turning into a restaurant, prices might go up.

    • Eckington

      This is a decent distance from the sketchiest areas of North Cap. I’d say from Randolph to the north is no more sketchy than most of the bloomingdale area.

      • Matt

        I agree. I live on this same block of North Capitol and wouldn’t consider it loud or sketchy. There is definitely a stigma attached to houses on North Capitol but there are also good reasons why they should sell at a lower price (less square footage on NW side, no parking). Either way, this price seems about right given where other homes on North Capitol have sold recently.

      • Matt

        I’m also curious whether people are actually familiar with North Capitol or just speculate about the street in general. This particular place is on a section where there is an over and underpass so traffic is incredibly minimal almost all times of the day.

        • Anonymous

          i know it really well as i’ve lived a block away for almost 10 years.
          i still consider it sketchy, although it has gotten much better.

          one thing you need to remember is that old impressions are hard to shake, even for those that live in the area. i have memories of seeing people shot there. seeing fights there, knowing people that were assaulted there. you probably don’t have those memories. i still see people walking around who have been arrested for violent crimes, so even if they’ve changed and are good people now, i know what they’ve done.

          also, “sketchy” is completely relative.

          and so is “loud”. i’m pretty used to it.

  • Anonymous

    A sucker is born every minute. Or in this case, every 5 years.

  • Anonymous

    personally, i like bloomingdale because of the houses, i don’t think i’d want a condo there. but to each their own. the price is certainly within a good deal for the area.

    • Bdale Person

      Just curious what your reasoning is for this? Aside from the fact that most of us generally would prefer a house to a condo.

      • Anonymous

        mostly it’s wild subjectiveness.

        i feel like the condo conversions don’t fit into the feel of a rowhouse neighborhood at that well. the thought of such a small condo association bothers me and i would be concerned about disagreements with so few people to iron them out.

        i think that being so residential and low density, a house is a better option.

        part of the appeal of this area is that neighbors are close to each other, but not on top of one another. they all have their own yard, stoop, porch, backyard. and they control what’s inside their own walls and under their own roof.

        it’s probably silly and naive of me, and i can’t explain it beyond that.

        • Bdale Person

          No not at all, I was just curious what your reasoning was. Thanks!

  • J&E on Quincy

    Sometimes I look at my yard and wish I had a condo-ha!

    I thought the original post comments were way harsh (although not atypical for POP posters). I really liked the inside photos, it looked like an excellent renovation for the asking price. To me, Bloomingdale is similar to Petworth in that everyone has a different opinion WRT to safety, value, etc. I’ve lived in PW for five years and I feel totally safe.

    • J&E on Quincy

      I also felt bad for Kate. I hope she told her fiance before submitting the GDON post!

  • textdoc

    “Back in May, shortly after it was listed, my very brave sellers sent PoP a reader request for ‘Good Deal or Not’ (GDoN). As is sometimes the case, the comments were, shall we say, less than complimentary.”

    I’ve seen MUCH more savage comments on GDON threads than on this one. It seemed that the negative comments were solely regarding North Capitol Street and/or the neighborhood, not the condo’s interior.


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