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Good Deal or Not? “The size is deceptive” edition

by Prince Of Petworth July 5, 2011 at 1:00 pm 46 Comments

This home is located at 406 K St, NE:


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The flier says:

“Open House cancelled! accepted offer! Quality renovation 4 years young. The size is deceptive. Deep house w/ high cielings, open LR & DR that sweep back into an open table space kit, w/ granite and SS apps, ending w/ a half BA & large laundry room. Go up the modern and open staircase to 2/3 BR & 2 full BA. Huge closets in all BR’s. Gleaming Brazilian cherry hrdwds. Parking! Blocks to H st, 2 metro”

You can find more info here and photos here.

I know the description says “accepted offer!” but the listing has no mention of it under contract. So, does $559,000 sound right for this 2 bed/2.5 bath?

  • caballero

    The size is deceptive? Oh yeah, baby! That is one LONG, LONG house!

    • Denizen of Tenallytown

      But is it girthy enough?

  • JME

    Please. Can you say “overpriced”? or how about “dream on”?

    • Kev29

      That neighborhood is sh*t hot right now. And I guess it wasn’t overpriced because someone is about to buy it.

      • DC Dude

        Super ‘speculative’ hot, a lot riding (literally) on the street car development. I hope it happens but with it getting pushed to 2013 and all the bureaucracy garbage surrounding it, I’d be a little hesistant. The house is nice but mid-500s seems a bit high

        • Kev29

          I’d say that the Harris Teeter on 1st&M and H St in general are both way more important than the street car to this area’s rise in home prices. What would this particular neighborhood even need the H St line for? To get to to Benning Road quickly? You can already walk to two Red Line stations from 4th and K.

          • Anonymous

            i think people don’t quite know this area. i agree with you. proximity to metro is more valuable than the speculation of a streetcar.

          • Tres

            I read your comments down the page, and you pretty much made all the points I’d have thought of.

            I’ll just add, most quickly developing area of DC has got to be NoMa. Every week you go back, you’ll see major progress has been done on yet another building. It’s crazy how fast they’re going up. Building after building.

  • mmm

    kitchen looks like it is in a basement (although I don’t think it is). Can’t quite figure out the layout, but I don’t really like the kitchen or bathrooms

  • SF

    I would say overpriced, but it looks like they already accepted an offer–

    I think it’s overpriced because it’s 2 bedroom, 980 square feet, the renovation is nothing special, and it’s not super close to a metro station. But who knows. With the H Street construction finished, maybe things are going to take off even more.

  • Native American JD

    In that neighborhood? Overpriced by a mile. Invest in a good burglar alarm and a bullet proof vest.

    • H Street Landlord

      I just did the handy MPD Crime map and no homicides over the past year within 1500 sq ft of this address. Try again!

    • Kristen

      Native American JD – have you been to the area? “Bullet proof vests” are soooooo five years ago. And what “neighborhood” are you referring to? Just curious what you’d consider 4th and K to be.

  • WDC

    It’s funny to me to look through these photos and pick out the exact same elements of my own “six years young” home depot flip ahem! I mean renovation.

    Also, is in an effect of the wide-angle lens, or are the bedroom closet doors seriously warped?

    What can I say, I hope it does go for that price, as it would mean good things for the value of my property.

    • LisaT

      “It’s funny to me to look through these photos and pick out the exact same elements of my own “six years young” home depot flip ahem! I mean renovation.”

      Indeed! I’m wondering if the same flipper did this place, as that shower tile and bath cabinet/sink are exactly what I see every morning. The kitchen stuff is different though, so probably not.

      Sidenote: I’m worried about the fact that we have “cheap builder grade Home Depot” finishes and that when the time comes, our house will be a GDoN post and everyone will sit around on PoP trashing our property as “not a good deal.” :p

      • WDC

        Yeah, I’ve thought about the PoP critique my house would get. But over the years, I’ve done things like switch out most of the light fixtures (those orange pyramid pendant lights in the house above? I had those), paint, and upgrade the basement. The beige 12×12 tile in the bathroom, well… I’m not undergoing a bathroom reno just for aesthetics. It’ll have to stay.

        Up next, replace the kitchen counters. Add subtly artistic built-in shelving.

  • MJ

    I bought my 3 BR, 2.5 bath plus basement rental until for less than that last year in north columbia heights. The size was not deceptive.

  • MJ

    Oh, and the curb appeal is just fabulous.

  • anonymous

    wow. I wouldn’t pay more than 375 for that house in that neighborhood. ridiculous.

  • Anonymous x2

    It’s on a nice lot, but the front yard is an overgrown mess and the backyard is ruined by an enormous parking pad. They’ve got some serious balls asking that much for a house this small at that location– but if it did indeed go for that much, I know many neighbors who are going to be quite happy campers.

    • textdoc

      Good point on the front yard. I’m surprised the real estate agent didn’t tidy it up in some manner.

  • Bloomies

    It is an end unit that appears to have no windows on the “end side.” And it claims to be a 2/3 bedroom–with only 980 sq ft? I’m imagining that “third” bedroom is really an office because it has no windows on the side.
    It’ll be interesting to see what the offer is actually for on this house, but it seems obscenely overpriced. And not in a good “house porn” sort of way.

  • 1200BlockofFlorida

    Way overpriced. The renovation looks terrible(ie cheap). These two window-across little houses are small and cramped, despite the length, etc. 450k tops, and that’s pushing it. You’re paying for the fact that it is south of Florida, which is just silly. There are some grand houses on K St NE and this isn’t one of them. Skip.

  • Anonymous

    BUT UGLY

    • 14th St Heights

      +100. This house is hideous. Ugly open floor plan, and what is up with that staircase! That is utterly ridiculous! And let me guess, the folding closet doors are made of vinyl. How come only two very small windows in the back? Didn’t want to interfere with the lovely vinyl siding?

      • textdoc

        +1 on the staircase.

  • Anonymous

    way overpriced. BUT, i do think this is a great neighborhood. so much has changed around here in the last few years. and way more to come. this area is definitely the hottest real estate development area in the city.
    you may regret paying this much, but i’d bet you won’t regret the location.

  • another area

    I would say its way overpriced (I have a house over twice the size, new renovation in petworth close to meto) but a house is worth whatever someone is willing to pay on the open market. So I guess it was priced right. I thought it was amusing that the listing included a photo of Taylor Gourmet. By my estimation, Taylor is probably a good 10 block walk maybe further from this house. Its certainly not right around the corner…

    • Anonymous

      it’s a 1/2 mile to taylor.

  • Anonymous

    blocks to the capitol!

    • Anonymous x2

      It’s 1.2 miles to the capitol. Not terribly far, but similar to the distances from the far east end of H street.

      • Anonymous

        i guess. but it’s 2 blocks from h and 4th. so it’s about equidistance from h and 6th. everything further east is further away.

  • Anon

    When you price or buy something, you do so with an eye toward the future. If folks thought H Street were likely to go downward, they’d price this lower. The high price is because we all see where H street is heading. I think 560,000 is a lot of money, but I also think H Street, like much of the rest of the city, will be nearly unaffordable in the next 15 years. So, a major question is whether you’d be happy to have paid this much for this place in this location 5-10 years from now.

    • anonymous

      This is nearly a mile away from H Street. I wouldn’t consider it part of the neighborhood at all. That’s like me saying my dupont apartment is dependent on georgetown.

      • anonymous

        H street as I see the epicenter, anyway. I’m sure there’ll be a million people who feel the need to edify me on all the neighborhood boundaries of the city.

        • Kim

          It’s that far from what many consider the current epicenter of H Street. But, the west end of H will arguably be a more desirable place to live once the planned development is completed. Most of what is planned for this side of H is restaurants (instead of bars) and the groundbreaking on the Giant is what, this week?

      • Anonymous

        2 blocks.
        is distance really that hard a concept?

      • Kev29

        It’s a ten minute walk to 10th and H, where the action starts on that strip. Not bad at all. And the benefit of being on the west side of Near Northeast/H St is the proximity to Union Station and the amenities on the other side of the tracks in NoMa. You’re basically ten minutes walking to the Red Line, Harris Teeter, H St restaurants, Gallaudet, Stanton Park and the Senate side of the Hill.

      • SF

        What on Earth are you talking about? Google maps has it at .2 miles from H street. Do you mean a mile from the arts & entertainment district, closer to the Starburst Intersection?

        I am surprised that it is listed for such a high price, but the location really is outstanding. There’s no way you could get into Capitol Hill, at a similar distance to Union Station, for anything close to this. Also, K street goes right under the Union Station tracks and into NW. It’s one of the fastest ways into downtown.

        All that said, if somebody paid list for this I think they will have trouble getting that back anytime soon. There are much more attractive properties for much less in the vicinity, and they will need to put a lot of work into the yard and the interior to make it into something special.

        • Tres

          I think the point they could really brag on is “cheap for something this close to the capital”.

        • Tres

          Argh, comment meant for another poster.

    • Anonymous

      a block away you can get this place:
      http://www.redfin.com/DC/Washington/413-I-St-NE-20002/home/9895097
      much less.

      • Kev29

        And get one less bathroom, a tiny kitchen, half the lot, -130 sq ft, no parking…

      • greent

        That place is tiny. That kitchen is smaller than the one I had at my dorm at GW in 1996.

        The K St one may be overpriced, but rip out that huge parking pad, redo the back yard with a 1 car spot, and you have a nice house with front & back outdoor space, parking and a kitchen that adults can cook in. I’d take the K St place over that I St one.

  • eli

    overpriced! but i love this neighborhood and location, so i’m not shocked that it is under contract. surprised nobody else mentioned that it is 3 blocks from NY Ave metro–3rd & M NE, people. also there is the loree grand on k st & 3rd–they are going to have a nice restaurant and a small grocery store or drugstore from what i’ve heard. this neighborhood is pretty quiet and safe from what i’ve seen.

  • NE

    The listing states $570/sq ft, which is a little high for the neighborhood. I’ve been to 20+ open houses in that area, and the nicely renovated home (mostly done by Rainbow properties) go for $400-$450/sq ft. I think $570/sq ft will be the asking price in 3-5 yrs (street car or not).

    This area isn’t really H St (though the bars are a short walk). It’s closer to NOMA/NearNE. The Giant at 3rd and H is about to break ground. New restaurant called Tru Orleans is about to open at 4th and H. The Harris Teeter at 1st and M is phenomenal. The Flats (apartments above Teeter) are beginning phase 2 construction ahead of projections. New construction is going up kitty corner to the Teeter. NPR is rebuilding its headquarters. The Loree Grand is great, Kitchen on K is planned to open in the fall, new condos/retail are going in at 3rd and L. New apartments are slated for 4th and I. A new bikeshare might go in at 6th and H. The area is exploding left and right. So while the bars/restaurants are filling in H St east of 11th St, residentail rehab is taking care of everything west. This neighborhood will have Capitol Hill pricing sooner than people think. And “the crime” (if you check out MPD’s website) is less than several popular neighborhoods in NW. I see more cops on bikes in this area than I ever did in Logan/DuPont/U St.

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