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GDoN Revisited by Hipchickindc – 1480 Harvard St NW

by Prince Of Petworth February 3, 2012 at 11:00 am 8 Comments

Hipchickindc is a licensed real estate broker. She is the founder of 10 Square Team and is affiliated with Keller Williams Capital Properties. 10 Square Team is a princeofpetworth.com advertiser. 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: 1480 Harvard St NW
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Original List Price: $549,000.
List Price at Contract: Looks like it was increased post settlement first to $560,000., then to $660,000.
List Date: 12/09/2011
Days on Market: 2
Settled Sales Price: $700,000.
Settlement Date: 01/27/2012
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Cash
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the main pic after opening the link and scroll through. In this case, there are more pictures than usual for a property in this condition.

I think everything I’ve written about the real estate market in DC over the past few months has read something like this…“blah blah blah SCARCITY blah blah blah LACK OF ACTIVE INVENTORY blah blah blah FOUR PERCENT (and lower) MORTGAGE INTEREST RATES.” For better or worse, that’s pretty much how it goes right now.

Continues after the jump.

In this situation, we’re (probably) looking at raw product for a developer. The outcome of this story is not unlike another recent Good Deal or Not Revisited (GDoN-R). On the back end of this deal, in this Columbia Heights location, a large renovated house might sell for a million dollars. Boutique condos are also likely to be desirable .

Per the tax records, it appears that this rather large house last transferred as a sale in 1994 for $105,000. In 2011, a family member took possession, possibly as part of an estate.

Thanks to commenter “Sir Douchy” on the original GDoN post for mentioning the cameo of this block in “The Day the Earth Stood Still.” I haven’t had a chance to check it out yet, but I’ll take your word for it. My personal favorite movie featuring DC residential neighborhoods (and aliens) is “Mars Attacks”.

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