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GDoN Revisited by Hipchicindc – 455 Q Street, NW

by Prince Of Petworth April 5, 2013 at 11:00 am 17 Comments

455-Q-Street-Northwest

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 popville.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: 455 Q St NW
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Old City #2
Bedrooms: 3 Baths: 2 1/2
Original List Price: $749,000
List Price at Contract: $749,000
List Date: 2/28/13
Days on Market: 3
Settled Sales Price: $755,000
Seller Subsidy: $0
Settlement Date: 3/29/13
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

Upon first glance, I was a bit surprised by the price for a house without a basement in this location, but after researching a bit, see that this is a Nantucket Holdings renovation from 2012. Even outside of this crazy short supply/high demand market place, Nantucket Holdings properties often sell for a premium. Nantucket Holdings sold the property in March of last year for $690,000. You can see the original virtual tourhere.

Continues after the jump.

I have no idea why the recent owner sold within such a short period of time, however, it is further testament to the intensity of the conditions of the current real estate market to see a literal appreciation of nearly 10%. It is also worth noting that the O Street Market development is well underway this year, in contrast to last. Even when development is highly anticipated, often the prices of real estate surrounding a project don’t seem to see the effects until it really starts to take shape. We also saw this around Columbia Heights a few year years ago.

The listing agent was Mark Schacknies of DCRE. The purchaser was represented by Ira Hersh of Long and Foster Real Estate, Inc.

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