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GDoN Revisited by Hipchickindc – 1421 3rd Street, NW

by Prince Of Petworth April 26, 2013 at 11:00 am 12 Comments

1421-3rd-Street-Northwest-e1361364142386

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: 1421 3rd St NW
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Old City #2
Bedrooms: 3 Baths: 2.5
Living Area Square Footage per Tax Record:1320
Lot Size per Tax Record: 900
Original List Price: $449,000.
List Price at Contract: $449,000.
List Date: 2/15/2013
Days on Market: 7
Settled Sales Price: $505,000
Seller Subsidy: $10,000.
Settlement Date: 04/05/2013
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listing can be seen: here. The virtual tour can be seen here.

Last week Good Deal or Not Revisited (GDoN-R) looked at living large in Trinidad. This week we review a recent sale of a petite house in Truxton Circle.

As noted in the original GDoN comments, this property has a tumultuous sales history over the past decade. The earliest record of a sale in public records was twenty years ago when the home sold for $30,000. Here is what the property looked like in 2005 when it sold for $185,000. In 2007, the multiple listing service shows an attempt to market the property at $620,000. It eventually sold for $589,000. (per public records), and was foreclosed upon shortly thereafter in 2008. It sold again as a foreclosure at $225,750. in 2008. Public records report another sale in 2009 at $484,093.

If you think this sale was expensive per square foot, recall nearby 455 Q St NW, a recent GDoN-R, which sold for $755,000. Tax records identify the living area square footage at 1330. The lot size was larger at 1425.

The listing agent was David Thomas of RE/MAX Allegiance. Ty Voyles of Keller Williams Capital Properties (per the disclosure above, this is the same brokerage company that the writer is affiliated with) represented the purchaser.

  • Anonymous

    Wow. half a million. next to communist dunbar…

    nothing can shock me anymore

    • babble

      But Communist Dunbar will be blown up in a year, and this house will be next to a huge football/track open area. Also, O Street will be opened back up, so this block is going to look very different in 2 years.

      • Anonymous

        good to know, babble

    • Anonymous

      Communist because this was the first public high school for black kids? Your insight is invaluable!

      • Anonymous

        hahaha, no. i’m black and appreciate the history of dunbar. it’s the design of the building to which i refer. it’s just awful.

        • Anonymous

          Sorry – didn’t get the joke! :)

          Agreed on design though – old building is atrocious!

          • Anonymous

            apparently Dunbar agrees too! :)

      • anon

        wow… jump to conclusions much? pump the brakes dude

  • Anonymous

    So from 2005 to 2009, the property value increased from $185k to $589k . . . and then it’s foreclosed upon “shortly thereafter” (appears to be about a year) for $225k?
    Wow. How is a property sold (and presumably appraised) at $589k one year foreclosed upon for less than 1/2 the price the next year?

    • The foreclosure sale was in 2008 – right in the middle of a real estate panic in which nobody knew where the bottom was. It was happening everywhere.

  • I will have to restrain myself in a couple of years when the house values in Trinidad pull an “05”.

    I know all of you out there who are buying, just bought or want to buy in Trinidad are telling yourself “it will be different” this time, but thats what people said in 2000-2005 when the median house value in Trinidad more than doubled from 165K to 505k. Then decreased 30% to 356K by 2009.

    What is it as of a few months ago? 506K.

    People paying those prices to live in Trinidad are going to be wondering why they did in a year or so when the housing market cools.

    • Anonymous

      um, this isn’t in trinidad

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