Columbia Heights Row House Sells for $155K Over Asking Price

by Prince Of Petworth January 2, 2014 at 4:00 pm 17 Comments

Photo of 3000 Block of 11th Street, NW via Google Street View

“Dear PoPville,

We actually wanted to go try to buy this place [3021 11th Street, NW] for a rental, but it was off the market already before we could even get in. And with good reason, it got bid WAY up! It was initially listed for 525K. The final close was for $681,000.”

Ed. Note: You can see the virtual tour here.

  • gotryit

    They listed it low in order to get a bidding war going… so? $525K is low for that area.

    • Anonymous

      Yeah, I’m failing to see why this is newsworthy. Similar thing happened to us in Capitol Hill, except it got bid up to nearly $200k above list price. Some DC realtors are known for listing properties at artificially low prices to create a frenzy.

  • Anonymous

    Yeah, I actually think the seller lost some money using the bidding war tactic this time.

  • Anonymous

    Even if that’s over asking, it’s still a good deal. They’ll get their money’s worth.

  • Stephanie

    If only I had purchased in Columbia Heights instead of renting there back in 2006… :(

  • kyle-w

    My wifes doctor was debating buying a whole row of rowhouses on a street in Columbia Heights back in the 80s. It was $200,000, for 10 rowhouses. $20k each for full houses..

    • Anonymous

      That would be amazing.

  • Mr. Goat

    I wonder what it’s like to be able to make more than many folks earn in a decade simply through lucky timing of the purchase and sale of property.

    • Anonymous

      It’s called foresight. We enjoy it.

      • Debra

        +1 yeah, isn’t it great! That is how we got our beach house on the Jersey Shore!

      • I didn’t think I was going to like foresight, but now I totally enjoy it. Didn’t see that coming.

        I agree that luck and timing are part of it, but it also seems like some (though not all) of the people who are profiting on these houses also spent nearly a decade fixing up and maintaining a 100 year old house that is doing its best to collapse while at the same time investing in their neighborhood and community.

      • brookland_rez

        It’s called believing in this city and taking a stake somewhere in it where you can afford. You have to be willing to go into a neighborhood that no one else values and see the intrinsic value for yourself. Make the investment and work to improve the neighborhood and attract retailers. It’s really not that hard, it just takes a lot of work and an ability to think for oneself.

        • Anonymous

          Yup. I bought a foreclosure in a really bad neighborhood near H St, lived there for two years and sold it for double what I paid for it so I could buy in a much nicer area. Our second house needed work so it was priced significantly less than what other homes in the area were going for. Now we have it almost up to speed and still spent far less than what other renovated homes are selling for.

        • anon

          absolutely! you have to go where mainstream is not willing to go just yet.
          i got my 4 level row house in col hi when i was 26 for 325k in 2009, it is just off 11th street in a great location. i have to say that i studied that area for 3 years before i purchased and it had worked out wonderfully. as some mentioned i did spend much sweat equity fixing it up and modernizing as it is a 100yr old house.

          after this i got one in petworth also in the 300k range in 2012 which also turned out to be a great purchase since now half a block away people are buying for 600k.

          i think mostly you have to have a vision , foresight , patience and you must see the potential of what some sweat equity can do.

          • anon

            i forgot to add that i would never pay 600k for any house no matter how much i love it.

        • kyle-w

          Agreed. I believed in Petworth, saw an area close to the city center that was wildly undervalued (prices similar to Centerville and such) and jumped in. We have been handsomely rewarded over the last 3 years.

          Most importantly, I now own in a neighborhood I believe in, and have a fixed rate mortgage at a price I am happy about :)

      • Anonymous

        It doesn’t work out so well for everybody. See: Florida.


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