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Good Deal or Not? “Rare Queen Anne Style Victorian Turrets” edition

by Prince Of Petworth June 24, 2014 at 12:55 pm 53 Comments

216 N Street Northwest

This house is located at 216 N Street, Northwest. The listing says:

“Rare Queen Anne Style Victorian Turrets and Rounded Facade, Tiffany Stained Glass, Multiple Fireplaces and Wood Burning Stove, Crown Molding Lovely Front Parlor with Pocket Doors, Wide Stairs with Landing, Huge Master Bath with Soaking Tub and Separate Shower, Wainscoting Dining Room, Cobble Stone Sidwalk, Koy Pond, Screened Porch, Needs a little TLC-Sold AS-Is Where Is”

You can see more photos here.

This 3 bed/2.5 bath is going for $1,300,000.

  • textdoc

    “Needs a little TLC” for $1.3M? I know Bloomingdale is hot, but is it that hot??
    .
    And “koy”? Oi!!

    • jumpingjack

      This place is wildly overpriced, but it’s not in Bloomingdale. It’s a good half mile from Big Bear, which I see as the southern end of Bloomingdale.

      • textdoc

        Ahh, OK.

  • JS

    Can’t comment on the pricing, but I guess it’s sad that the first thing I thought of when I saw the inside was “someone let me know when this gets flipped into condos so I can salvage some of those materials.”

  • Anonymous

    This seems drastically overpriced to me (like hundreds of thousands overpriced)

  • Anonymous

    It’s got some nice period details, sure. But no central A/C and “As Is”? I notice they don’t provide any shots of the kitchen/bathroom, which are probably contemporary with those nice period details. Regardless of the tons of work that is likely needed to just to bring this up to modern standards, $1.3M for a 3/2.5 in Truxton in that condition is crazy. CRAZY.

  • Anonymous

    Agree with drastically overpriced. Like $5-600k overpriced… and it’s definitely not in Bloomingdale. This house faces the new Dunbar High School.

  • Anonymous

    Maybe worth the price if the windows actually came from Tiffany studios which I’m quite sure they didn’t. The agent should say Tiffany style windows.

  • Anonymous

    On a very good day this house would fetch $700k tops. What are these people smoking?

    • Anonymous

      No idea. My guess is that this is the opening shot in aggressive negotiations with developers. Though, at that price no developer will touch it. Agree with people who said that this is $500K overpriced.

      • Anonymous

        +1 x2

  • Anonymous

    AYFKM? An unrefurbished 3 bedroom house in the TC for $1.3? Get the fuck out, DC.

    • KSB

      +1000000

  • dcreal

    Do any of you guys have that style staircase in your home? Is it practical? I’ve never liked staircases like that or the ones that cut across the room splitting the home in half.

  • Anon

    there had better be gold buried in the backyard for $1.3M

  • Rich

    “Rare”? DC is fill of places with turrets. TLC at this price? The sad thing is that it will be cut up into overpriced condos.

    • This isn’t a profitable buy for a condo developer, so I doubt that.

  • Anonymous

    Yea, there’s absolutely no chance they are getting anything remotely close to asking. 500k less sounds about right, if optimistic. I don’t think the owners really realize how this works.

  • Anonymous

    Gahhh. Maybe they’re being foreclosed on, and need to show the banks that they’re making an “effort” to sell the home. Otherwise this whole thing makes zero sense.

    • nate

      Last sold in 2012 for $188k.

      • Anonymous

        No fucking way!!!!!!!!
        :-x

      • Beth

        HAHAHAHA

      • textdoc

        Somebody must be smoking crack.

        • Anonymous

          He’s full of crap. There’s no sales record in the city database because it’s been owned by the original owners for so long.

          • textdoc

            Even if Nate’s comment is totally inaccurate… I maintain that the list price makes one wonder if someone is smoking crack.

          • nate

            Sorry saw that sale price on Zillow, was probably just a refi or something that got recognized in their system as a sale (I recall their data isn’t always the best).

  • Anonymous

    1611 1st is listed for $1.1M at the same time as this. No a/c in either. No parking for either. Lots of reno needed for both. What do they know that we don’t?

    • Anonymous

      I just looked and didn’t see 1611 1st NW listed anymore? But yea – neither one is getting anything close to asking. Pretty sure it’s the opposite – what DON’T they understand about DC real estate?

      • Anonymous

        http://franklymls.com/DC8383717

        It would have to be something like a rumor that the housing project at 1st & Q were getting replaced with a Whole Foods that would spark that kind of frenzy. Not being serious but for such simultaneous delusion, it does tilt one towards conspiracy thinking.

        • Anonymous

          Oops – you’re right (I had my filters set too low). I live right around the corner, so I’d welcome any such rumors with open arms, but I HIGHLY doubt that anything of that sort is going to happen there. I think it’s just a case of the long-time owners trying to cash in on a pipe dream after seeing the (relatively) high prices in the area.

  • bdale

    just because you have a turn of the century Victorian doesn’t automatically make it worth over a million. this is ridiculous

  • dcf

    Jesus Christ. I live two blocks from there, and while some houses on my street have sold for shocking prices (one house for $770,000 the other for $900,000 and change), THEY WERE FULLY RENOVATED. I am talking gutted with brand new everything from top to bottom. These people must be nuts. Houses needing TLC, especially that much TLC should be sold for about 900,000 to 800,000 less than that.

  • You have got to be kidding

    $5 to $700K overpriced.

    • Anonymous

      I’d say $5 to $700k overpriced is not very precise.

  • textdoc

    This is even more unbelievable now that I’ve looked at the photos. NO photos of kitchen or bathrooms. A photo of the sidewalk outside the house, SHOWING WEEDS GROWING IN THE SIDEWALK. A bedframe in what appears to be a living or dining room (pocket doors next to an arched doorway?). This is crazy, absolutely crazy.
    .
    What do renovated houses of this size in Truxton Circle go for? How about unrenovated houses?

  • lmfb

    Agree with the others–not a deal. If the most photo-worthy thing in your house is your hinges, you do not get to ask for that kind of change for a house in TC.

    • annonny

      At 1.3mil, you could get the hinges, doors, and moldings from Brass Knob and put them into a better condition house in Dupont. And the Brass Knob materials would be in better shape than what’s photographed here. Definitely not a good deal at all.

  • This is one of the most resounding “No” answers I’ve ever seen in a GDoN.

    • textdoc

      LOL!

  • anonymous

    I want to see the follow up

  • anon4

    Could be to get a vacancy tax rate exemption…. one of the past GDONs looked like the same thing. (One exemption is for an active sale listing).

    • textdoc

      Ahhh, interesting point. It’s amazing what kinds of sneaky maneuverings people get up to to avoid paying the “vacant” or “blighted” tax rate.

  • ClevelandDave

    Not a particularly rare style of house in this area, definitely not Tiffany stained glass. Indeed, not really even Tiffany style stained glass.

  • Anonymous

    This place was receiving the Elderly Homeowner tax rate for the previous decade. Last year’s property tax bill was only $1200 (holy f#ck). So my guess is that this is an estate sale and the kids are looking to CASH OUT. Hence why there’s a bed in the living, she probably couldn’t walk up the stairs.
    .
    It’s sad that an old woman was living in these conditions toward the end of her life.

  • Ryan

    While this house is clearly overpriced, it doesn’t mean it’s not a highly coveted property in an extremely hot real estate area. It all comes down to investor math.

    Finished Sq. Ft. 2,350
    Unfinished Sq. Ft. 650
    Total Sq. Ft. 3,000

    Here comes the guessing game. This is a very large house for DC standards. If fully renovated, as a standalone house, this would sell for well over $1M. However renovations would likely cost upwards of $350K-$400K on such a property. If turned into two condos, you could get $750K for each if each had 1,500 square feet (assuming no pop-up). I’d say it goes for $850K maybe more. $850K plus $400K renovations = $1.25M cash invested. Sell each condo for $750K totaling $1.5M. This nets the investor $200K on the whole thing after brokerage fees etc…

  • ShawRes

    It’s funny…my friends and I were discussing this house yesterday before it was on GDON (just from the Redfin post) and were saying “is this really what it is has come to in DC?” Not only was the realtor clearly drunk (maybe high?) when he took the pictures, but it’s like he picked a random number out of a bottle and said 1.3! Sounds good to me! There is zero, and I mean zero, chance this house goes for even close to this number.

  • tonyr

    Not just “As-Is”, but “Where-Is” too! Didn’t Rayful Edmond’s grandmother live near here? Maybe he’s moving back?

  • Anonymous

    It most likely is the only Queen Anne Victorian…

  • Sparta

    For $1.3M, might want to take the rotting flier off the basement apartment door handle.

  • Bloomingdale resident

    This house is in the Mt. Vernon Historic District, so may not have a lot of interest from developers.

    Also, this house is not just across the street from Dunbar High School, it faces the (under construction) athletic field and stadium. Having lived across the street from a school stadium before, I would not be interested in buying this house, but it certainly has a lot of potential.

  • Anonymous

    For that price, you can get 5 bedrooms and no TLC in any neighborhood in the city except possibly Dupot/Kalorama. Why on earth would you buy this in Truxton Circle???

  • Anon

    This is technically in Truxton/ shaw. The pricing is delusional, given its size- off by several hundred thousand dollars. But once it gets fixed up, it will be quite grand.

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