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: 243 Hawaii Ave NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Bedrooms: 3 Baths: 2 Parking: Street Basement: Fully Finished Ownership: Fee Simple
Original List Price: $384,900.
List Price at Contract: $384,900.
List Date: 10/29/2014
Days on Market: 29
Settled Sales Price: $370,000.
Seller Subsidy: $0.
Settlement Date: 1/1/2015
Bank Owned?: No Short Sale? No Estate: No
Original GDoN post is: here.
The original listing can be seen here: here.
Comments to the original Good Deal of Not (GDoN) post spent a fair number of comments debating distance to Metro and the appearance of the property. Located to the north and west of Catholic University and to the east of the Old Soliders Home, the location is likely more drivable than transit-oriented, however it’s a great example of an opportunity to own a whole house for less than what many people pay monthly for rent in DC.
At the moment, in all of DC, there are a total of 143 listings for fee simple houses priced under $400,000. In the legal subdividion of Brookland, which includes this area, there are currently two active listings for fee simple houses under $300,000. (both in the search for any houses under $400k). Since July 2014, there have been a total of 36 sales of houses below $400,000. in the legal subdivision of Brookland, and another 12 currently under contract.
For perspective, at the sales price of $370,000. with a down payment of 5% ($18,500)., at today’s current reported mortgage interest rate of 3.8% on a 30 year fixed, a monthly payment is $1450.38 including interest, taxes, and homeowner’s insurance (but not including mortgage insurance, which may be required depending on loan product).
The listing agent was Ayana Douglas with Re/Max Allegiance. Sergio Herrera with Scout Properties LLC represented the buyer in this transaction.