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GDoN Revisited by Hipchickindc – 1413 T Street, NW #405

by Prince Of Petworth August 21, 2015 at 11:10 am 8 Comments

Exterior (General) -

Hipchickindc is a licensed real estate broker. She is the President of 10 Square Real Estate. 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: 1413 T St NW #405
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Old City #2
Bedrooms: 1 Baths: 1 Parking: Street Ownership: Condo
List Date: 07/1/2015
Original List Price: $299,000
Settled Sales Price: $310,000
Seller Subsidy: $9300
Square footage: 455 Square Feet
Settled Net Price per Square Foot: $661
Days on market: 12
Settle Date: 14 August 2015
Transaction type: Standard

Original GDoN post is: here.

The original listings can be seen here: here.

Commenters to the original Good Deal or Not (GDoN) post were generally not in favor of the price of this small one bedroom unit with a loft near 14th Street NW. There was a subsidy paid by the seller of $9300., but even figuring that into the net, this unit settled at $661 per square foot, which is on the high side for a re-sale. That said, the smaller the unit, the price per square footage goes up incrementally, so not overly shocking. In relation, high end new construction units at 14th and W St NW are attracting over $800 per square foot.

Currently, there are a total of 74 active listings for condo units all around NW DC priced under $300,000. Buyers who generally qualify around this price range may have some income related opportunities to tap into. Some specific DC benefits for buyers with moderate income include tax abatement, and down payment and closing cost assistance through the Home Purchase Assistance Program or HPAP.

The listing agent for the subject property sale was James Grant with Keller Williams Capital Properties. Aaron Smith of Berkshire Hathaway HomeServices PenFed Realty represented the buyer in this transaction.

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