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Sold in 5 Days: “Two decades ago…late 1990’s…homes on this block could be purchased for less than $100,000.”

by Prince Of Petworth — March 24, 2017 at 10:30 am 5 Comments

GdonR

Good Deal or Not Revisited (GDoN-R) is a weekly post that reviews the settled sales data of a recent individual real estate transaction in the District of Columbia. Each post is a snapshot of the real estate market at a particular moment in time. GDoN-R generally posts on Friday in the late morning.

GDoN-R has been written exclusively for Popville since 2009 by Suzanne Des Marais. Suzanne is a practicing Realtor with the Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Smartcharts by Showingtime. Information is deemed reliable but not guaranteed.

Featured Property: 1313 Emerald St NE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Bedrooms: 3 Baths: 1.5 Parking: Street Ownership: Fee Simple
Original List Price: $699,725. List Price at Contract: $699,725.
List Date: 2/9/2017 Days on Market: 5
Settled Sales Price: $730,000.
Seller Subsidy: $0.
Settlement Date: 3/7/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

As noted above in the introduction to this post, Good Deal or Not Revisited (GDoN-R) is meant to be a snapshot of the DC real estate market representing a specific period of time. It just so happens that this little one block long street south of H Street and north of Lincoln Park is a PoPville fave, so there are several posts over time reflecting the recent evolution of this micro market.

In June 2015 GDoN-R took a look at this end unit with solar panels, which settled at net $633,500.

1357 Emerald St NE settled for $669,500. in October 2014

And here is the very same house as the subject in May 2014. At that time, it settled for net $627,500.

Two decades ago…late 1990’s…homes on this block could be purchased for less than $100,000. In the mid-2000s, there were a couple sales over $500,000. (peak sale in April 2006 was at net $505,000.), followed by the dip that was the recession-era market. It was not until May 2010 that a house again sold above $500,000. At $730,000., the current subject is the highest sale to date on the block.

The listing agents for this property were Peter Grimm and John Smith with Berkshire Hathaway HomeServices PenFed Realty. Ed Carp, with Continental Properties, Ltd. assisted the Buyer.

  • JohnH

    Not to hijack this post, but have you done GDON for the fishbowl apartments at 11 & T? I walked by the other day….it’s literally like walking by the Macy’s windows – you can see everything going on.

    • Anon

      You seem rather bothered by this – why?

      • DF

        Are you a mind reader, how did you discern that particular feeling from John?

      • JohnH

        Maybe you could just share with us how much you paid? lol

  • MadMax

    Yeah I live pretty close to hear a bit closer to Lincoln Park and my place sold in 1997 to the previous owner for (I think) around $90K. I’m not sure how relevant that is though to current day sales, given that almost all housing in the city was cheaper back then. Those buyers are definitely making out with some serious bank today though if they’re selling.

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