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“this bungalow with abundant original details was the lowest settled sale of a detached fee simple home in Kent in literally years”

by Prince Of Petworth March 17, 2017 at 10:40 am 18 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: 5409 Macarthur Blvd NW
Legal Subdivision: Kent
Advertised Subdivision per Listing: Kent
Bedrooms: 6 Baths: 3 Parking: Street Ownership: Fee Simple
Original List Price: $750,00. List Price at Contract: $750,000.
List Date: 12/10/2016 Days on Market: 42
Settled Sales Price: $725,000.
Seller Subsidy: $25,000.
Settlement Date: 3/7/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

Kent is a neighborhood above MacArthur Boulevard and close to the far left point of the DC map. At net $700,000., this bungalow with abundant original details was the lowest settled sale of a detached fee simple home in Kent in literally years. (The next lowest was a $710,000. sale in March 2015.)

Average net sale price for detached fee simple properties in Kent for the past six months was $1,879,913. Still, the subject property was listed during the cold month of December when many Buyers and investors may have been pre-occupied with election results and holiday parties, and the house remained on the market for over a month.

In contrast, condo units along MacArthur Boulevard NW since September 2016 are selling for an average net price of $291,376. There are currently two active small condos under $300,000.

The listing agent for this property was Brian Wilson with Wilson Realty Group, Inc. Michael Rankin, with TTR Sotheby’s International Realty assisted the Buyer.

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