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“Despite having a single bathroom, the subject property went under contract within two weeks”

by Prince Of Petworth December 1, 2017 at 10:55 am 0

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 intended as a case study and 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 Compass. 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 MRIS (Metropolitan Regional Information Systems), which is the local multiple listing system and/or Smartcharts by Showingtime. Information is deemed reliable but not guaranteed.

Featured Property: 1019 15th Street, SE
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Old City #2
Bedrooms: 3 Baths: 1 Parking: Paved Driveway Ownership: Fee Simple
Original List Price: $649,000. List Price at Contract: $649,000.
List Date: 9/23/2017 Days on Market: 11
Settled Sales Price: $649,000.
Seller Subsidy: $0.
Settlement Date: 11/3/2017
Transaction type: Standard
Original GDoN post can be seen: here.
The original listing can be seen here: here.

This home is positioned within a six minute walk to the Potomac Ave Metro, and it is notable that this pocket south of Pennsylvania Ave in the east Capitol Hill neighborhood still boasts average fee simple house prices below $700,000. In contrast, settled fee simple sales within blocks, on the north side of Pennsylvania Ave, close to the Potomac Ave Metro, average in the high $900,000’s.

Despite having a single bathroom, the subject property went under contract within two weeks. This home was updated with central air and an open kitchen layout. In 2017, three bedroom homes in the legal subdivision of Old City #1 in the SE quadrant with only one full bath sold for a median price of $650,000. Three bedroom houses in the same area with a second full bath sold in 2017 for a median price of $760,000., while three bedroom houses in the area with three full baths sold for a median price of $936,000.

The listing agent for this transaction was Justin Paulhamus with M Squared Real Estate, LLC. George Lima III, with Keller Williams Capital Properties, represented the Purchaser.

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