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Sold in 16 Days – “Something(s) about this property struck a nerve with commenters”

by Prince Of Petworth February 23, 2018 at 10:50 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 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: 1337 Rittenhouse St, NW
Legal Subdivision: Brightwood
Advertised Subdivision per Listing: Brightwood
Bedrooms: 4 Baths: 3.5 Basement: Partially Finished Parking: Garage Ownership: Fee Simple
House Living Square Footage per Listing: 1957 square feet
Original List Price: $743,000. List Price at Contract: $720,000.
List Date: 1/4/2018 Days on Market: 16
Settled Sales Price: $730,000.
Seller Subsidy: $0.
Settlement Date: 2/20/2018
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

Something(s) about this property struck a nerve with commenters, as the original Good Deal or Not (GDoN) post attracted 62 comments. Many of the comments were in relation to the design of the renovation, which was not brand, brand new, but done in 2016.

The property was purchased by the prolific developer, Dilan Investments, in August of 2016 for $399,900. It went to settlement in December 2016 painted gray on the exterior (not popular with the commenters), and with freshly installed waterfall counters and vessel sinks, for net $680,000. Here is the 2016 listing with pics.

The only significant difference noted from the 2016 to the 2018 listing is the apparent addition of a half bath. In any case, the property increased in market value by over 7% in just over one year.

The listing agent for this transaction was Nashwa Beach with Compass (per disclosure above, the same brokerage company that the writer is affiliated with). Damon Downing with Coldwell Banker Residential Brokerage represented the Purchaser.

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