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: 87 V Street, NW
Legal Subdivision: LeDroit Park
Advertised Subdivision per Listing: LeDroit Park
Bedrooms: 8 Baths: 4.5 Parking: Garage, Driveway/Off Street Ownership: Fee Simple
Living Square Footage per Listing: 5564 square feet Lot Sq Ft: 1900
Original List Price: $1,600,000. List Price at Contract: $1,600,000.
List Date: 2/1/2018 Days on Market: 8
Settled Sales Price: $1,700,000.
Seller Subsidy: $0.
Settlement Date: 4/4/2018
Transaction type: Standard
Original GDoN post can be seen: here.
The original listing can be seen here: here.
Everyone can breathe a sign of relief because this amazing corner home in Bloomingdale was purchased, per the listing agent, by an owner occupant with plans to restore its historic glory. Given that the price escalated $100,000., we can assume there was other interest.
The last long time owner occupants had done a tremendous amount of restoration, particularly to the exterior of the property and the English basement. They downsized in 2014 and sold to the recent seller, who was an investor based in Leesburg, VA.
In 2014, off market, it last sold to the investor for $1,450,000. There were apparently challenges with that project, as the City hit the property with a vacant property classification, hence the $25,865. yearly tax bill. (That should go way down with the new owner occupant.)
This is the highest sale to date in Bloomingdale. (The Bloomingdale neighborhood overlaps the legal subdivisions of Eckington and LeDroit Park. Above Rhode Island Ave NW, Bloomingdale spans from North Capitol St NW to 2nd St NW.) The next highest sale in the neighborhood was 61 Bryant St NW for $1,500,000. in October 2017.
The listing agent for this transaction was Rachel Adler with Realty USA. David DeSantis, with TTR Sotheby’s International Realty, represented the Purchaser.