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 Bright MLS, which is the local multiple listing system and/or Smartcharts by Showingtime. Information is deemed reliable but not guaranteed.
Featured Property: 1333 Wallach Pl NW
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Old City #2
Bedrooms: 3 Baths: 2 Parking: Paved with garage door Ownership: Fee simple
Original List Price: $955,000. List Price at Contract: $955,000.
List Date: 7/9/2018 Days on Market: 3
Settled Sales Price: $1,028,000.
Seller Subsidy: $0.
Settlement Date: 8/10/2018
Transaction type: Standard
Original GDoN post can be seen: here.
The original listing can be seen here: here.
Commenters to the original GDoN post easily called this one. As noted by one, “Even needing some work, I’d expect a rowhome this large in that location to go for seven figures.”
Wallach Place, between 13th and 14th and just South of U Street NW, is one of those tucked away one block long streets in the middle of a busy area that make you feel like you’re not in a busy area. From a property value history standpoint, these blocks are really interesting because they present a very defined and encapsulated micro real estate market.
The 1300 block of Wallach Pl NW saw its first seven figure sale in 2013. Can you guess what year Trader Joe’s on 14th Street came into being? Over five years, the current subject property is the ninth sale over a million dollars on this block.
I know it’s not necessary, but just in case you need perspective, two decades ago houses on this block generally sold in the $100,000’s. With central air, granite counters, and a Jacuzzi? Well into the $200,000’s.
From around 2005 until pretty much up until Trader Joe’s arrived, houses on this block sold in the $700,000’s and $800,000’s with some low priced outliers in bad condition.
The listing agent for this transaction was Jordan Parker with Berkshire Hathaway HomeServices PenFed Realty. Ellen Morrell, with Washington Fine Properties, LLC, represented the Purchaser.