GDoN Revisited by Hipchickindc – 2023 R St NW

Hipchickindc is a licensed real estate broker. She is the founder of 10 Square Team and is affiliated with Keller Williams Capital Properties. 10 Square Team is a princeofpetworth.com advertiser. 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. Information is deemed reliable but not guaranteed.

Featured Property: 2023 R St NW
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Dupont
Original List Price 1st Listing: $2,875,000.
List Price at Contract: $2,595,000.
List Date: 06/13/2011
Days on Market: 131
Settled Sales Price: $2,325,000.
Settlement Date: 12/16/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Entered in listing data as “Private”
Original GDoN post is: here.
The listing can be seen: here. The virtual tour can be seen here. (By the way, on Homevisit virtual tours, the tour will load faster if you go to the far right and click on “view in standard resolution”.)

I don’t know about you, but ever since Mitt Romney released his tax returns, I keep thinking about what I would do if I had that kind of cash available. I’m generally a Bloomingdale girl, but it does occasionally cross my mind that it might be fun to own a ginormous house with a hot tub on the roof deck. I also like the idea of being down the street from Teaism and I’m a Phillips Collection member, so it would be very convenient for popping in more frequently. And sometimes, as one of the commenters to the original Good Deal or Not (GDoN) post said, I would like to have a couch in my kitchen.

Continues after the jump.

Given the whirlwind of changes to so many neighborhoods in DC, it’s notable that Dupont pretty much looked about the same a decade ago, (well, less Sweet Green and other recent businesses.) That said, it’s also notable that in 2001, this home sold for just shy of a million dollars less than it did last month. In all of 2001, within a quarter mile radius of the subject property, there were 32 sales of fee simple homes. The average net sale price at that time was $985,353. Looking at the same radius for all of 2011, there were only 19 transfers of fee simple homes, with an average net sale price of $1,894,200. That’s some pretty healthy appreciation over a ten year period, even with a housing bubble thrown in the middle of it.

The decrease in the number of homes in this location available for sale currently is also significant, as it reflects the scarcity of supply of active inventory seen in other parts of the city, which may drive prices even further this Spring.

Per tax records, the recent seller purchased the home in 2004 for $1,900,000.