GDoN Revisited by Hipchickindc – 2237 12th 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: 2237 12th St NW
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Old City #2
Original List Price: $624,900.
List Price at Contract: $584,900.
List Date: 10/02/2011
Days on Market: 108
Settled Sales Price: $577,000.
Settlement Date: 02/29/2012
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. To see pics, open the listing link and scroll through the arrows on the main pic.

The last time 2237 12th St NW was listed prior to Express Homebuyers’ purchase for this recent renovation was back in 1998. At that time, the property was shown as having two full bathrooms (in the 2012 listing there are 1.5 baths) and described as “remodeled”, with new appliances, new central air conditioning and heat, and wall to wall carpet. In 1998 it spent 28 days on the market before being purchased for $90,000. less a $2700. seller subsidy.

Continues after the jump.

Current home prices for 2 level homes of this size in the immediate area range quite a bit, depending on the condition and the specific block. Given that many of these homes are small, but often have a bit of yard space, they are often alternatives for buyers who are concurrently looking at condo units. Recent settled sales for 2 bedroom condos directly surrounding this home range from the mid-$400,000’s into the low $800,000’s.

This area includes a diverse range of properties in a densely defined area. The early 2000s saw game changers in this location when The Lincoln, a large new construction luxury condominium was built and EYA built the new construction townhomes known as Harrison Square. Previously, this area had a motley mix of residential and industrial properties, such as mechanics garages. Since that time, numerous new construction condo projects have been built in the area.