Real Estate

Good Deal or Not? “Beautiful three level condo” edition

By Prince Of Petworth

This condo is located at 1001 East Capitol St, SE:


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The flier says:

“Beautiful three level condo in 2-unit row house prominently sited on the southeast corner of 10th & East Capitol. Main level living room with hardwood floors and fireplace, open staircase, upper level MBR suite, lower level eat-in kitchen and guest suite. Lives like a single family home with professionally landscaped front yard and 1/2 block to Lincoln Park.”

You can find more info here and photos here.

This 2 bed/2 bath is going for $495,000. OK, what am I missing here? This seems like an insanely good deal. Am I blanking on something extremely obvious?

Across the street is a 2 bed/1 bath going for $449,000 (but it’s a lower level unit) photos here.

GDoN Revisited by Hipchickindc – 1873 Monroe St NW

By Prince Of Petworth

Hipchickindc is a licensed real estate broker and a professional artist. Her official real estate bio is here and her art website is here. 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: 1873 Monroe St NW

Legal Subdivision: Mount Pleasant
Advertised Subdivision per Listing: Mount Pleasant

Original List Price: $749,950.
List Price at Contract: $749,950.
List Date: 03/10/2011
Days on Market: 17

Settled Sales Price: $749,950.

Settlement Date: 05/25/2011
Seller Subsidy: $15,000.
Bank Owned?: No Short Sale? No
Type Of Financing: FHA (See below for more thoughts on financing and pricing of this property)

Original Good Deal or Not post is: here

The listing can be seen: here. The virtual tour can be seen here.

I don’t know if it was on purpose or not, but this home was priced just about 3.5% above the loan limit for FHA in the DC area for a single unit. Higher pricing would have potentially pushed this property out of the realm of FHA (which allows a 3.5% down payment) and potentially into Jumbo financing territory. True, a lot of buyers in this price range plan to make a substantial down payment. Considering that this home did go under contract in 17 days to an FHA buyer, it does, however, highlight how important it is to consider how financing options can affect pricing. These are especially crucial issues to consider as we are potentially facing a significant drop in the ceiling for conforming loan limits in October, which will affect both buyers and sellers.

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Good Deal or Not? “bath replete w/ jacuzzi” edition

By Prince Of Petworth

These condos are located at 2238 11th St, NW:


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The flier says:

“Beautiful new 3 level condo close to U street fun & Columbia Heights. FHA and VA approved. Seller offering 3% for using preferred lender & title co. Feat: top floor master suite w/ light fille bath replete w/ jacuzzi & sep shower, 2 private roof decks w/ sweeping views, LR plus den & office, tankless water heater, well appointed kit, great light, video entrance system & more!! Parking for sale.”

You can find more info here and photos here.

We last judged this new building back in Sept. ’10. There are now two units on the market. Unit #2 is a 2 bed/2.5 bath going for $669,900 ($264.41 monthly condo fee.) And Unit #1 is also a 2 bed/2.5 bath going for $619,900 ($227.49 monthly condo fee.)

What do you think of the units? The price?

Good Deal or Not? “Spacious former 3br” edition

By Prince Of Petworth

This home is located at 609 Acker St, NE:


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The flier says:

“SPACIOUS VICTORIAN ON A GREAT NEIGHBORLY ONE-BLK STREET. Spacious former 3br with open floor plan and family flow. Storage Everywhere! Large master br, 2nd br w/ walk-in closet, huge full bath + half bath, new front-load W/ D, pull-down attic stairs. Many original features including warm exposed brick walls, mellow oak floors, wood burning fireplace. Rear brick patio for private dining and grilling,”

You can find more info here and a virtual tour here.

This 2 bed/1.5 is going for $621,777 – sound right? This is a good example of a 3 bed converted to a 2 bed – you like the way it turned out?

Good Deal or Not? “brand-new urbane boutique condos” edition

By Prince Of Petworth

This condo is located at 475 Florida Ave, NW:


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The flier says:

“One-bed PLUS DEN model in brand-new urbane boutique condos in popular Ledroit Park with style and sophistication. Distinctive floor plans, lots of exposed brick, fireplaces, designer kitchens and baths, high ceilings. More for the money in an urban commuter’s dream, two and a half blocks to Metro. 100 PERCENT FINANCING AVAILABLE with NO PMI. There is nothing else like these.”

You can find more info here and photos here.

Unit #2 is a 1 bed/1 bath going for $299,900 ($231.96 monthly condo fee.) Unit #3 is 2 bed/2bath already under contract at $349,900 and Unit #1 is a 2 bed/2 bath going for $309,900.

Back in Feb. ’09 the building was a shell and was auctioned for $300,000. We rejudged the building here back in mid-May.

Good Deal or Not? “Interior Designer-owned rowhouse built in 1909” edition (owner request)

By Prince Of Petworth

This home is located at 4019 Marlboro Place, NW:


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The flier says:

“Lovely Rowhouse, great location. Interior Designer-owned rowhouse built in 1909 has a gracious, wide front hallway with 9′ ceilings on the first floor. The circulation is open-plan, and filled with light.

Flooring is all hardwoods (mostly the original heart pine). Newly renovated kitchen/dining area has stainless appliances and sophisticated finishes and lighting. Walk-out basement is finished and has a full bathroom and laundry facilities.

2nd floor has a sky lit hallway and very large bedrooms and renovated bathroom with Ann Sacks tile, double sinks, upscale faucets and shower fixtures. Back yard is fenced, private and fully landscaped with hardy, beautiful drought-resistant perennials and custom built-in boxes perfect for vegetables, flowers or herbs.”

You can find more info and photos here.

$485,000 sound right for this 3 bed/2.5 bath?

GDoN Revisited by Hipchickindc – 27 Logan Circle NW #4

By Prince Of Petworth

Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, hipchickindc aka the not-so-hip Suzanne Des Marais is the Principal Broker (DC) for Urban Pace, LLC. She lives (and sells a lot of houses) in Bloomingdale, but works all over DC, with everyone from first time buyers to highly regarded developers. 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: 27 Logan Circle NW #4
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Logan Circle
Original List Price: $925,000.
List Price at Contract: $899,000.
List Date: 01/20/2011
Days on Market: 61
Settled Sales Price: $899,000.
Settlement Date: 05/05/2011
Seller Subsidy: $8500.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original Good Deal or Not post is: here

The listing can be seen: here. Here is the virtual tour.

Last week we revisited a house that sold on Grant Circle in Petworth. This week, we move south to stunning and awesome Logan Circle. You might notice that the price points diverge a bit from Grant Circle, as lovely as it is.

Designed to blend in with the surrounding historic architecture, Logan Mansions is the quintessential boutique condo and was built in just 2000 by P.N. Hoffman. It’s interesting to consider that this property came into existence just at the dawn of the Whole Foods Era. Wikipedia notes that the Whole Foods on P St NW was built in 2000 on the site of a former abandoned service garage.

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Good Deal or Not? “Rarely available TWO level condo” (owner request)

By Prince Of Petworth

This condo is located at 2440 16th St, NW:


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The flier says:

“Rarely available TWO level condo features hardwood floors, working fireplace, open fl plan, lots of windows, w/ d hookup and more! Great location around the corner from Harris Teeter! This unit is larger than some of the 2 brs in bldg. FHA approved. Freshly painted!! New Price!!”

You can find more info here and a mouse on house tour here.

This 1 bed/1bath is going for $339,900 ($438 condo fee) – new price sound right?

Good Deal or Not? “reminiscent of New York City’s fabled apartment co-op’s” edition

By Prince Of Petworth

This condo is located at 1840 Biltmore St, NW:


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The flier says:

“WASHINGTON LOCATION AND NEW YORK STYLE reminiscent of New York City’s fabled apartment co-op’s, The Haddington is a small community of 16 city apartments. Loaded with the charm of an earlier era; high ceilings, heart of pine floors, French and 5 paneled doors and period lighting fixtures. Number 11 has an updated kitchen and bath.”

You can find more info here and a virtual tour here.

$459,500 ($833 monthly condo fee) sound right for this 2 bed/1 bath?

Ed. Note: Unit 31 went under contract in under 18 days for $459,500 ($817 monthly condo fee.)

Good Deal or Not? “save your gas money” edition

By Prince Of Petworth

This home is located at 1015 Kenyon St, NW:


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The flier says:

“Nestled in Columbia Heights, 2BR suite (each w/ updated bath), large living room, new kitchen w/ granite counters, powder room on 1st level with CAC, washer/dryer, & PARKING! The whole package: Great Condo Alt w/ no fees; First home or rental property! No basement, no problems. Bike Share, Bus – 50 ft. away, save your gas money, buy today!”

You can find more info here and photos here.

$482,500 sound right for this 2 bed/2.5 bath?

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