Real Estate

This home is located at 1495 Newton St, NW:

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The flier says:

“Great 2 br condo with washer and dryer, hard wood floors, updated bathroom. Close to Columbia Hgts metro, restaurants, Target, Bed Bath & Beyond, Wash Sports Club, Giant, 11th St Bars. Circulator Bus, downtown DC. Possible parking space available to rent.”

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

The owner writes:

“My boyfriend and I found and got our dream apartment in Adams Morgan. Now I’m a very motivated seller trying to find a very eager buyer for my condo. For what it’s worth, I bought it for a song because the owner got engaged and was eager to get a new place with her fiance. While I’m not saying the apartment is a good luck charm for finding love, the evidence seems to speak for itself…”

What do you guys think – does $264,900 ($250 condo fee) sound reasonable for this 2 bed/1 bath?

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 an Associate Broker with Urban Pace. 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: 1200 Euclid St NW #3
Original List Price: $425,000.
List Price at Contract: $425,000.
List Date: 07/26/2010
Days on Market: 7

Settled Sales Price: $425,000.

Settled Price Per Square Foot: $500 **Including 1 covered offstreet parking space
Settlement Date: 09/01/2010
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN is: here.
The Listing can be seen: here. To see pics, after opening the listing link, click on the main pic and scroll through.

I’ve watched this building over the years since I had a listing across the street at the same time the property was sold as a shell. That was back in 2004. The entire building, in poor condition, was listed for $599,000. and sold for $725,000. Keep in mind this was pre a lot of the current Columbia Heights development but definitely in the midst of the condo boom.

Fortunately, the developer did a nice job with the space. They were able to get a total of four units plus some parking. This particular unit sold for $385,000. in late 2007 which means a $40k increase in three years. Not too shabby.

The original Good Deal or Not (GDoN) post was at the request of the owner. I have to say that for a GDoN post, there were a lot of comments. The last little bit of feedback from an anonymous poster pretty much summed up the gist of the rest of the comments. “FOR A ONE BEDROOM CONDO? INSANE!!” (All caps is from the original comment, not my edit).

I’m wondering if the newly former owner would like to step forward and take a bow.