Eckington

In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 1835 North Capitol St NE

Original List Price: $450,000.

List Price at Contract: $430,000.

List Date: 11/14/2009

Days on Market: 57

Settled Sales Price: $399,000.

Settlement Date: 2/12/2010

Seller Subsidy: $4000.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN Post is: here.

Recent Listing is: here.

Commenters to the original Good Deal or Not (GDoN) post were quite vocal in their objections to the busy, busy street that is North Capitol. I live a block off of North Cap on the Bloomingdale side, so I know first hand how active it is during commuting hours. Historically, prices for comparable sales located on North Capitol reflect this concession. Similar homes on east-west streets, even very close to North Capitol typically sell quite a bit higher. North Capitol also serves as a physical boundary between Bloomingdale and the NE side of Eckington. Again, very similar houses within a short distance of each other can show a significant price differential with homes on the NE side selling for less than their NW counterparts.

With all that said, I actually think that the net sales price of $395,000. was a good deal. Given that I live in and do much of my business in Bloomingdale, I often have buyer clients who specifically want to purchase a bay front brick Victorian rowhome. As prices have steadily risen in the neighborhood over the past several years, it can be a challenge for first time homebuyers to find this type of property in their price range. Over the years, I have had numerous buyers willing to live on a busy street or to make some other compromise in order to buy the kind of home that they really want at a price that they can afford. Continues after the jump. (more…)

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This home is located at 129 U Street, NE:

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The flier says:

“Wonderful 3 BR 1 FB classic townhome in Eckington. Beaut. dark wood trim with inlayed HWD floors. All new paint. Full BSMT waiting for buyers personal touches. Lvl fenced back yard with access to alley. Has many orig. classic features found in the early 1900 townhomes.”

You can find more info and photos here.

The reader writes:

“I’ve been looking to buy my first home and have noticed a lot of recent home sales in Bloomingdale and Eckington. My realtor tells me that this is due to an influx of new home buyers taking advantage of the tax credit and the fact that these neighborhoods have a bunch of historic homes at relatively low prices. I know that there are some disadvantages to living in this neighborhood but would appreciate feedback from your readers as to the deal of this particular home.”

This 3 bed/1 bath is going for $229,900. Sound reasonable?

This home (the red one) is located at 1835 North Capitol Street, NE:

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The flier says:

“Move-in ready! Architectural details, hardwood floors, high ceilings, new baths and basement apartment ready for finishing. Neighborhood values poised for increasing with upcoming new developments (see district master plan). Metro bus stop at corner. Seller requires LENDER loan approval with offer.”

You can find more info and photos here.

The floors do look pretty sweet but it is unusual that they don’t show any photos of the bedrooms. But given the photos they have does $450,000 sound reasonable for this 4 bed/2.5 bath?

List Price at Contract: $308,900.

List Date: 7/24/2009

Days on Market: 5

Settled Sales Price: $380,000.

Settlement Date: 09/22/2009

Seller Subsidy: $0.

Bank Owned?: Yes

Type Of Financing: Conventional with $38,000. (10%) down payment.

Original GDoN Post is: Here.

Recent Listing is: Here.

This was an interesting Good Deal or Not (GDoN) post as there was a reader who went ahead and put an offer in. Although it needed some work, this foreclosed Victorian rowhome was listed at $308,900. and garnered multiple offers. It ultimately sold over $70,000. above the list price.

Although located literally just a block east across North Capitol, homes on the northeast side of Eckington can still usually be had at lower price points than their very similar Victorian counterparts on the Bloomingdale side. Check out the neighborhood blog which includes some great history. Eckington landmarks include the refurbished McKinley Technical High School, which is a focal point that sits high up on a hill. I often meet NE Eckington residents during my frequent visits to the largest unofficial dog park in DC (also affectionately referred to as Fedex Field, since it is next door to the main Fedex building). In addition to Fedex, XM/Sirius Radio is an Eckington-based business. North Capitol Main Streets, Inc. is a notable tenant, as well. Bloomingdale and Eckington residents (myself included) can be found at the public pool on Lincoln Road during the summer months.

PoP noted that the closest dining option seemed to be the Big Bear Café, located at 1^st and R St NW. It’s worth mentioning that Eckington is just north of NOMA and the New York Avenue Metro. There is a new Marriott Courtyard at the Metro, as well as a Five Guys and other food options. Given the push from NOMA Bid, as well as North Capitol Main Streets, I expect great things to continue in this area.

This home is located at 55 Quincy Place NE:

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The flier says:

“Gorgeous 3bd, 1fba, 2hba 3-lvl rowhouse w/ walk-out bsmt, parking space & many updates. Steps to NY Ave METRO. Features hdwds on main & upper lvls, 3 FPs. Bank-Owned. Sold As-Is. Shows well, but needs a little work. Seller responds quickly to offers. Request seller’s choice of closing co. & to hold EMD. Seller=”Owner of Record”.”

More info and photos found here.

I’ve only walked down this block a few times but thought the area was quite nice. There aren’t too many dining areas but you’re not too far from Big Bear Cafe across North Capitol in Bloomingdale. The house itself also seems quite nice, I dig the style on the outside, but I’d be sure to have a inspector with you as the house is “as-is”. Asking price is $308,900. Sound like a good deal?