Capitol Hill State of the Market?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Now that the peanut gallery is riled up, very curious what folks think of the only two "family homes" available in the heart of Historic district right now:
- 1327 North Carolina NE - 2br 2ba for $995k (https://www.redfin.com/DC/Washington/1327-N-Carolina-Ave-NE-20002/home/9914044)
- 607 G Street SE - 3br, 2ba for $950k, but it's been on the market since last July on and off and seems to be a complete gut (https://www.redfin.com/DC/Washington/607-G-St-SE-20003/home/9900787)

There continues to be a significant lack of supply for ~3br homes around Brent or Eastern Market for <$1.5m, which is simply too expensive for most families.

That block of NC is a disaster due to the new bike lanes and the current Maury/Miner situation would not make me want to be IB with small children.

And G Street is way overpriced for no interior photos. IB for Brent and good location, though.

North Carolina closed today - $1.135m (vs $995 asking). You could call the $140k over ask the bike lane premium Kudos to the team there, I'm impressed they got more than $1.1 for a 2Br east of Lincoln.

[Anonymous]

Was thinking that maybe some sub-$2m houses west of 8th Street SE/north of the freeway would hit the market this week (post-Easter), but nada.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What do you think of this house:https://www.redfin.com/DC/Washington/606-A-St-NE-20002/home/9899591

Too low? Too high?? We are contemplating a possible move to a bigger house on Capitol Hill (currently in a 3/2.5 valued at approx 1.3 or so in the Brent district).

I saw it today -overall impression was "meh." The photographs look much better than the place in person. Place feels/seems much smaller; lots of dated and old finishes. Would need a lot of updating/work (not at all turn key as it seems in photos). Basement apartment smells super musty. Not worth 1.6 million IMO!

Already under contract. The 600 block of A St NE is an absolutely classic block and if anything underpriced at 1.6 mil. Literally steps from the Capitol complex. Dated finishes have nothing to do with it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Two sub $1m homes hit within Historic yesterday:

1) 604 E St SE (2br, 1.5 BA listed at $800k) - In bounds for Brent but could really use a facelift. I assume this will go QUICK just based on location

2) 418 10th St SE (4br/2.5 BA across 2 units - $900k). I don't love this location - it's kind of busy - but this is priced right for a 3br house upstairs and short term rental downstairs

604 E is contingent. That was fast.

10th St pending. Anything under $1m flies right now

Eh, not really. Some of the houses listed below need to be gutted, sure, but some of them seem perfectly fine and they're still sitting.

$859K, 164 days on the market: https://www.redfin.com/DC/Washington/608-9th-St-NE-20002/home/9902653

$900K, 240 days on the market: https://www.redfin.com/DC/Washington/511-F-St-NE-20002/home/9896874

$999K, 37 days on the market: https://www.redfin.com/DC/Washington/611-10th-St-NE-20002/home/9906128

$949K, 29 days on the market: https://www.redfin.com/DC/Washington/730-4th-St-NE-20002/home/9892561

$869K, 24 days on the market (this is a house on Emerald, where houses seem to sit, for some reason): https://www.redfin.com/DC/Washington/1357-Emerald-St-NE-20002/home/9912902

$859K, 45 days on the market (another Emerald house): https://www.redfin.com/DC/Washington/1368-Emerald-St-NE-20002/home/9912941

$869K, 92 days on the market: https://www.redfin.com/DC/Washington/1383-F-St-NE-20002/home/9913082

those are all “extended hill” and probably suffer from proximity to the cesspool that H St has become

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Now that the peanut gallery is riled up, very curious what folks think of the only two "family homes" available in the heart of Historic district right now:
- 1327 North Carolina NE - 2br 2ba for $995k (https://www.redfin.com/DC/Washington/1327-N-Carolina-Ave-NE-20002/home/9914044)
- 607 G Street SE - 3br, 2ba for $950k, but it's been on the market since last July on and off and seems to be a complete gut (https://www.redfin.com/DC/Washington/607-G-St-SE-20003/home/9900787)

There continues to be a significant lack of supply for ~3br homes around Brent or Eastern Market for <$1.5m, which is simply too expensive for most families.

That block of NC is a disaster due to the new bike lanes and the current Maury/Miner situation would not make me want to be IB with small children.

And G Street is way overpriced for no interior photos. IB for Brent and good location, though.

North Carolina closed today - $1.135m (vs $995 asking). You could call the $140k over ask the bike lane premium Kudos to the team there, I'm impressed they got more than $1.1 for a 2Br east of Lincoln.

Man that bike lane surely ruined the neighborhood

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Two sub $1m homes hit within Historic yesterday:

1) 604 E St SE (2br, 1.5 BA listed at $800k) - In bounds for Brent but could really use a facelift. I assume this will go QUICK just based on location

2) 418 10th St SE (4br/2.5 BA across 2 units - $900k). I don't love this location - it's kind of busy - but this is priced right for a 3br house upstairs and short term rental downstairs

604 E is contingent. That was fast.

10th St pending. Anything under $1m flies right now

Eh, not really. Some of the houses listed below need to be gutted, sure, but some of them seem perfectly fine and they're still sitting.

$859K, 164 days on the market: https://www.redfin.com/DC/Washington/608-9th-St-NE-20002/home/9902653

$900K, 240 days on the market: https://www.redfin.com/DC/Washington/511-F-St-NE-20002/home/9896874

$999K, 37 days on the market: https://www.redfin.com/DC/Washington/611-10th-St-NE-20002/home/9906128

$949K, 29 days on the market: https://www.redfin.com/DC/Washington/730-4th-St-NE-20002/home/9892561

$869K, 24 days on the market (this is a house on Emerald, where houses seem to sit, for some reason): https://www.redfin.com/DC/Washington/1357-Emerald-St-NE-20002/home/9912902

$859K, 45 days on the market (another Emerald house): https://www.redfin.com/DC/Washington/1368-Emerald-St-NE-20002/home/9912941

$869K, 92 days on the market: https://www.redfin.com/DC/Washington/1383-F-St-NE-20002/home/9913082

those are all “extended hill” and probably suffer from proximity to the cesspool that H St has become

F Street is within the boundaries of the historic district, so it's literally Capitol Hill. And a couple of the others are like three steps over the boundaries. You people who think Capitol Hill is like a four-square-block area sound moronic.

[Anonymous]

Anonymous wrote:Was thinking that maybe some sub-$2m houses west of 8th Street SE/north of the freeway would hit the market this week (post-Easter), but nada.

If we're spending your $2m monopoly money budget in the "close in Hill" I'm a huge fan of two options:
1) 103 6th St NE - 3 bed, 3.5 BA but easily convert the upstairs loft for a 3 upstairs/1br downstairs split. Tomorrow's open should be busy - the light looks really really lovely here (https://www.redfin.com/DC/Washington/103-6th-St-NE-20002/home/9899593)
2) 922 S. Carolina SE (3 bed, 1.5 BA) - one of my favorite houses to sell in the last few years. I'd offer $1.5m because I'm surprised it's still sitting (probably ambitious for them to expect a 200k appreciation in 18 months given how bad the bathroom reno was) (https://www.redfin.com/DC/Washington/922-S-Carolina-Ave-SE-20003/home/9905201#property-history)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Two sub $1m homes hit within Historic yesterday:

1) 604 E St SE (2br, 1.5 BA listed at $800k) - In bounds for Brent but could really use a facelift. I assume this will go QUICK just based on location

2) 418 10th St SE (4br/2.5 BA across 2 units - $900k). I don't love this location - it's kind of busy - but this is priced right for a 3br house upstairs and short term rental downstairs

604 E is contingent. That was fast.

10th St pending. Anything under $1m flies right now

Eh, not really. Some of the houses listed below need to be gutted, sure, but some of them seem perfectly fine and they're still sitting.

$859K, 164 days on the market: https://www.redfin.com/DC/Washington/608-9th-St-NE-20002/home/9902653

$900K, 240 days on the market: https://www.redfin.com/DC/Washington/511-F-St-NE-20002/home/9896874

$999K, 37 days on the market: https://www.redfin.com/DC/Washington/611-10th-St-NE-20002/home/9906128

$949K, 29 days on the market: https://www.redfin.com/DC/Washington/730-4th-St-NE-20002/home/9892561

$869K, 24 days on the market (this is a house on Emerald, where houses seem to sit, for some reason): https://www.redfin.com/DC/Washington/1357-Emerald-St-NE-20002/home/9912902

$859K, 45 days on the market (another Emerald house): https://www.redfin.com/DC/Washington/1368-Emerald-St-NE-20002/home/9912941

$869K, 92 days on the market: https://www.redfin.com/DC/Washington/1383-F-St-NE-20002/home/9913082

those are all “extended hill” and probably suffer from proximity to the cesspool that H St has become

F Street is within the boundaries of the historic district, so it's literally Capitol Hill. And a couple of the others are like three steps over the boundaries. You people who think Capitol Hill is like a four-square-block area sound moronic.

I mean, the numbers don’t like. Being located closer to H reduces value. I’ll grant you F & 5th is more central but apparently that one is a gut reno for 900k, overpriced.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Was thinking that maybe some sub-$2m houses west of 8th Street SE/north of the freeway would hit the market this week (post-Easter), but nada.

If we're spending your $2m monopoly money budget in the "close in Hill" I'm a huge fan of two options:
1) 103 6th St NE - 3 bed, 3.5 BA but easily convert the upstairs loft for a 3 upstairs/1br downstairs split. Tomorrow's open should be busy - the light looks really really lovely here (https://www.redfin.com/DC/Washington/103-6th-St-NE-20002/home/9899593)
2) 922 S. Carolina SE (3 bed, 1.5 BA) - one of my favorite houses to sell in the last few years. I'd offer $1.5m because I'm surprised it's still sitting (probably ambitious for them to expect a 200k appreciation in 18 months given how bad the bathroom reno was) (https://www.redfin.com/DC/Washington/922-S-Carolina-Ave-SE-20003/home/9905201#property-history)

Yes, though when I said "sub $2m" I meant more like "sub $1.5m" -- it's just that in the area west of 8th Street SE (I'm not looking at NE) houses list for $1m-$1.2m and are gone instantaneously.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Was thinking that maybe some sub-$2m houses west of 8th Street SE/north of the freeway would hit the market this week (post-Easter), but nada.

If we're spending your $2m monopoly money budget in the "close in Hill" I'm a huge fan of two options:
1) 103 6th St NE - 3 bed, 3.5 BA but easily convert the upstairs loft for a 3 upstairs/1br downstairs split. Tomorrow's open should be busy - the light looks really really lovely here (https://www.redfin.com/DC/Washington/103-6th-St-NE-20002/home/9899593)
2) 922 S. Carolina SE (3 bed, 1.5 BA) - one of my favorite houses to sell in the last few years. I'd offer $1.5m because I'm surprised it's still sitting (probably ambitious for them to expect a 200k appreciation in 18 months given how bad the bathroom reno was) (https://www.redfin.com/DC/Washington/922-S-Carolina-Ave-SE-20003/home/9905201#property-history)

Yes, though when I said "sub $2m" I meant more like "sub $1.5m" -- it's just that in the area west of 8th Street SE (I'm not looking at NE) houses list for $1m-$1.2m and are gone instantaneously.

Sub 1.5 million and sub 2 million are totally different things.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Was thinking that maybe some sub-$2m houses west of 8th Street SE/north of the freeway would hit the market this week (post-Easter), but nada.

If we're spending your $2m monopoly money budget in the "close in Hill" I'm a huge fan of two options:
1) 103 6th St NE - 3 bed, 3.5 BA but easily convert the upstairs loft for a 3 upstairs/1br downstairs split. Tomorrow's open should be busy - the light looks really really lovely here (https://www.redfin.com/DC/Washington/103-6th-St-NE-20002/home/9899593)
2) 922 S. Carolina SE (3 bed, 1.5 BA) - one of my favorite houses to sell in the last few years. I'd offer $1.5m because I'm surprised it's still sitting (probably ambitious for them to expect a 200k appreciation in 18 months given how bad the bathroom reno was) (https://www.redfin.com/DC/Washington/922-S-Carolina-Ave-SE-20003/home/9905201#property-history)

Yes, though when I said "sub $2m" I meant more like "sub $1.5m" -- it's just that in the area west of 8th Street SE (I'm not looking at NE) houses list for $1m-$1.2m and are gone instantaneously.

Sub 1.5 million and sub 2 million are totally different things.

Sub $1.5m but really $1-1.2m is an entirely different thing after that! Let's assume that you're a typical DCUMer looking for a 3BR+ home. For reference, there were 9 properties sold in the last 12 months that would meet your specs (3BR, in between 695 and East Capitol, between 1st and 8th).

- 2 multi-family properties (134 F St SE, 114 6th St SE)
- 2 "big projects" (e.g., 629 S. Carolina, $1.1m for a complete gut job; 105 8th St SE, which you may or may not like)

That leaves 5 properties that may or may not meet your needs. The myth of the million dollar "ish" family home on the Hill does not reflect the realities of the housing market for the last 3 years.

[Anonymous]

Capitol Hill homes are mouse infested and there is so much crime of opportunity that living there is so stressful, especially for a family. Most people flee to Arlington or Alexandria by the time their kids turn 6. But there are always 2 income big law couples who like to take their dog and stroller to Lincoln Park for a few years and live in a $1.1M house with shared walls and endless repairs.

[Anonymous]

Anonymous wrote:Capitol Hill homes are mouse infested and there is so much crime of opportunity that living there is so stressful, especially for a family. Most people flee to Arlington or Alexandria by the time their kids turn 6. But there are always 2 income big law couples who like to take their dog and stroller to Lincoln Park for a few years and live in a $1.1M house with shared walls and endless repairs.

Meh. We’re going on 13 great years on the Hill and a nice 40% appreciate of our rowhouse. Which yes had mice but they were easily evicted. Houses built 100 years ago are really solid and I would never trade for new construction. NoVa makes me want to gougue my eyes out. Talk about losers - paying $2 mil for a Lyon Park sh*tshack.

[Anonymous]

Actually, sub-$1.5m and $1-1.2m really are the same things, because the $1m-ish would be listing price, and sub-$1.5m would be the winning bid.

[Anonymous]

301 South Carolina is now pending. Given the price cut from a few months back and a slight further drop, I doubt it's going to go much above asking.