Are these H St. NE / Capitol Hill houses priced appropriately?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well this one is an interesting home. I at first thought it was a former restaurant

https://www.redfin.com/DC/Washington/1107-6th-St-NE-20002/home/9897959

I remember seeing that last year when it was on the market. They've been trying to sell it for a while. It's an interesting renovation, but I can't picture myself living there. I love the eclectic look, but the only way that ground floor works is if someone wanted to open a coffee shop.

This UrbanTurf item has more info about the property. It was for sale in May, 2019, for $1,070,000:
https://dc.urbanturf.com/articles/blog/this-weeks-find-an-artists-vision-off-h-street/15402

I guess that's a lesson that an eclectic reno is a bit too niche if it's not your forever home. Also, given they are having trouble selling it the way it is, it shouldn't be too hard to tone it down a bit...starting with the creepy bed in the basement unit.

[Anonymous]

Anonymous wrote:I guess that's a lesson that an eclectic reno is a bit too niche if it's not your forever home. Also, given they are having trouble selling it the way it is, it shouldn't be too hard to tone it down a bit...starting with the creepy bed in the basement unit.

Which bed is that? The one next to the big "POLISH NOOK" sign? I actually like that a lot. It's got a sort of Near-eastern Persian or Turkish feel to it. I'd call it "exotic," not "creepy."

[Anonymous]

Anonymous wrote:

Anonymous wrote:I guess that's a lesson that an eclectic reno is a bit too niche if it's not your forever home. Also, given they are having trouble selling it the way it is, it shouldn't be too hard to tone it down a bit...starting with the creepy bed in the basement unit.

Which bed is that? The one next to the big "POLISH NOOK" sign? I actually like that a lot. It's got a sort of Near-eastern Persian or Turkish feel to it. I'd call it "exotic," not "creepy."

Yeah that one - not quite for me

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well this one is an interesting home. I at first thought it was a former restaurant

https://www.redfin.com/DC/Washington/1107-6th-St-NE-20002/home/9897959

I remember seeing that last year when it was on the market. They've been trying to sell it for a while. It's an interesting renovation, but I can't picture myself living there. I love the eclectic look, but the only way that ground floor works is if someone wanted to open a coffee shop.

This UrbanTurf item has more info about the property. It was for sale in May, 2019, for $1,070,000:
https://dc.urbanturf.com/articles/blog/this-weeks-find-an-artists-vision-off-h-street/15402

I guess that's a lesson that an eclectic reno is a bit too niche if it's not your forever home. Also, given they are having trouble selling it the way it is, it shouldn't be too hard to tone it down a bit...starting with the creepy bed in the basement unit.

It was an Airbnb. A renovation like this is great for an Airbnb because people will pay extra for the funky character, but since renting a house as a full-time Airbnb is no longer legal in DC, the house is proving difficult to sell.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well this one is an interesting home. I at first thought it was a former restaurant

https://www.redfin.com/DC/Washington/1107-6th-St-NE-20002/home/9897959

I remember seeing that last year when it was on the market. They've been trying to sell it for a while. It's an interesting renovation, but I can't picture myself living there. I love the eclectic look, but the only way that ground floor works is if someone wanted to open a coffee shop.

This UrbanTurf item has more info about the property. It was for sale in May, 2019, for $1,070,000:
https://dc.urbanturf.com/articles/blog/this-weeks-find-an-artists-vision-off-h-street/15402

I guess that's a lesson that an eclectic reno is a bit too niche if it's not your forever home. Also, given they are having trouble selling it the way it is, it shouldn't be too hard to tone it down a bit...starting with the creepy bed in the basement unit.

It was an Airbnb. A renovation like this is great for an Airbnb because people will pay extra for the funky character, but since renting a house as a full-time Airbnb is no longer legal in DC, the house is proving difficult to sell.

Right - it does seem that given it's difficult to sell, they could scale back on some of the touches without spending too much money to make it more palatable to buyers.

[Anonymous]

Anonymous wrote:Right - it does seem that given it's difficult to sell, they could scale back on some of the touches without spending too much money to make it more palatable to buyers.

I don't know—that coffee-shop level needs a complete redo to turn it into a reasonable living area, IMO. And many people will nope out as soon as they see the spiral staircase. This may actually need another major renovation (an un-reno?) to sell.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well this one is an interesting home. I at first thought it was a former restaurant

https://www.redfin.com/DC/Washington/1107-6th-St-NE-20002/home/9897959

I remember seeing that last year when it was on the market. They've been trying to sell it for a while. It's an interesting renovation, but I can't picture myself living there. I love the eclectic look, but the only way that ground floor works is if someone wanted to open a coffee shop.

This UrbanTurf item has more info about the property. It was for sale in May, 2019, for $1,070,000:
https://dc.urbanturf.com/articles/blog/this-weeks-find-an-artists-vision-off-h-street/15402

I guess that's a lesson that an eclectic reno is a bit too niche if it's not your forever home. Also, given they are having trouble selling it the way it is, it shouldn't be too hard to tone it down a bit...starting with the creepy bed in the basement unit.

It was an Airbnb. A renovation like this is great for an Airbnb because people will pay extra for the funky character, but since renting a house as a full-time Airbnb is no longer legal in DC, the house is proving difficult to sell.

Is it finally true that renting a house full time is illegal? I thought some sort of implementing regulations still needed to be finalized... And houses seem to still be listed on the site (e.g., https://www.airbnb.com/rooms/16380350/)

Don't get me wrong, I want to see this happen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$799k is very low for this one. No way it goes for under $900k, probably closer to a million. It has a separate rental unit with a CoO. The house will sell itself, it's a shame the listing agent felt the need to lie. There is no master suite, and the den / walk-in closet they're calling a bedroom is not a legal bedroom.

https://www.redfin.com/DC/Washington/1037-5th-St-NE-20002/home/9896487

I agree that it will go for well over asking, but close to a million seems high to me. North of H doesn't quite draw the same prices that similar rowhomes south of H get. The rear space is so so tiny—one picture shows what looks like a tomato plant, but how can that plant possibly get enough sun? At least it's backing to a church, noise shouldn't be a problem most of the week. And I'm not so sure that the separate unit in the basement is a feature—yes, it's extra income to offset the mortgage, but it would also mean having to be a landlord, which not everyone wants. And the owners would only have 1,096 sf of living space of their own, with no storage space.

I'd predict high $800s, personally. Maybe low $900s.

. Although this one is south of H…. I predict 950k…

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$799k is very low for this one. No way it goes for under $900k, probably closer to a million. It has a separate rental unit with a CoO. The house will sell itself, it's a shame the listing agent felt the need to lie. There is no master suite, and the den / walk-in closet they're calling a bedroom is not a legal bedroom.

https://www.redfin.com/DC/Washington/1037-5th-St-NE-20002/home/9896487

I agree that it will go for well over asking, but close to a million seems high to me. North of H doesn't quite draw the same prices that similar rowhomes south of H get. The rear space is so so tiny—one picture shows what looks like a tomato plant, but how can that plant possibly get enough sun? At least it's backing to a church, noise shouldn't be a problem most of the week. And I'm not so sure that the separate unit in the basement is a feature—yes, it's extra income to offset the mortgage, but it would also mean having to be a landlord, which not everyone wants. And the owners would only have 1,096 sf of living space of their own, with no storage space.

I'd predict high $800s, personally. Maybe low $900s.

. Although this one is south of H…. I predict 950k…

NP - it is north of H.

[Anonymous]

I was referring to the 13th & MD Avenue being south of H

[Anonymous]

Anonymous wrote:

Anonymous wrote:$799k is very low for this one. No way it goes for under $900k, probably closer to a million. It has a separate rental unit with a CoO. The house will sell itself, it's a shame the listing agent felt the need to lie. There is no master suite, and the den / walk-in closet they're calling a bedroom is not a legal bedroom.

https://www.redfin.com/DC/Washington/1037-5th-St-NE-20002/home/9896487

I agree that it will go for well over asking, but close to a million seems high to me. North of H doesn't quite draw the same prices that similar rowhomes south of H get. The rear space is so so tiny—one picture shows what looks like a tomato plant, but how can that plant possibly get enough sun? At least it's backing to a church, noise shouldn't be a problem most of the week. And I'm not so sure that the separate unit in the basement is a feature—yes, it's extra income to offset the mortgage, but it would also mean having to be a landlord, which not everyone wants. And the owners would only have 1,096 sf of living space of their own, with no storage space.

I'd predict high $800s, personally. Maybe low $900s.

It's a separate studio apartment. Most people would probably use it as an AirBnB or intern housing -- short term income boost when convenient, without having to be a full-time landlord.

[Anonymous]

Well this one will be interesting.

It used to be one of those cute one story houses on the Hill, but a developer bought it, gutted it and turned it into a 5 bedroom that is a two bedroom apartment on the first floor and a three bedroom house on the second and third floors. Selling it all together for $1.9 million.

https://www.redfin.com/DC/Washington/1351-C-St-NE-20002/home/9913704

Setting aside the new exterior (which is a total eyesore on a block full of small 2 bedroom homes), I'm curious what people think of the developer's strategy. I just can't imagine wanting to live only in the 2nd and 3rd floor of a house I'd paid $1.9 million for - having to go upstairs, etc. But then the first floor feels unnecessarily nice for an income rental. Perhaps it works for a multigenerational family? But how many of those are there shopping on the Hill at this price point?

[Anonymous]

Anonymous wrote:Well this one will be interesting.

It used to be one of those cute one story houses on the Hill, but a developer bought it, gutted it and turned it into a 5 bedroom that is a two bedroom apartment on the first floor and a three bedroom house on the second and third floors. Selling it all together for $1.9 million.

https://www.redfin.com/DC/Washington/1351-C-St-NE-20002/home/9913704

Setting aside the new exterior (which is a total eyesore on a block full of small 2 bedroom homes), I'm curious what people think of the developer's strategy. I just can't imagine wanting to live only in the 2nd and 3rd floor of a house I'd paid $1.9 million for - having to go upstairs, etc. But then the first floor feels unnecessarily nice for an income rental. Perhaps it works for a multigenerational family? But how many of those are there shopping on the Hill at this price point?

Is there demand for homes with a separate unit? Like English basements on the Hill? Does the unit have to have CofO?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well this one will be interesting.

It used to be one of those cute one story houses on the Hill, but a developer bought it, gutted it and turned it into a 5 bedroom that is a two bedroom apartment on the first floor and a three bedroom house on the second and third floors. Selling it all together for $1.9 million.

https://www.redfin.com/DC/Washington/1351-C-St-NE-20002/home/9913704

Setting aside the new exterior (which is a total eyesore on a block full of small 2 bedroom homes), I'm curious what people think of the developer's strategy. I just can't imagine wanting to live only in the 2nd and 3rd floor of a house I'd paid $1.9 million for - having to go upstairs, etc. But then the first floor feels unnecessarily nice for an income rental. Perhaps it works for a multigenerational family? But how many of those are there shopping on the Hill at this price point?

Is there demand for homes with a separate unit? Like English basements on the Hill? Does the unit have to have CofO?

My DH lived with a roommate in a two bedroom English basement rowhouse that was like this. Separate entrance and no staircase from basement apartment upstairs inside the apartment. This was a decade ago, but it was a fairly new and very large rowhouse. Didn't seem that unusual given so many folks rent out their basement on Capitol Hill.

[Anonymous]

Anonymous wrote:Well this one will be interesting.

It used to be one of those cute one story houses on the Hill, but a developer bought it, gutted it and turned it into a 5 bedroom that is a two bedroom apartment on the first floor and a three bedroom house on the second and third floors. Selling it all together for $1.9 million.

https://www.redfin.com/DC/Washington/1351-C-St-NE-20002/home/9913704

Setting aside the new exterior (which is a total eyesore on a block full of small 2 bedroom homes), I'm curious what people think of the developer's strategy. I just can't imagine wanting to live only in the 2nd and 3rd floor of a house I'd paid $1.9 million for - having to go upstairs, etc. But then the first floor feels unnecessarily nice for an income rental. Perhaps it works for a multigenerational family? But how many of those are there shopping on the Hill at this price point?

When I have seen listings like this before, usually the two units are also listed separately so you have the option of buying the building or just one unit. There was one on I Street like this (I think near 11th?) last year and I was curious what would happen, but ultimately the units sold separately (the bottom unit took longer to sell, which is typical).

I personally would not want to be the landlord to a unit that large. They say in the listing you could use it as an in-law residence, Airbnb, or rental unit, and the only one that makes sense to me is the in-law unit (if you could afford it, that would actually be a pretty great set up, assuming you got along with your ILs). Renting something like that out as an Airbnb would be a part-time job and could be very annoying while living there (noise, parties, total strangers in and out of your house all the time) and long-term renters would be only a little better.

I wouldn't be surprised if we see the units listed separately in a few weeks if the seller doesn't get any bites on the building.