Are these H St. NE / Capitol Hill houses priced appropriately?
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Anonymous
NP but it's still a steal (and will go for over asking). Basement unit could be renovated to be a IL unit or rented out for extra income. There's outdoor space and the location is incredible. Definitely wildly underpriced and I would expect it to go for close to if not over $1m, unless there is some major issue that is not apparent from the listing. One question I have is why no photos of the basement unit -- it may already have a tenant which is a wildcard. But the house is still not market priced even if that's the case. |
Anonymous
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I know people don't tend to want to talk condos on here, but these two listing are a huge question mark for me. Same building. The one priced at $925k is a higher floor and a bit bigger, but otherwise same finishes and layout. I assumed it had a private roof deck but nope -- they both have access to a shared roof deck. What's going on here? 250k price differential is huge and makes the 2nd floor unit look like a bargain.
https://www.redfin.com/DC/Washington/915-12th-St-NE-20002/unit-5/home/169239241 (925k) https://www.redfin.com/DC/Washington/915-12th-St-NE-20002/unit-2/home/101809815 (670k) |
Anonymous
One is a second-floor unit. The other one is the penthouse unit with a private elevator, a private balcony (separate from the roof deck), and more square footage (including much larger bedrooms). What's difficult to understand? |
Anonymous
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For a family with one kid (or a high tolerance for room-sharing), this place seems like a terrific bargain: https://www.redfin.com/DC/Washington/338-19th-St-NE-20002/home/10115185?2093706699=no_custom_share_sheet&1280460695=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
It looks well maintained and is zoned for Maury. All for under 700k! I’m not familiar with this block but I live in the greater neighborhood and I feel like it’s a long time since I saw anything updated in the 600s. |
Anonymous
The balcony is small and has an awful view. The additional square footage doesn’t seem worth the cost (more than 1k for each additional square foot?). I get that the higher floor and elevator is worth something, but still seems overpriced. I would feel differently if it had a private deck. But I still think 925k is high for a 2 bed-2 bath condo, even in this market. I think you need really high end finishes, a killer location, and/or extras like functional outdoor space or bonus space. I would expect this to go under asking, or to price drop at some point. |
Anonymous
Seems priced for a bidding war. |
Anonymous
Looks cute in photos but most people aren't going to enjoy the reality of a 1930s bathroom and window A/C. Those kitchen appliances look a bit rustic as well. Kitchen + bath + HVAC reno would easily cost $150k. I think it's priced appropriately but will probably go for mid-700. |
Anonymous
There are pics of the basement unit which is actually at ground level, there’s a red car parked in front of the LR window. Also see the b/w bathroom and the white kitchen with the vintage flooring, all in that unit. Definitely seems underpriced. |
Anonymous
Not quite underpriced… three houses on that side of the block have sold within the last year. I think the nicest went for 900000. This house is freshly painted with new cabinets and a few cosmetic updates. I think it’s comparable to the 900,000 but definitely not at a million. |
Anonymous
Closed for $690,000. That is *quite* the discount from the listing price of $800k, and lower than I figured even a burned out shell would go for on this block. I feel like we deserve to know what was wrong with this house. I know someone here knows who bought it ... get them to spill the beans. |
Anonymous
Revisiting this post. I felt that last week it was too early to assume anything about the market based on the status of these homes. On the day this post was made, these 13 houses had been listed for (on average) 8 days. Five were under contract and 8 were not. In the intervening week, an additional house went under contract, while 6 remain pending. (And, one was delisted.) What do the arm chair real estate experts think? Does the fact the homes that were not under contract after eight days are still for sale say something about the market? Or does it say something about these houses? (The ones still available are: https://www.redfin.com/DC/Washington/1418-D-St-NE-20002/home/9916050 https://www.redfin.com/DC/Washington/231-Warren-St-NE-20002/home/9913760 https://www.redfin.com/DC/Washington/1316-Florida-Ave-NE-20002/home/10305185 https://www.redfin.com/DC/Washington/710-13th-St-NE-20002/home/10177584 https://www.redfin.com/DC/Washington/251-14th-Pl-NE-20002/home/9916562 https://www.redfin.com/DC/Washington/1380-E-St-NE-20002/home/9912773 ) |
Anonymous
Am I the only one who doesn't get the fascination here with Emerald St.? I live nearby and walked over there recently and was seriously underwhelmed... Houses right on top of the (narrow) street, small lots with it being sandwiched in between two normal streets, no old growth tall trees that you see on most blocks, and really close to the starburst intersection. It looked like something out of the Wire but some of the houses had been flipped. YMMV. |
Anonymous
It’s cute and has a nice sense of community but I agree that it isn’t exactly beautiful. Some other streets (such as Linden Place have a similar set-up but better houses and more charm. |
Anonymous
It's a one-block historic district, so you know you'll never end up with a hideous pop-up next to you. The narrow street is a huge plus -- much less through-traffic and fewer loiterers than neighboring blocks. |
Anonymous
I think part of the interest in that street is that a number of recently renovated homes on Emerald have gone for some eye-popping numbers even though the houses are tiny, have basically zero outdoor space and are not easily walkable to Metro (Stadium-Armory, the closest station, is a 23-minute walk). Plus, from the outside it's a charming little block. But as we've seen with the two recent listings that sat forever, unrenovated Emerald houses are a much tougher sell. |