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

[Anonymous]

What do we think about this one? 1500 sq ft for $700k just blocks from Union Station. It's marketed to flippers but priced within reach of someone who would actually want to live there. If flipped, can this block handle a $2M rowhouse? Or would it get a tacky pop-up and be sold as separate condos?

https://www.redfin.com/DC/Washington/232-Parker-St-NE-20002/home/9890937

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow, that is a lot of money for that location, IMO. Nice house though.

Assuming you don't have MS/HS kids, that's a great location and a GIANT house, legally fully fenced in outdoor space, and a garage (albet with technically illegal driveway.) 8 minute walk to metro. Can stroll or bike to restaurants/bars on H St and Penn Ave.

Or even better, if you DO have older kids and they’re settled in their schools somewhere. This is a great neighborhood for older kids. They have lots of independence and they all know each other, even if they end up at different schools.

[Anonymous]

Anonymous wrote:What do we think about this one? 1500 sq ft for $700k just blocks from Union Station. It's marketed to flippers but priced within reach of someone who would actually want to live there. If flipped, can this block handle a $2M rowhouse? Or would it get a tacky pop-up and be sold as separate condos?

https://www.redfin.com/DC/Washington/232-Parker-St-NE-20002/home/9890937

The lack of photos indicates to me it’s not in livable condition, so I feel confident it’s going to a developer. Even if an individual buyer wanted to pick it up, commercial purchasers generally have an edge because they can offer cash or already have financing in place that allows them to beat out other offers.

I am hoping for condos over a 2m house simply because I’m always in favor of more density.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow, that is a lot of money for that location, IMO. Nice house though.

Assuming you don't have MS/HS kids, that's a great location and a GIANT house, legally fully fenced in outdoor space, and a garage (albet with technically illegal driveway.) 8 minute walk to metro. Can stroll or bike to restaurants/bars on H St and Penn Ave.

Or even better, if you DO have older kids and they’re settled in their schools somewhere. This is a great neighborhood for older kids. They have lots of independence and they all know each other, even if they end up at different schools.

+1, proximity to metro makes this very doable for older kids who attend Banneker, Walls, or another metro accessible school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What do we think about this one? 1500 sq ft for $700k just blocks from Union Station. It's marketed to flippers but priced within reach of someone who would actually want to live there. If flipped, can this block handle a $2M rowhouse? Or would it get a tacky pop-up and be sold as separate condos?

https://www.redfin.com/DC/Washington/232-Parker-St-NE-20002/home/9890937

The lack of photos indicates to me it’s not in livable condition, so I feel confident it’s going to a developer. Even if an individual buyer wanted to pick it up, commercial purchasers generally have an edge because they can offer cash or already have financing in place that allows them to beat out other offers.

I am hoping for condos over a 2m house simply because I’m always in favor of more density.

This block has a large condo building on it and construction is beginning on a high-rise apartment building, so I'm thinking yeah this will definitely be popped up for multiple units. The other houses on this block are really tiny to be as close to a prime area as they are, so it's probably just a matter of time before they're all redeveloped.

[Anonymous]

Anonymous wrote:A few pages back we talked about the juxtaposition of two houses:

1338 D St NE - nice renovation, IB Miner, $1,275,000 https://www.redfin.com/DC/Washington/1338-D-St-NE-20002/home/9913139
1333 D St NE - "vintage" house, IB Maury, $850,000 https://www.redfin.com/DC/Washington/1333-D-St-NE-20002/home/9913321

I am watching these because I live nearby. Both are now contingent. Can't wait to see the closing numbers. Will report back!

Back to report on these two D St houses.

1338, renovated, IB Miner, went for $1.25
1333, vintage, IB Maury, went for $800

[Anonymous]

Anonymous wrote:What do we think about this one? 1500 sq ft for $700k just blocks from Union Station. It's marketed to flippers but priced within reach of someone who would actually want to live there. If flipped, can this block handle a $2M rowhouse? Or would it get a tacky pop-up and be sold as separate condos?

https://www.redfin.com/DC/Washington/232-Parker-St-NE-20002/home/9890937

Still on the market, no price cut yet.

[Anonymous]

Anonymous wrote:Not sure what the realtor is thinking with all the photos of moving boxes and messy rooms, but here's an unrenovated, tenant-occupied 4/3.5 on G between 6th and 7th.

https://www.redfin.com/DC/Washington/622-G-St-NE-20002/home/9898467

$1.35 for 3/2.5 pretty close to Union Station on F Street, with English basement apt. that has a C of O.

https://www.redfin.com/DC/Washington/226-F-St-NE-20002/home/9891037

Both still on the market at original asking prices.

[Anonymous]

Anonymous wrote:$985k for a 2/2 at 10th and F. Dated but seemingly usable kitchen, kind of a weird first-floor layout, no first-floor bathroom/powder room (second full bathroom is in the basement family room), some outdoor space.

https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

I dunno, this seems like it's a bit high for only two bedrooms and the aforementioned quibbles. Been on the market for 8 days now.

This got a price cut before it was taken off the market.

Seems like the houses with issues are sitting longer these days, which isn't super surprising.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow, that is a lot of money for that location, IMO. Nice house though.

Assuming you don't have MS/HS kids, that's a great location and a GIANT house, legally fully fenced in outdoor space, and a garage (albet with technically illegal driveway.) 8 minute walk to metro. Can stroll or bike to restaurants/bars on H St and Penn Ave.

Or even better, if you DO have older kids and they’re settled in their schools somewhere. This is a great neighborhood for older kids. They have lots of independence and they all know each other, even if they end up at different schools.

+1, proximity to metro makes this very doable for older kids who attend Banneker, Walls, or another metro accessible school.

Isn't this house in the Maury boundary?

[Anonymous]

Anonymous wrote:

Anonymous wrote:What do we think about this one? 1500 sq ft for $700k just blocks from Union Station. It's marketed to flippers but priced within reach of someone who would actually want to live there. If flipped, can this block handle a $2M rowhouse? Or would it get a tacky pop-up and be sold as separate condos?

https://www.redfin.com/DC/Washington/232-Parker-St-NE-20002/home/9890937

Still on the market, no price cut yet.

It must be a mess inside.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$985k for a 2/2 at 10th and F. Dated but seemingly usable kitchen, kind of a weird first-floor layout, no first-floor bathroom/powder room (second full bathroom is in the basement family room), some outdoor space.

https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

I dunno, this seems like it's a bit high for only two bedrooms and the aforementioned quibbles. Been on the market for 8 days now.

This got a price cut before it was taken off the market.

Seems like the houses with issues are sitting longer these days, which isn't super surprising.

According to the price history, the current owner bought for $45,000 in 1995. And they are pulling it off the market bc they can't sell for $985k? I mean, just sell for $900k, you still made like a 1000% profit

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$985k for a 2/2 at 10th and F. Dated but seemingly usable kitchen, kind of a weird first-floor layout, no first-floor bathroom/powder room (second full bathroom is in the basement family room), some outdoor space.

https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

I dunno, this seems like it's a bit high for only two bedrooms and the aforementioned quibbles. Been on the market for 8 days now.

This got a price cut before it was taken off the market.

Seems like the houses with issues are sitting longer these days, which isn't super surprising.

According to the price history, the current owner bought for $45,000 in 1995. And they are pulling it off the market bc they can't sell for $985k? I mean, just sell for $900k, you still made like a 1000% profit

May be they spent additional money on renovation? Realtor commission and closing costs also inflate costs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$985k for a 2/2 at 10th and F. Dated but seemingly usable kitchen, kind of a weird first-floor layout, no first-floor bathroom/powder room (second full bathroom is in the basement family room), some outdoor space.

https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

I dunno, this seems like it's a bit high for only two bedrooms and the aforementioned quibbles. Been on the market for 8 days now.

This got a price cut before it was taken off the market.

Seems like the houses with issues are sitting longer these days, which isn't super surprising.

Rising rates make a fixer-upper much less attractive to me -- money we might have allotted to renovations will go to mortgage and I don't want to live with one bathroom or a terrible kitchen for 8 years. I'd rather buy something smaller or further out but updated, or cheap enough to enable us to make the key updates sooner.

This is especially true when inflation is also making the cost of renovation so much higher. The idea of spending 800-900k on a house that needs a new kitchen or an added bath is absurd to me.

[Anonymous]

New listing right by Eastern Market. I'm guessing it won't last long, but it seems on the high end of its price range.

https://www.redfin.com/DC/Washington/108-7th-St-SE-20003/home/9901753