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

[Anonymous]

Anonymous wrote:This is a higher price point, but I’d also call it a steal:

https://www.redfin.com/DC/Washington/404-7th-St-NE-20002/home/9898988

Already pending, and I’ll be interested to see what it ended up going for. I know interest rates are high right now, but that listing price still seems low for that much house. Unless there’s something I’m missing.

Its very nice and spacious but twice the price of the other and more of a family home, not a starter or finisher home.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Talking of a steals. Here is another one.

https://www.redfin.com/DC/Washington/419-11th-St-SE-20003/home/9907550

I saw the other thread on this one. While the price is below recent market trends, and I can see it going over ask, I disagree it's a steal. Sub-800 sq ft is really really small, especially spread over two floors. You can upgrade all finishes but you're never getting more space out of that footprint -- the narrowness makes a popup nonsensical, and eating into the patio for space moving backwards is counterproductive, as the patio is probably one of the nicest spaces on the property.

I think these are a good investment but I couldn't live in one. Maybe to buy, fix up, and rent out, as an investment.

I can bet it would go above ask. I can absolutely see myself living there, less space but good saving compared to most row homes while living where i actually want to live.

Given that these condo alternatives were regularly going for $800k during the pandemic, yes, $595k is a comparative steal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is a higher price point, but I’d also call it a steal:

https://www.redfin.com/DC/Washington/404-7th-St-NE-20002/home/9898988

Already pending, and I’ll be interested to see what it ended up going for. I know interest rates are high right now, but that listing price still seems low for that much house. Unless there’s something I’m missing.

Its very nice and spacious but twice the price of the other and more of a family home, not a starter or finisher home.

Yes, this house is obviously not in the same category as a home with <800 square feet. The point was that only $1 million for a 4BR, 3BA, 2400+ sq foot, 4-level Wardman in a nice part of the Hill seems like an EXCEPTIONALLY good deal. Sure one of the upstairs bathrooms could use some work, and the basement bathroom is slightly outdated (though still in good shape), but everything else about this place looks pretty nice and move-in ready. I’m just saying that unless this went for quite a bit over asking, I’m wondering what the catch with the house is or if prices are really cooling so much that this is what $1 mil can buy you now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is a higher price point, but I’d also call it a steal:

https://www.redfin.com/DC/Washington/404-7th-St-NE-20002/home/9898988

Already pending, and I’ll be interested to see what it ended up going for. I know interest rates are high right now, but that listing price still seems low for that much house. Unless there’s something I’m missing.

Its very nice and spacious but twice the price of the other and more of a family home, not a starter or finisher home.

Yes, this house is obviously not in the same category as a home with <800 square feet. The point was that only $1 million for a 4BR, 3BA, 2400+ sq foot, 4-level Wardman in a nice part of the Hill seems like an EXCEPTIONALLY good deal. Sure one of the upstairs bathrooms could use some work, and the basement bathroom is slightly outdated (though still in good shape), but everything else about this place looks pretty nice and move-in ready. I’m just saying that unless this went for quite a bit over asking, I’m wondering what the catch with the house is or if prices are really cooling so much that this is what $1 mil can buy you now.

Indeed. I'm thinking of buying one as market could be very different in five years when we are due to retire and downsize. I can move in now and rent out my big house which is a PITA to maintain. I can sell that once market bounces back. Its boring in suburbs with kids at college.

[Anonymous]

https://www.redfin.com/DC/Washington/1005-I-St-SE-20003/home/9907684

Any thoughts?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is a higher price point, but I’d also call it a steal:

https://www.redfin.com/DC/Washington/404-7th-St-NE-20002/home/9898988

Already pending, and I’ll be interested to see what it ended up going for. I know interest rates are high right now, but that listing price still seems low for that much house. Unless there’s something I’m missing.

Its very nice and spacious but twice the price of the other and more of a family home, not a starter or finisher home.

Yes, this house is obviously not in the same category as a home with <800 square feet. The point was that only $1 million for a 4BR, 3BA, 2400+ sq foot, 4-level Wardman in a nice part of the Hill seems like an EXCEPTIONALLY good deal. Sure one of the upstairs bathrooms could use some work, and the basement bathroom is slightly outdated (though still in good shape), but everything else about this place looks pretty nice and move-in ready. I’m just saying that unless this went for quite a bit over asking, I’m wondering what the catch with the house is or if prices are really cooling so much that this is what $1 mil can buy you now.

The only things I can see is essentially no yard (just small front) and on street parking. Location is fantastic and I would give up my yard for that screened in porch.

[Anonymous]

+1 for screened in porch, useable almost all year round.

[Anonymous]

Anonymous wrote:https://www.redfin.com/DC/Washington/1005-I-St-SE-20003/home/9907684

Any thoughts?

It's a nice house that backs into a freeway. One price drop already. One more might be needed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.redfin.com/DC/Washington/1005-I-St-SE-20003/home/9907684

Any thoughts?

It's a nice house that backs into a freeway. One price drop already. One more might be needed.

+1 though I think it's an okay house, not that nice. Some of the updates look pretty nice (the kitchen, some aspects of the bathrooms) but other less so. I think it's really poorly photographed and styled -- if you look at the listing photos from the 2017 sale (in the sale/price history on Redfin) the house looks so much more appealing in those photos! Floors look warmer and lighter, whole house looks more filled with light and charming. I can't figure out if the photos are just bad with poor contrast, or if they made some questionable choices like maybe staining the floors a darker color? There is too much contrast between the dark floors and the light walls that is giving the impression of a darker space and cheaper finishes. Also the older photos make the side patio look much more welcoming and wider.

But the biggest issue is location -- houses within a block or two of SE freeway regularly get a hefty discount even in a neighborhood that has seen prices skyrocket. That freeway is LOUD and prone to accidents.

Agree another price drop is likely in order. Or better staging and photos maybe.

[Anonymous]

Folks, there are serious deals to be had in this neighborhood right now. Just got a notice on this sale, which closed yesterday:

https://www.redfin.com/DC/Washington/313-17th-St-NE-20002/home/10115393

No interior photos and despite assurances in the description that it's move-in ready, I'm assuming it needs a lot of work. However: $725k, IB for Maury, 3 bedrooms, nearly 2k sq ft. Row house, not condo. This would not have happened a year or two ago. If you are in the market, just know this stuff is out there. I would have been THRILLED for a fixer upper in this neighborhood and price range back in 2019 when we bought!

[Anonymous]

Anonymous wrote:Folks, there are serious deals to be had in this neighborhood right now. Just got a notice on this sale, which closed yesterday:

https://www.redfin.com/DC/Washington/313-17th-St-NE-20002/home/10115393

No interior photos and despite assurances in the description that it's move-in ready, I'm assuming it needs a lot of work. However: $725k, IB for Maury, 3 bedrooms, nearly 2k sq ft. Row house, not condo. This would not have happened a year or two ago. If you are in the market, just know this stuff is out there. I would have been THRILLED for a fixer upper in this neighborhood and price range back in 2019 when we bought!

There were actually 15 houses of that description that came on the market in the past 2 years. My assumption is that many more went in all-cash deals to flippers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.redfin.com/DC/Washington/1005-I-St-SE-20003/home/9907684

Any thoughts?

It's a nice house that backs into a freeway. One price drop already. One more might be needed.

+1 though I think it's an okay house, not that nice. Some of the updates look pretty nice (the kitchen, some aspects of the bathrooms) but other less so. I think it's really poorly photographed and styled -- if you look at the listing photos from the 2017 sale (in the sale/price history on Redfin) the house looks so much more appealing in those photos! Floors look warmer and lighter, whole house looks more filled with light and charming. I can't figure out if the photos are just bad with poor contrast, or if they made some questionable choices like maybe staining the floors a darker color? There is too much contrast between the dark floors and the light walls that is giving the impression of a darker space and cheaper finishes. Also the older photos make the side patio look much more welcoming and wider.

But the biggest issue is location -- houses within a block or two of SE freeway regularly get a hefty discount even in a neighborhood that has seen prices skyrocket. That freeway is LOUD and prone to accidents.

Agree another price drop is likely in order. Or better staging and photos maybe.

I’d say 2 price drops. I don’t see this going for more than $850. I wouldn’t be surprised if it’s closer to $800.

[Anonymous]

I would prefer one in historic district, closer to Eastern Market, with one assigned parking and below $800k. Please post if you hear of an upcoming pocket listing.

[Anonymous]

Anonymous wrote:I would prefer one in historic district, closer to Eastern Market, with one assigned parking and below $800k. Please post if you hear of an upcoming pocket listing.

Unless the market has really changed, that house will be well under 1000 sf.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would prefer one in historic district, closer to Eastern Market, with one assigned parking and below $800k. Please post if you hear of an upcoming pocket listing.

Unless the market has really changed, that house will be well under 1000 sf.

That's fine, actually preferred. I'm trying to minimize spending, debt, maintenance and environmental footprint.