Are these H St. NE / Capitol Hill houses priced appropriately?
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Anonymous
Love the house, the floors, and the location. And frankly don’t like what they did in the kitchen and would prefer I renovated. PP, you guys selling a time soon 
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Anonymous
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I know this is a little too expensive for this thread, but what do people think about the pricing on this one?
$1,150,000, 4BR/4BA, 2,975 sqft: https://www.redfin.com/DC/Washington/503-Constitution-Ave-NE-20002/home/9897129 The location is great, but it’s configured as four units that are deeply in need of updating. Is $1.15 million actually the going rate for an investment property or flip target, even in that location? |
Anonymous
| seems cheap for that location. it will go pretty quickly |
Anonymous
Anonymous
I also love it (meh on the kitchen however). Three real bedrooms and a finished basement in a good location. |
Anonymous
Listed, price change, pending/contingent, then pending/contingent again, then sold for $75k under asking (and $100k under original list). Though it only took 4 months, which is better than other listings on that strip have done. Seller must have been very motivated. I am extremely glad I don't own a place on that block. |
Anonymous
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Anonymous
 How much would you knock off that price to take into account the need to renovate? Our house was last renovated in the 90s and still has original windows and molding that needs to be replaced too (due to lead paint).
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Anonymous
PP here. With the caveat that we are actually not in the market (we want to stay in our condo a few more years until Union Market is fully developed because we think it will really boost our value), I'd probably be hoping to get it for 850k but willing to go as high as 899k. Though to be totally honest, in that location and if the house is in good condition, I think if you timed it right you could easily get a bidding war. Just not sure we'd be able to hang in. What school are you zoned for? We've been in the neighborhood for about 10 years (first renters, now in a condo), and that area around Lincoln Park has quickly become our one of our favorites. Love the park, love the way the streets look, love the proximity to both H and Eastern Market. We actually looked a condo east of the park back in 2013 and rejected it as "too far out". Kind of kicking ourselves now! |
Anonymous
| May I ask why this thread clumps H Street with Capitol Hill? Shouldn’t be one thread for “Near Northeast/ H Street Corridor” and another for “Capitol Hill,?” |
Anonymous
There's no good way to divide them. Does someone who lives between F Street and H Street live in "H Street" or "Capitol Hill". Any border would be imaginary and is not reflected by school boundaries or the way people socialize with neighbors. And it wouldn't make sense to call stuff north of H "H Street" and stuff immediately to the south "Capital Hill". Meanwhile, the freeway is an obvious southern boundary, and Florida and obvious northern boundary. Everything in between is pretty much the same neighborhood (and even some people north of Florida will spend most of their time in H Street/CapHill because there's nothing really north of Union Market/Gallaudet/Trinidad in terms of residential). |
Anonymous
We almost did. Glad we didn’t as well. Although I’m one of the weirdos that liked the above house for some reason, at least from the pics. I think I was attracted to the interior colors. |
Anonymous
Oh, I actually liked it too. It got a lot of hate on DCUM for dumb reasons like the staging and the location of the kitchen (which I actually like as a way to break up on of those wide open main floors. It's not perfect. I think the outdoor space is kind of a bummer for that much money (the roofdeck is so inaccessible when you have guests, and there's no yard or real deck, just a little balcony). But the house itself is pretty nice, tons of space, plus the finished basement, and parking. It checks a ton of boxes for me. But that block. Ugh. |
Anonymous
The only people who spend more then 2 seconds on this thought are 60, 70 and 80 year old little white real estate agents (knit skirt and scarf!) who still think there's some value to being "on the Hill" and are still not sure they would be willing to live near or north of H Street because it is sooooooooooo scary. For many homebuyers, the idea of living near actual amenities is a positive. |
Anonymous
There's a mean girls tendency on this thread to somehow equate a house that went contingent and back on market with spoiled goods. There are lots of reasons a contract would kick out, and many of them don't mean what the mean girls think it means. There's also a pervasive thread on this thread where people view a house that sells for less than list as a failure. Particularly with regard to houses for which there aren't great comps in the immediate area, the seller is playing a guessing game. In the grand scheme of a house at 1.1-1.3, $25k is very little. Posts like this seem like little more than confirmation bias personified. |