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

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think both 8th Street houses are far enough from the loitering at 8th & H. The first house was insane to list so high initially. The 2nd house has really tiny bedrooms and probably should have waited until Jan/Feb to list instead of December.

Disagree. While 8th & H is uniquely bad, there's also often tons of people at the corner of 8th & K. The house near K Street, in particular, is problematic because there is a bus stop right in front of it. And the house further north suffers from being near Florida Avenue. It's just not a super pleasant strip of residential homes because there are always so many people around. And it's not like living near a strip of restaurants or something. It's just random strangers, all the time. It's a weird mix because if it was a commercial strip, it would be fine (because all the homes would be above street level, in apartments, and because people would know going in that it was a busy area with lots of street traffic). But it's entirely residential, without a single business on the street. It just winds up feeling transient and unpleasant.

This house is across the street from one of those listed and sold quickly and above the listing price https://www.redfin.com/DC/Washington/729-K-St-NE-20002/home/9901021

Yes, that's a 4 bedroom, 3.5 bath, renovated row house with a big yard (i.e. large street buffer) that sold for just over 900k. Of course it sold quickly, as that's impossible to come by in this area. Move that house south of H, or even onto another stretch of K or I street, and it would have gone for over a million.

There's an 8th street discount, at least for the stretch between H and Florida.

Like this one, a block away. Also a 4/3.5 on a corner lot with a decent sized yard. Nicer upgrades but less outdoor space and it's a narrower, smaller home. It went for just under 1.2m.

Whoops, forgot the link: https://www.redfin.com/DC/Washington/1101-7th-St-NE-20002/home/9900901

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think both 8th Street houses are far enough from the loitering at 8th & H. The first house was insane to list so high initially. The 2nd house has really tiny bedrooms and probably should have waited until Jan/Feb to list instead of December.

Disagree. While 8th & H is uniquely bad, there's also often tons of people at the corner of 8th & K. The house near K Street, in particular, is problematic because there is a bus stop right in front of it. And the house further north suffers from being near Florida Avenue. It's just not a super pleasant strip of residential homes because there are always so many people around. And it's not like living near a strip of restaurants or something. It's just random strangers, all the time. It's a weird mix because if it was a commercial strip, it would be fine (because all the homes would be above street level, in apartments, and because people would know going in that it was a busy area with lots of street traffic). But it's entirely residential, without a single business on the street. It just winds up feeling transient and unpleasant.

This sums it up perfectly. I feel the same way about some of the other transitional blocks in the neighborhood -- random strangers, all the time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think both 8th Street houses are far enough from the loitering at 8th & H. The first house was insane to list so high initially. The 2nd house has really tiny bedrooms and probably should have waited until Jan/Feb to list instead of December.

Disagree. While 8th & H is uniquely bad, there's also often tons of people at the corner of 8th & K. The house near K Street, in particular, is problematic because there is a bus stop right in front of it. And the house further north suffers from being near Florida Avenue. It's just not a super pleasant strip of residential homes because there are always so many people around. And it's not like living near a strip of restaurants or something. It's just random strangers, all the time. It's a weird mix because if it was a commercial strip, it would be fine (because all the homes would be above street level, in apartments, and because people would know going in that it was a busy area with lots of street traffic). But it's entirely residential, without a single business on the street. It just winds up feeling transient and unpleasant.

This house is across the street from one of those listed and sold quickly and above the listing price https://www.redfin.com/DC/Washington/729-K-St-NE-20002/home/9901021

Yes, that's a 4 bedroom, 3.5 bath, renovated row house with a big yard (i.e. large street buffer) that sold for just over 900k. Of course it sold quickly, as that's impossible to come by in this area. Move that house south of H, or even onto another stretch of K or I street, and it would have gone for over a million.

There's an 8th street discount, at least for the stretch between H and Florida.

Like this one, a block away. Also a 4/3.5 on a corner lot with a decent sized yard. Nicer upgrades but less outdoor space and it's a narrower, smaller home. It went for just under 1.2m.

Yes, I agree there's a discount for being on busy roads, but I maintain the houses on 8th would/will sell if they were more strategically listed. Here's another house (slightly larger, but literally a few doors down from one of them) that sold quickly and above list price. https://www.redfin.com/DC/Washington/905-8th-St-NE-20002/home/9902330

[Anonymous]

This is a little over the usual price range for this thread, but:

4BR/3BA, 1992 sqft, $1,100,000:
https://www.redfin.com/DC/Washington/1717-A-St-SE-20003/home/9921374

I'm not sure if this is a flip or if the previous sellers decided to do a reno and relist. It was listed in April last year at $750,000, had several price changes, then the listing was eventually removed in June at $725,000—but it doesn't show a sale.

It looks fairly nice now, and that's a pretty spacious looking back yard (for a rowhome), but $1.1 million seems a tad aggressive to me for something that far east. I've pretty sure I've seen houses in the Capitol Hill Historic District with the same amount of space list at about the same price.

What do you all think?

[Anonymous]

Anonymous wrote:This is a little over the usual price range for this thread, but:

4BR/3BA, 1992 sqft, $1,100,000:
https://www.redfin.com/DC/Washington/1717-A-St-SE-20003/home/9921374

I'm not sure if this is a flip or if the previous sellers decided to do a reno and relist. It was listed in April last year at $750,000, had several price changes, then the listing was eventually removed in June at $725,000—but it doesn't show a sale.

It looks fairly nice now, and that's a pretty spacious looking back yard (for a rowhome), but $1.1 million seems a tad aggressive to me for something that far east. I've pretty sure I've seen houses in the Capitol Hill Historic District with the same amount of space list at about the same price.

What do you all think?

I think the price is reasonable. It’s a very pretty house four blocks from Lincoln Park, zoned for an elementary school people like. If that were my budget in this neighborhood, I’d seriously consider it!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think both 8th Street houses are far enough from the loitering at 8th & H. The first house was insane to list so high initially. The 2nd house has really tiny bedrooms and probably should have waited until Jan/Feb to list instead of December.

Disagree. While 8th & H is uniquely bad, there's also often tons of people at the corner of 8th & K. The house near K Street, in particular, is problematic because there is a bus stop right in front of it. And the house further north suffers from being near Florida Avenue. It's just not a super pleasant strip of residential homes because there are always so many people around. And it's not like living near a strip of restaurants or something. It's just random strangers, all the time. It's a weird mix because if it was a commercial strip, it would be fine (because all the homes would be above street level, in apartments, and because people would know going in that it was a busy area with lots of street traffic). But it's entirely residential, without a single business on the street. It just winds up feeling transient and unpleasant.

This house is across the street from one of those listed and sold quickly and above the listing price https://www.redfin.com/DC/Washington/729-K-St-NE-20002/home/9901021

Yes, that's a 4 bedroom, 3.5 bath, renovated row house with a big yard (i.e. large street buffer) that sold for just over 900k. Of course it sold quickly, as that's impossible to come by in this area. Move that house south of H, or even onto another stretch of K or I street, and it would have gone for over a million.

There's an 8th street discount, at least for the stretch between H and Florida.

Like this one, a block away. Also a 4/3.5 on a corner lot with a decent sized yard. Nicer upgrades but less outdoor space and it's a narrower, smaller home. It went for just under 1.2m.

Yes, I agree there's a discount for being on busy roads, but I maintain the houses on 8th would/will sell if they were more strategically listed. Here's another house (slightly larger, but literally a few doors down from one of them) that sold quickly and above list price. https://www.redfin.com/DC/Washington/905-8th-St-NE-20002/home/9902330

I don't think we disagree -- I agree that the problem with many of these houses on 8th is that they price them too high, looking at nearby comps that don't have the same issues with traffic and noise. And yes, always harder to sell in the winter time. But when these houses sit and sit for months, when homes on nearby streets go so quickly, it's clear that there is something unique about that area. And as a neighbor, I think the unique thing is the presence of loud buses and bus patrons all along the corridor at all hours of the day. It makes it very hard to sell a house.

[Anonymous]

This is a nice-looking flip for $789k on the same block as Whole Foods. 2br/2ba, cute back patio and little garden in front. Monthly payment for the whole house would be the same as rent for the shoebox apartments behind it.

https://www.redfin.com/DC/Washington/831-6th-St-NE-20002/home/9898430

[Anonymous]

Anonymous wrote:This is a nice-looking flip for $789k on the same block as Whole Foods. 2br/2ba, cute back patio and little garden in front. Monthly payment for the whole house would be the same as rent for the shoebox apartments behind it.

https://www.redfin.com/DC/Washington/831-6th-St-NE-20002/home/9898430

You forgot the best part: it's another Tom Faison listing with a wacky description:

Get the thrill consumers feel when Amazon delivers. Not the depression when scissors reveal a deception that the box in the box was used and returned. Don't get burned. You can tell by the tape, worry on your face, will it work, are pieces in place, who selected, why rejected? THIS IS NOT THAT. Factory packaging by Bateman Builders, skillful precision, fearless engineering, insisting on perfection, not an inch missed. Blemishless finish on a life-minded design, a smiling domicile in an urban fantasy, where and what you want to be, so smart, add to cart, break your landlord’s heart.

Bless his heart.

Anyway, I usually think "nice-looking flip" is an oxymoron, but this one isn't bad. Kind of small, but the price seems about right for a condo alternative.

[Anonymous]

Anonymous wrote:This one seems more like a tract townhouse built in Herndon in the 1990s than a Hill-adjacent rowhouse.
https://www.redfin.com/DC/Washington/718-10th-St-NE-20002/home/9902446

Partially renovated 2/1. Bold move to use the backsplash tile throughout all of the kitchen, but I kind of like it. Might be too close to DC jail for comfort.
https://www.redfin.com/DC/Washington/1609-Massachusetts-Ave-SE-20003/home/9920356

Non-descript renovation but good price for a 3/1 halfway between Lincoln Park and RFK Stadium.
https://www.redfin.com/DC/Washington/1616-A-St-NE-20002/home/9919809

Modern townhouse-style condo. Good option if you need 3/3 for $700s.
https://www.redfin.com/DC/Washington/409-17th-St-NE-20002/unit-A/home/103793174

Fully renovated near Potomac Ave and Congressional Cemetery.
https://www.redfin.com/DC/Washington/1502-E-St-SE-20003/home/9919157

Cute little alley house with the nonsensical Faison listing touch.
https://www.redfin.com/DC/Washington/1-Windy-Ct-20003/home/9909153

All of these are now pending or under contract except the first two.

[Anonymous]

"Remodeled." I don't love this block, but it is close to Metro and the location will be much more attractive when all of the Central Armature construction is complete. I think this is a tricky one to price as an ugly house with upgrade potential...could go for $850k, could sit and finally go for around $600k. Listed at $710k for 2br/1.5ba.

https://www.redfin.com/DC/Washington/1119-3rd-St-NE-20002/home/9892332

[Anonymous]

Anonymous wrote:"Remodeled." I don't love this block, but it is close to Metro and the location will be much more attractive when all of the Central Armature construction is complete. I think this is a tricky one to price as an ugly house with upgrade potential...could go for $850k, could sit and finally go for around $600k. Listed at $710k for 2br/1.5ba.

https://www.redfin.com/DC/Washington/1119-3rd-St-NE-20002/home/9892332

I actually thought this looked kind of nice from the outside with the unpainted brick and the little garden areas. Then I got to the interior photos. Yech. I hope it's not a recent remodel, because if it is, someone got robbed. Or they went to Home Depot and asked for the cheapest model of everything. But I'm guessing rental, indifferently "updated." And that kitchen—I guess "open kitchen" is one way to put it. I'd call it a "studio apartment kitchen. For $710,000 I'd want a dishwasher. And "In unit washer & dryer!", like that's not something you expect in a house. It's just not attractive enough as a condo alternative, IMO.

My guess is that this sits for a bit and eventually goes in the mid to upper $600s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This one SHOULD FLY OFF THE HANDLE:

https://www.zillow.com/homedetails/402-G-St-NE-Washington-DC-20002/415407_zpid/

This one is still on the market, with an open house set for this weekend. It's only been 9 days, but hot houses were selling by the first weekend not that long ago. Maybe this house isn't as aggressively priced as some think, or maybe the market is cooling down. Or maybe everyone was too busy watching election drama to look at houses last week. I wonder if we'll see a price adjustment if it doesn't get any offers this weekend.

Chuckling at the bolded. If memory serves this is the same house that several DCUM posters talked up (especially in comparison to the one two blocks East that is now under contract). I guess the agent's guerilla marketing campaign wasn't that successful, huh?

Almost two weeks later, it’s still on the market. The sellers seem to be trying a strategy of holding an opening house every weekend instead of dropping the price.

Yup, just poorly priced. Once you are over 850-900, people are going to be underwhelmed by that main floor. It looks tight, the kitchen is updated but not beautiful, the entry is particularly sad... I guarantee that nearly everyone who has walked through that place has muttered "This is going for nearly a million dollars?" to their spouse or realtor.

Absolutely nothing wrong with the house. Just not a 919k house, regardless of location.

This finally went pending late last year and closed yesterday for $882,500.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This one seems more like a tract townhouse built in Herndon in the 1990s than a Hill-adjacent rowhouse.
https://www.redfin.com/DC/Washington/718-10th-St-NE-20002/home/9902446

Partially renovated 2/1. Bold move to use the backsplash tile throughout all of the kitchen, but I kind of like it. Might be too close to DC jail for comfort.
https://www.redfin.com/DC/Washington/1609-Massachusetts-Ave-SE-20003/home/9920356

Non-descript renovation but good price for a 3/1 halfway between Lincoln Park and RFK Stadium.
https://www.redfin.com/DC/Washington/1616-A-St-NE-20002/home/9919809

Modern townhouse-style condo. Good option if you need 3/3 for $700s.
https://www.redfin.com/DC/Washington/409-17th-St-NE-20002/unit-A/home/103793174

Fully renovated near Potomac Ave and Congressional Cemetery.
https://www.redfin.com/DC/Washington/1502-E-St-SE-20003/home/9919157

Cute little alley house with the nonsensical Faison listing touch.
https://www.redfin.com/DC/Washington/1-Windy-Ct-20003/home/9909153

All of these are now pending or under contract except the first two.

I kind of love the 15th & Mass tiny one! Great potential. Looks like it’s in solid shape.

[Anonymous]

So how well do we think the tiny Hill houses will appreciate?

[Anonymous]

Anonymous wrote:So how well do we think the tiny Hill houses will appreciate?

Very location dependent. The tiny house at 15th and Mass is not in a great location now, but when they finally do something with RFK, it could get better (will be interesting to see what happens with the jail).

When we were house hunting, we looked at several 2/1 houses in SE, and they all had great potential. And they’ve definitely appreciated from when we were looking— now selling for close or over 700k through they were mostly under 500k when we were looking (may have recent upgrades now though, so that’s not all profit).

But they were all very close to the freeway, which I think puts a ceiling on those prices. It’s hard enough to imagine a 750 sq ft house going for 850k, but within a block of the freeway? Nope.

I could be wrong though. I’ve been shocked many times a bout housing appreciation in this area.