625k in "Hip Happening Hyattsville"? Overpriced?

[Anonymous]

Anonymous wrote:This house is at a busy-ish intersection (for historic Hyattsville anyway). The paint colors are very ... personal. But, the owners always host porch fest every year, so I've actually sat in this yard and listened to people jam out on the porch. I've seen glimpses of inside and it seems nice and not too rundown.

Now I definitely wouldn't want to buy this house. The current owners sound like a tough act to follow.

"Yeah, the old owners of that house used to host jams all the time. It was great. The new owners are...fine, I guess? No porch fests, though."

I couldn't handle that kind of pressure.

[Anonymous]

Don’t worry, at least in Mt Rainier the porch fest is always a bunch of houses (the audience walks around to them) and lots of sporadic porch music throughout the year. It’s not on one house.

[Anonymous]

Anonymous wrote:I can't tell from the photos if that would be a project house or not. Not having any pictures of the bathrooms or basement is a red flag, though. There's only one shot of the kitchen, too (I almost missed it), but from that shot it doesn't look bad. What I can see doesn't have quite the same old-house charm that the Nicholson house did, at least for me, and the key to getting top dollar for an old house is having so much character that people are willing to overlook the money pit potential. It's also right next to a bus stop on a busy-ish street.

I don't see this one getting a bidding war, personally.

I think the bad siding is taking away from the charm, but it could be restored.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This house is at a busy-ish intersection (for historic Hyattsville anyway). The paint colors are very ... personal. But, the owners always host porch fest every year, so I've actually sat in this yard and listened to people jam out on the porch. I've seen glimpses of inside and it seems nice and not too rundown.

Now I definitely wouldn't want to buy this house. The current owners sound like a tough act to follow.

"Yeah, the old owners of that house used to host jams all the time. It was great. The new owners are...fine, I guess? No porch fests, though."

I couldn't handle that kind of pressure.

Haha, I'm the PP who sat in the yard- there are a number of houses in the neighborhood that do this in addition to this one. I think 8-12 houses at least.

[Anonymous]

https://www.wjla.com/news/local/several-businesses-struck-by-gunfire-in-hyattsville

Hope this is an isolated accident…

[Anonymous]

Anonymous wrote:https://www.wjla.com/news/local/several-businesses-struck-by-gunfire-in-hyattsville

Hope this is an isolated accident…

Gun crime is up everywhere nationwide. This is very rare.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.wjla.com/news/local/several-businesses-struck-by-gunfire-in-hyattsville

Hope this is an isolated accident…

Gun crime is up everywhere nationwide. This is very rare.

Hyattsville has a good size police department and a county police district in town. Still much safer than u st

[Anonymous]

Oh, how scary for the people and families who were there! Thank god no one was hurt. In the video, it looks like the guy by the white car was standing around and then another car came by and shot at him?

That's terrible, but I bet it was a conflict that started somewhere else. This guy probably parked there because he thought it would be safe. It's outrageous, but I'm not sure it says much about Hyattsville.

[Anonymous]

Anonymous wrote:Oh, how scary for the people and families who were there! Thank god no one was hurt. In the video, it looks like the guy by the white car was standing around and then another car came by and shot at him?

That's terrible, but I bet it was a conflict that started somewhere else. This guy probably parked there because he thought it would be safe. It's outrageous, but I'm not sure it says much about Hyattsville.

Just picked three random cities in DC Area.

Chevy Chase: https://www.popville.com/2021/07/8am-gunshot-dc-chevy-chase/

Arlington: https://newsroom.arlingtonva.us/release/police-investigate-shots-fired-in-green-valley-neighborhood-2/

Silver Spring: https://www.localdvm.com/news/crime/one-dead-one-injured-in-shooting-at-silver-spring-apartment-complex/

[Anonymous]

Anonymous wrote:Good news is that the “suburbs” of Hyattsville (ie other small towns along the route 1 corridor) are still a little more affordable and off the same amenities as Hyattsville. See Brentwood, Edmonston, Riverdale.

Also, Chillum, MD. Cute little area, close in but not nearly as much crime as Mt. Ranier. Close to Takoma Park, Hyattsville, Brookland (nice restaurants in all). And you can get a lovely home for 400K.

[Anonymous]

Anonymous wrote:I think this is underpriced … wonder what it will go for?

https://www.redfin.com/MD/Hyattsville/5314-42nd-Ave-20781/home/10948315

I looked at it today. The bathrooms are fine, not massively out of date or anything. The kitchen has a small walk in pantry of to one side which also has the w/d, then off the dining room is another small room which could probably be a bedroom or office. Half bath is on the main floor. For a house of this vintage (and with a cellar with only an external entrance) this has a surprising amount of space. If I were listing this I would add more pics of the kitchen and bathroom, not sure why they didn’t.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Good news is that the “suburbs” of Hyattsville (ie other small towns along the route 1 corridor) are still a little more affordable and off the same amenities as Hyattsville. See Brentwood, Edmonston, Riverdale.

Also, Chillum, MD. Cute little area, close in but not nearly as much crime as Mt. Ranier. Close to Takoma Park, Hyattsville, Brookland (nice restaurants in all). And you can get a lovely home for 400K.

Chillum is not cute, I’m sorry. If there’s a crime differential, it’s about the commercial presence.

[Anonymous]

Doesn't matter who the realtor is, market always decide the price. Realtors are dime a dozen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP back again, looked at the Nicholson house someone posted upthread and it is gorgeous. Part of what is confusing me is there's this big house on 44th that had to do a 50k price cut before going under contract: https://www.zillow.com/homedetails/6010-44th-Ave-Hyattsville-MD-20781/37514899_zpid/

Granted, I don't love the kitchen layout, but it seems so much bigger than the one I originally posted, which is partially why I'm very curious to see what the 625k one ends up going for.

I'm the PP who posted the Nicholson house. It is bigger than the one in this thread, so I'm not sure how good of a comparison it is. But I think a lot of the size in Nicholson was in the number of rooms and in two of the upstairs bedrooms (and a large bath). The one in this thread doesn't look small to me, at least from the listing—I was actually surprised that it's only about 1500 sf. Plus, it seems like the basement could easily be converted into livable space. If the virtual tour measurement function is accurate, the ceiling is 7'6"; most of the unfinished basements I've seen are either a little too short to finish properly or have water issues that make finishing the basement a bad idea.

The one on 44th is so clearly a flip (and so utterly charmless, IMO) that I don't think it's a good comparison to 5303 41st.

I live one house down from this listing on 44th. I know they spent a significant amount of time doing the work and it came out very nicely! The nest part is that sale just drove the price of my house way up. I have almost the identical floor plan, but have an extra full bathroom. I paid under 500K for my house 3 years ago, and just had it appraised last year for my refinance and it was valued at $675K, and that was a year ago. I plan to make some minor updates (since it was completely remodeled when I bought it) and sell in the spring market. I hope to make a significant profit that I can use as a large down payment on something in the burns, since my work's telework polices are changing and there really os no need to be close to DC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP back again, looked at the Nicholson house someone posted upthread and it is gorgeous. Part of what is confusing me is there's this big house on 44th that had to do a 50k price cut before going under contract: https://www.zillow.com/homedetails/6010-44th-Ave-Hyattsville-MD-20781/37514899_zpid/

Granted, I don't love the kitchen layout, but it seems so much bigger than the one I originally posted, which is partially why I'm very curious to see what the 625k one ends up going for.

I'm the PP who posted the Nicholson house. It is bigger than the one in this thread, so I'm not sure how good of a comparison it is. But I think a lot of the size in Nicholson was in the number of rooms and in two of the upstairs bedrooms (and a large bath). The one in this thread doesn't look small to me, at least from the listing—I was actually surprised that it's only about 1500 sf. Plus, it seems like the basement could easily be converted into livable space. If the virtual tour measurement function is accurate, the ceiling is 7'6"; most of the unfinished basements I've seen are either a little too short to finish properly or have water issues that make finishing the basement a bad idea.

The one on 44th is so clearly a flip (and so utterly charmless, IMO) that I don't think it's a good comparison to 5303 41st.

I live one house down from this listing on 44th. I know they spent a significant amount of time doing the work and it came out very nicely! The nest part is that sale just drove the price of my house way up. I have almost the identical floor plan, but have an extra full bathroom. I paid under 500K for my house 3 years ago, and just had it appraised last year for my refinance and it was valued at $675K, and that was a year ago. I plan to make some minor updates (since it was completely remodeled when I bought it) and sell in the spring market. I hope to make a significant profit that I can use as a large down payment on something in the burns, since my work's telework polices are changing and there really os no need to be close to DC.

Well, tastes differ. But I do find it interesting that the house at the top of this thread and the Nicholson house sold for virtually the same price—around $785k—while the 44th street flip sold for $670k after a price drop. At the very least, that confirms that the 44th street flip wasn’t a good comparison for the other two houses. And I’m also taking it as a sign that renovations that preserve historical character create more value and demand than a boring gray-and-white open-floor plan flip. I may not be right about that, but I’ll gladly take evidence for it where I can.