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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How long until we start seeing $1M asking prices in Trinidad?  This one is almost there:

3BR/3.5BA, 2,315sf, $968,000:
https://www.redfin.com/DC/Washington/1504-Montello-Ave-NE-20002/home/10095264

I get that Trinidad isn’t as bad anymore as people think, and that a nice, large house in Trinidad would probably be worth that in this market.  But this is not that house.[/quote]

It's actually already happened, over a year ago. This house: https://www.redfin.com/DC/Washington/1241-Morse-St-NE-20002/home/10096981

Hard to tell from those photos, but there is an accessory dwelling on the property and that's what pushed it over the 1m mark. Also, these photos look like they were taken before the property was finished because I saw it right before it sold and it looked more done -- it's a really nice renovation. I think it might have sold pre-list, I can't remember. I met the developer and when he told me what he was doing and what he planned to list at, I had to scrape my jaw off the ground. We have lived in Trinidad for about 10 years and I really couldn't believe it. But there it is.

So now when I see these renovated row homes going for around 900k, I am less surprised than I was back then. People have gotten priced out of Capitol Hill and H Street, and Trinidad is an obvious alternative. The funny thing is that a lot of properties in Trinidad are much more desirable from a size/layout standpoint than what I see going for over a million on Capitol Hill these days. Lots in Trinidad are known for being wider and deeper than a lot of nearby neighborhoods -- nice wide federalist-style homes with a lot big enough for two parking spots, a deck, and a yard. That's almost impossible to find on the Hill or along H street. Obviously people gravitate to the Hill for other reasons (schools, transit, proximity to certain amenities) and I know Trinidad still has some rougher spots. Though no rougher than a lot of places in Hill East, for instance.

I think 1m row homes are inevitable here. And I have mixed feelings about it, though obviously there are some benefits for me as a longtime owner here.[/quote]

One just listed for $995k:

https://www.redfin.com/DC/Washington/1119-Orren-St-NE-20002/home/10305072

I realize that crime in Trinidad is probably overstated and that property crime is far more prevalent than violent crime, but according to the DC crime map, there have been three assaults w/a dangerous weapon within like 2-3 blocks of this address since January. That's at least a little concerning when you're considering a $1 million house.[/quote]

Meh, look at the victims and I guarantee you'll see zero million dollar house buying yuppies. In those incidents and any others.

Violent crime is an issue in DC because anyone hurting/killing anyone is a problem, but when you're specifically talking about the safety of million dollar homebuyers it's practically a non-issue. Like 99% of violent crime in DC is gangbangers and wannabe gangbangers beefing with each other. Don't cheat any C-Lo games or steal any hood rats' girls and you'll be fine.  [/quote]

As someone who bought a million-dollar house in a comparable DC neighborhood and then was violently assaulted and robbed in the middle of the day two blocks from that house, I'm not sure your claim is true.

And I'm not sure people in the market for $1 million houses want to live near such people. It limits the market. Some people just will not want to deal with that.[/quote]

Sorry you had the bad luck to be in that 1%. Your single point of data is meaningless though when compared to the statistics as a whole.[/quote]

Care to share those "statistics"?[/quote]

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