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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]These houses are a block from each other and similar in size. Both pre-renovated, but one requires a complete gut job while the other is livable as is.

$695k - https://www.redfin.com/DC/Washington/517-K-St-NE-20002/home/9896553

$750k - https://www.redfin.com/DC/Washington/413-K-St-NE-20002/home/9895023[/quote]

I'd expect them both to escalate off of multiple offers, but especially 413. That's going to look really appealing to a family with young kids even if they can't afford to renovate for a few years. I love that location, even with K being a busier street - close to H Street but without the worst of the noise and trash, close to Union Market, multiple grocery stores walking distance, school situation actually pretty great (J.O. Wilson is pretty good from what I've heard, and plenty of people in that neighborhood will also look at Two Rivers and CHML, both super close), and really, really easy to transit (metro, Marc, buses all extremely close). House is totally livable and has great bones, the patio is awesome. I kind of wish we could move here, actually![/quote]
Agreed.  517 will get gutted and flipped.  413 looks perfectly livable as it is (if you don't mind window AC).  It's not up to trend, and there are certainly projects I'd have on my list if I bought it (central AC would be the first priorty; a new kitchen and finishing the basement would be on the long-term wish list).  Only having 1BR will be a deal-breaker for some (OMG, no powder room!), but there's a lot to like about that house.  I suspect it will end up selling for around $900k.[/quote]

Agree all around though I'm thinking low 800s. I think the 1 BA thing will matter less in terms of getting interested buyers because of the price point and other advantages. It's a house people buy pretty much knowing they are going to do a kitchen renovation within a few years, so the powder room goes in then anyway, potentially another upstairs bath if you have the funds. If you are a couple who has plans for kids but not for a few years (which is where a lot of first time home buyers in this neighborhood are at mentally), this won't seem like a big deal. Not a huge deal for a couple to share one bathroom on their own and just deal with the minor inconvenience when guests are over for a few years.

I think the 1 BA thing is a much bigger deal for some of these houses that have been selling at or over 900k, but south of H and deeper in to the Hill. I'm always a little amazed people are willing to pay that much in those situations. Especially because unlike this house, a lot of them are narrower and it's going to be harder to put in 1.5 more bathrooms. But they've been selling anyway. Crazy.[/quote]

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