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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Here's an itty bitty new one, inbound for Maury and listed at $550.

https://www.redfin.com/DC/Washington/1514-Constitution-Ave-NE-20002/home/9918366[/quote]

Ok, curious what folks think about the difference between the house above and this one, which has been sitting on the market since July (originally listed at 750k, dropped to 697k in late August):

https://www.redfin.com/DC/Washington/706-4th-St-SE-20003/home/9896256

4th street is bigger at 900 sq feet, versus under 700 sq feet on Constitution Avenue. But they are both so small (and have fairly similar layouts in terms of livability) that I don't feel that can account for the price difference. Is it just that 4th Street is so much closer in? I know Brent is considered a very in demand public school, but as others have noted, these are pretty small houses for families. And it sounds like a lot of people like Maury as well, so could that be a wash?

Also, I should note this block of 4th Street is right next to the freeway. So while this part of Capital Hill is "nicer" (read: richer) in general, the exact location of this house has a major drawback.

Thoughts? We are looking at starter homes and really struggling with what sometimes seems to be arbitrary pricing. We know we're going to be compromising but kind of confused about what that actually means in this market right now. I am nervous about putting down so much money on a house like 4th Street even though it is within our budget, when I see a place like Constitution Avenue come on the market for almost 200k less.[/quote]

Some realtors are known to price houses low to start a bidding war, so there's that.

I think the 4th st SE house is overpriced, and the 15th and Constitution NE house will probably go a little above listing.  15th st NE also has an extra half bath and outdoor space (which I assume 4th st SE does not have).

The real difference though is the neighborhoods.  4th st SE is closer to a lot more amenities - Eastern Market metro instead of Stadium Armory; ball park; all of Navy Yard; etc etc.  And the schools are basically equivalent.

At the end of the day, I think 4th st SE is the more expensive house than 15th st NE, but hard to say exactly how much.  I don't think it's 150k - maybe 75 or 50 k.  [/quote]

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