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]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]

I don't think either of those houses is particularly nice, but at least you'll get to customize yourself instead of paying for a flipper's questionable choices. As you pointed out, the 4th St house is much more conveniently located. A hop, skip, and jump from the Capitol, Navy Yard, Eastern Market, Garfield Park, the Riverfront, multiple metro lines, etc. It also has a garden and an elevated ground floor, which is better for security and any risk of flooding. Most of all, though, the 4th St house is considerably larger than the one on Constitution. At that size, 230 sq. ft. is a SIGNIFICANT difference in terms of perceived and actual spaciousness. I think the dealbreaker for the 4th St house is that it only has a single bathroom. Most people want at least an additional powder room if not a full second bath. [/quote]

Ok, that's helpful. I'm not sure the proximity thing is a huge thing for us -- I might rather be a little deeper in the neighborhood anyway. I also really don't like the proximity of the highway. I think it counteracts the sound advantages you mention.

I should note that we have actually been inside that 4th Street house and I'm not convinced it's actually over 900 square feet. It feels really small. Definitely a lot small than our apartment which is  only 1000 square feet. but feels like a palace comparatively. I don't know if it's just the layout or if they are fudging a bit, but I was kind of shocked by how tight it felt. I'm curious to see if the Constitution Avenue house feels noticeably smaller.[/quote]

I was gonna say, the layout of the 4th st house seems exactly the same as 15th st ... also I think 4th st SE is in the historical district?  So you could expand 15th st NE with a pop-up or pop-back more easily.  [/quote]

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