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Good Deal or Not? Wed. House Porn Edition

DSCN4301

This home is located at 1745 U Street, NW. Ed. Note. Based on yesterday’s comments I have compromised with a small map.


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The flier says:

“FABULOUS newly constructed interior in gorgeous 4-LVL dormered Vict. Huge LEGAL 1BR rental. Epicenter of DUPONT-KALORAMA corridor. Beautiful HWFs, four OVERSIZED BRs (2 w/ baths ensuite), 3.5BAs main house. Chef’s kitchen for serious entertaining! PKG in rear! Fantastic value for modern design and fine workmanship!”

You can find more info and photos here.

I think you’ll like the photos. This is a much different style than some of the previous homes I’ve shown. I’m curious to know what you think of the photos and if you think it is remotely possible that this home will sell for $1,399,900?

Category: Uncategorized

By: | 12 November 2008 1:00 PM | 10 Comments

  • PetworthRes

    I’d say it’s at least 300-400K overpriced. Sure, it’s a complete renovation, but not really anything special. There are no old architectural details left in the house at all. And the “back yard” is just a slab of brick. It’s a large rowhouse and I’m sure you could get a nice rental income with the basement apartment, but if I could afford anywhere near that level of house porn, I wouldn’t buy it on U St. with all the noise and the buses. And I’d want fireplaces, original hardwood floors, a nice backyard, a roof deck. Even a nice vestibule.

  • Anonymous

    Does the master bedroom have only that one tiny window? It seems oddly shaped and with the bathroom at the front of the room (where all the windows are), it isn’t a good layout. They would have been better off making the entire 3rd floor a master suite. I think it’s priced too high.

  • Anonymous

    Looks like this one was posted by the King of Wishful Thinking. At the end of the day, it’s on a very busy street with a lot of car/bus/drunken pedestrian traffic, it isn’t a blow-your-hair-back renovation, doesn’t have exceptional outdoor space, and it is very much like 2 dozen other renovated rowhouses that you could get for far less in other neighborhoods. Allowing that location is everything, I’d still be shocked if this went for anywhere near its asking price.

  • I agree that there were some questionable calls with the layout, and I wish there was a roofdeck (although it looks like there is a door to an area that could have one), but I’m not sure how much that really affects the property value. But let’s consider that people break these rowhomes into multiple condo units because they are worth more that way (i.e., the rehabber can make more money selling multiple units than one complete building). If this one was broken into two units, I think the top 2 floor unit would go somewhere between 700-800 in this market (one at 1756 U closed for 785 in september), and the bottom 2 floor unit would go somewhere between 500-600. So a total range would be between 1.2 and 1.4. Because this is not broken up into 2 units, the price would have to be somewhere less. So with it listed at 1.4m, yes, it is priced too high. It will probably settle for something between 1.1 and 1.3, but 1.1 would be a good deal and 1.3 would be a little on the high side but still not necessarily a bad deal.

  • Anonymous

    isnt there a fire house on that block (or very close by) of U? No way id pay that much to be woken by up fire trucks.

  • Adams Morgan

    Firehouse is in the 1600 block of U, so yup, very close by. Also, give me a break, they list it as Dupont/Kalorama. It’s Dupont/Adams Morgan/U St., which is totally different than Kalorama. Also, love that they include a photo of WholeFoods….

  • RCR

    I know a guy a few doors down from that place that tried to sell a nearly identical house for $1.2 at the height of the boom, and it didn’t go. So I’d say no way. My girlfriend lives on that block, and yes, it is one of the noisiest blocks in the city. Buses, fire trucks, police cars, drunks migrating between Adams Morgan and U St. It’s like a parade happening every minute of the day.

  • Parkwood Person

    I think $million+ buyers want more for their money than a home depot rennovation. I would. If I had the money, I’d want my house to say, “I’m rich and classy!” and that house kind of… doesn’t.

    Petworth Res has a good point about the rental though- if someone wanted an investment property and planned to rent out both top and bottom, this would be a good one. The location would “sell” well to people who aren’t too familiar with the actual area, and the finishes look durable.

  • Petworthian

    I’m questioning why the property sold in March of this year for a measly $250K and then again in April for $540K. Something’s fishy. That house would never have sold for $250 unless it was condemned.

  • AC

    The Whole Foods is a 20-25 minute walk from there. Sorry, that’s false advertising. On the other hand, Yes! will be a short 10 minute walk (or a really quick and possibly worthwhile bus ride if you have a large load), and Harris Teeter is even less than that. So, the neighborhood has good grocery stores in walking distance. The fact that they choose to show a far-off Whole Foods tells either the agent lives in Clarendon, or they’re looking to sell to people who currently live at least as far away as Clarendon. For all the reasons mentioned above, this price is far above even an appropriate starting bargaining price. It’s for dopes, and there are probably more dopes from outside the area than in it.



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