Prince Of Petworth » GDoN Revisited by Hipchickindc

GDoN Revisited by Hipchickindc

In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. Unless specifically noted, neither she nor the company that she is affiliated with represented any of the parties or were directly involved in the transaction reported below. Unless otherwise noted, the source of information is Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system. Information is deemed reliable but not guaranteed.

Featured Property: 1838 Monroe St NW

Original List Price: $599,000.

List Price at Contract: $599,000.

List Date: 11/13/2009

Days on Market: 6

Settled Sales Price: $659,000.

Settlement Date: 12/22/2009

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional with a $326,310. down payment

Original GDoN Post is: here.

Recent Listing is: here.

Good Deal or Not (GDoN) commenters were quite optimistic about this property. There was some discussion regarding, um, some safety matters on the block, but one anonymous reader went as far as to say, “I think the Hipchick follow up on this one will show it goes for 25k over asking.” It actually ended up selling a hefty $60,000. above the list price.

Entering a new decade has prompted me to review real estate numbers over the past ten years for specific neighborhoods. I’m seeing some interesting contrasts. Not all neighborhoods in DC have responded the same to the erratic changes in the marketplace. If this information is of interest, I will include it in future posts for other neighborhoods. See below for a picture of the real estate activity in Mount Pleasant. Note that this set of data focuses on single family houses, and excludes condos. Data after the jump.

Year # Units Sold Average NET High NET Average Net Price/ Average Days on Market

Sales Price Sales Price List Price=%

2009 52 $671,232. $995,000. 97.83% 40

2008 68 $696,987. $1,482,501. 92.86% 46

2007 76 $747,450. $1,150,000. 100.37% 33

2006 88 $732,470. $1,635,000. 99.17% 34

2005 98 $775,910. $1,367,644. 103.38% 16

2004 92 $661,525. $1,164,100. 103.52% 18

2003 84 $544,946 $903,000. 101.94% 21

2002 120 $506,376. $875,000. 101.23% 21

2001 98 $498,945. $7,000,000. 102.16% 33

Recall that 9/11 disrupted No, not a typo
the real estate market that year

2000 134 $345,266. $800,000. 100.65% 23

1999 122 $285,136. $503,000. 98.64% 26

Category: GDoN revisited, Mt. Pleasant, Real Estate

By: Prince Of Petworth | 08 January 2010 11:00 AM | 16 Comments

Derek Riggs

Definitely not a good deal. Someone simply overspent on it. The crime on that block is completely out of control. Murderous bloodshed and gunshots nearly every night, and crack whores on the corner of 18th and Monroe. No thanks.

January 8, 2010 at 11:17 am
- abuelo jack
  
  What nonsense . . . we helped our cousin, a single mother, buy a house on that block in 1998, and her daughter, now 12 years old, grew up there. There was never, ever any safety problem. Small-scale drug dealing, sure. That’s hardly exceptional, anywhere east of Rock Creek Park. Exactly two gunshot incidents in ten-plus years. No “crack whores” — none, that’s completely bogus. I live three blocks from there, have been here since 1974, and I know when this was a tough neighborhood. Today, it’s not. I never had to worry about my precious little girl growing up on that block. Never.
  
  January 10, 2010 at 9:31 am
Anonymous

Derek Riggs- are you being serious?

January 8, 2010 at 11:21 am
Jamie

@Derek: Yep. In 1990.

January 8, 2010 at 11:21 am
Anonymous

It was a lot worse than Derik describes back in 1990. That neighborhood was completely lawless back then. You might wander by and spot a dead body lying in the middle of the street that had been there for days. It was the wild, wild west back then.

January 8, 2010 at 11:25 am
- Neener
  
  you all think you’re funny, but given that the residents back then were majority African-American you’re really a bunch of Lou Dobbs and Rush Limbaughs.
  
  January 8, 2010 at 4:49 pm
  - Anonymous
    
    Translation of what Neener just said: “OH MY GOD YOU’RE ALL RACISTS! OH NOOOOOO! RUN!!!!!1!!”
    
    January 9, 2010 at 9:55 am
  - anonymous
    
    Why does everything have to do with race with you? Most things, events, etc., do not, you know.
    
    January 10, 2010 at 2:09 pm
    - Neener
      
      when do I ever post anything about race?
      
      January 15, 2010 at 4:18 pm
roman santillan

Petworth Interim Library Opens Monday, January 11, 2010

The Petworth Library is closed from December 21 through January 10 in preparation for the move to the interim. The interim library opens Monday, January 11.
The permanent building will undergo a major renovation in the next year or so; however, full library services will be provided at the interim. The interim is located on the parking lot of Petworth Library and has the same address (4200 Kansas Ave. N.W., 20011) as the permanent building. The new phone number is 202-243-1188.
The Petworth Library is closed from December 21 through January 10 in preparation for the move to the interim. The interim library opens Monday, January 11.
The permanent building will undergo a major renovation in the next year or so; however, full library services will be provided at the interim. The interim is located on the parking lot of Petworth Library and has the same address (4200 Kansas Ave. N.W., 20011) as the permanent building. The new phone number is 202-243-1188.
Materials may be returned to the Petworth book drop, located next to the modular building in the parking lot. (You may also return materials to any other DC Public Library book drop.) Between now and January 10, holds for Petworth patrons may be picked up at Watha T. Daniel Library

4200 Kansas Ave. N.W.
Washington, DC 20001
Phone: 202-243-1188

Monday 1:00 pm – 9:00 pm
Tuesday 9:30 am – 5:30 pm
Wednesday 1:00 pm – 9:00 pm
Thursday 9:30 am – 5:30 pm
Friday 9:30 am – 5:30 pm
Saturday 9:30 am – 5:30 pm
Sunday Closed

January 8, 2010 at 11:32 am
Jamie

Yeah, I lived there back then. Nobody ever walked out their front doors because there was a good chance that a C.H.U.D. would grab your legs and pull you into the sewer if you walked too close to a manhole. Instead, we relied on helicopter drops for vital supplies which would be distributed weekly by armored cars.

Of course, chances are you’d be hit by stray gunfire before you even got close to a manhole in the first place, or alternatively, stung by a super virulent malaria-carrying mosquito. so the actual number of C.H.U.D. victims wasn’t that high.

January 8, 2010 at 11:34 am
Jamie

@Roman:

Thanks for sharing.

Why again did you post that on the comment thread for a this particular post?

January 8, 2010 at 11:36 am
dcdude

Somebody got a pretty good bargain, IMHO.

January 8, 2010 at 11:37 am
Please...

…get rid of that fugly chain link fence!

January 8, 2010 at 3:18 pm
hipchickindc

Oh dear. We’re having some formatting issues with the data. I’m going to set it up so I can link to the table I made. I’d like to do a series of 10 year data on different neighborhoods.

January 8, 2010 at 3:49 pm
Eli

I think that’s a good idea, hipchick. I’m having trouble reading the data as it is.

January 9, 2010 at 7:23 am