1623 Monroe St NW

Featured Properties: 1623 Monroe St NW and 1612 Newton St NW

Original List Price: $499,000. and $529,000.

List Price at Contract: $499,000. and $499,000.

List Date: 10/09/2009 and 8/26/2009

Days on Market: 4 and 51

Settled Sales Price: $495,000. and $476,000.

Settlement Date: 11/30/2009 and 10/30/2009

Seller Subsidy: $0. in both cases

Bank Owned?: No and No

Type Of Financing: Conventional conforming ($417k or less financed) in both cases

Original GDoN Post is: here for 1623 Monroe St NW and here for 1612 Newton St NW.

Recent Listings are: here.

I know, I did Mount Pleasant last week for Good Deal or Not Revisited (GDoN-R), but there were some issues with the formatting for the ten years of data I compiled, so I thought I’d try again. These two houses were one block from each other, and both on the smallish side, neither with central air, and both ultimately priced the same. Comments on both original GDoN posts complained about the size of both properties and debated the desirability of the location.

What I tried to post last week was a ten year overview of sales data for houses (did not include condos) in Mount Pleasant. The data is not surprising but I think it shows an interesting overall perspective. We see a peak in average sales price in 2005, and as recently as 2007, the average sale was above list price. In 2008, Buyers had a little bit more negotiating room as the average property sold approximately 7% below list price. 2009 Buyers didn’t get to negotiate as much, but it looks like Sellers became somewhat more accommodating in their pricing, since the average sale price was down more than $20,000. Click here to see the report.

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This home is located at 1807 Ingelside Terrace, NW:

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The flier says:

“EXQUISITE TUDOR, BACKING UP TO RCK CRK PK, MOVE-IN COND, NU WNDWS, NU KIT, NU MARBLE HALL BA (2ND FLR), REFIN FLRS, STEP-DOWN LIV RM W/ FRPLC, ORIG WROUGHT-IRON RAIL BET LR & STEP-UP DR. MBR/BA UP + 2 OTHER BRS. FINISHED LOWER LVL W/ FRPLC & 3RD BA, , 1 CAR BLT-IN GAR. YOU WILL LOVE THE WARMTH AND FEEL OF THIS HOME.”

You can find more info here and a virtual tour here.

Ingelside Terrace is one of my favorite streets in Mt. Pleasant so I was excited to see one of these tudors for sale. What do you think of the virtual tour? I was pretty blown away. Does $699,000 sound reasonable?

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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. Read Full Post

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This house is located at 1720 Newton Street, NW:

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The flier says:

“Striking quality renov of sunny 1904 Vict TH into 21st century beauty! Soaring ceilings, big low-e wood windows, exposed nat brick, gorg oak flrs & stairs, huge granite/SS chef’s kitchen, Pakistani marble baths. All new from studs out. More closets, kitchen counter & cabinet space than most houses! Elegant marble hallway leads to parking (included). Best of Mt Pleasant!”

You can find more info on Unit A here and more info on Unit B here and a virtual tour on Unit A here and a virtual tour on Unit B here.

The reader writes:

“Just wanted to let you know that there’s 2 units for sale in a rowhouse on Newton St NW between 18th St. and Mt. Pleasant Rd, right across from Bancroft Elementary. I used to live a couple doors down and saw construction going on for a year….totally gutted the building.”

I am a sucker for exposed brick but these do look pretty nice to me. I’m thinking they might be priced a bit on the high side since they are both only 2 bedrooms. What do you guys think of the renovation? Unit A is going for $625,000 and Unit B is going for $649,000. Sound reasonable?

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This home is located at 1838 Monroe Street, NW:

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The flier says:

“Historic integrity joins tasteful updates in this 1915 classic row on quiet strt. 3BR, 1.5BA (. 5Ba on main flr), covered fr prch, inlaid prqt flrs, wd brng frpl, pkt drs, updated kit w/ granite cntrs/new gas range & d/w, brkfst rm at rear, new bath w/ dbl vanity. Reces lts, 2nd flr balc/deck, full bsmnt frnt & rear entrs, fenced rear garden. Sold “as is” but w/ HMS Warranty”

You can find more info here and a virtual tour here.

I think the folks who like old school details are gonna love this one. Like a few other recent GDoN posts this one also has some sweet floors. One of the few negatives I can see folks bringing up is the fact that it only has 1.5 bathrooms. So do you think $599,000 sounds reasonable?

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IMG_0531, originally uploaded by Prince of Petworth.

This home located on Monroe Street, NW at the corner of Brown is one of my favorites in the city. It’s been getting a facelift and looks even better now.

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This home is located at 1937 Park Road, NW:

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The flier says:

“Beautiful 1912 “extra-width, ” four-level, 4/5 bedroom and two bath rowhouse on the quiet side of Park Road (as it winds down into Rock Creek Park). An inviting front porch, plus warm, original wood floors, mouldings, trim, decorative fireplaces, and staircases combine perfectly with an updated stainless kitchen, two-zone HVAC, a multi-level deck, and off-street parking.”

More info found here and a virtual tour found here.

So basically I find these homes by walking around town and if they have a for sale sign in front, I take a photo. Sadly/happily, some are already under contract by the time I get to posting them. But I think a few are still worth looking at. This one in particular has some of the greatest wood details I’ve seen in a while. The floors, fireplace and trims are super fresh. There is also a pretty interesting back yard. And it’s Friday – so enjoy! Asking price was $849,000 for this 5 bed/2 bath. How much value do you think the “extra-width” adds?

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This home/condo is located at 3350 17th Street, NW:

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The flier says:

“Level 2 BR, 2 bath unit. Has access directly to parking and garages. Parking is available for purchase. Fabulous newly created condo with granite counters and flooded with light. Quiet street and affordable pricing.”

More info and photos found here.

I always enjoy finding new construction/buildings that we’ve previously judged from the outside. What do you think of the look from the inside? This particularly unit is a 2 bed/2 bath going for $448,000. Sound reasonable?

It might be worth noting that many of the other units in this building are already under contract.

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This home is located at 1623 Monroe Street, NW:

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The flier says:

“Charming 1930s townhouse, handsomely renovated and updated. Granite Kit open to DR, large LR, 2 spacious BR, lower level family room/BR with travertine BA, front porch, rear deck, PARKING, oak floors, 4 blocks to Metro, walk to shops, restaurants, Rock Creek Park, etc. Fantastic condo alternative!”

More info and photos found here.

Here’s another small(ish) house that looks nicely renovated. I’m curious what you guys think about the asking price and why it went under contract so fast. The asking price for this 2 bed/2 bath was going for $499,000. Is that a phenomenal deal?

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This home is located at 1612 Newton Street, NW:
W

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The flier says:

“Charming, sunny 1930s TH in Historic Mt Pleasant, 3 blocks to Metro, shops, restaurants, theater & Rock Creek Park. Handsomely renovated to provide 3 finished levels, 2 lrg BR 1BA up, finished lower level den, family room and 2nd BA, corian/stainless Kit, spacious rear deck, front porch, PARKING.”

More info and photos found here.

A reader writes:

“Wondering if this is a GDoN….the house first listed at $529,000 and the price has now dropped to $499,000. GDoN? It is at 1612 Newton St NW, just off 16th St.”

What do you think of the house itself? Does $499,000 sound reasonable for a 2 bed/2 bath?

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This condo is located at 3155 Mt. Pleasant Street, NW:

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The flier says:

“Lovely renovated studio at The Mount Pleasant with 14′ vaulted ceilings & stunning sunset & National Cathedral views. Charming LR with fixed stairs to sleeping LOFT, granite kitchen w/ breakfast bar, large renovated bath, loads of closets, exposed brick walls, wood floors, W/ D combo in unit, low fee (includes WiFi), pets welcome!”

More info and photos found here.

Well this is a bit of a contrast from yesterday’s house porn but I think this is one cool looking studio. In this case I think the Loft makes a big difference as you can put your bed up there. And as I’ve said before, I dig the exposed brick. What do you guys think? Does $209,000 sound reasonable?

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“Dear PoP,

Sold for $310,000, quick reno and back on for $699,000!

http://www.redfin.com/DC/Washington/1816-Irving-St-NW-20010/home/10006978

http://www.princeofpetworth.com/2009/07/gdon-revisited-by-hipchickindc-15/

http://www.princeofpetworth.com/2008/11/good-deal-or-not-fixer-upper-edition/”
And it’s already under contract! What do you think of the renovation?

And in other real estate news a reader writes that Shiloh Baptist Church has finally put two of its properties up for sale:

“Dear PoP,

Shiloh posted two of their properties for sale. Shiloh is asking 450K for each of the vacant and dilapidated shells. Good deal or no? LOL. They probably won

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia and Virginia, 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: 1816 Irving St NW

Original List Price: $499,999.

List Price at Contract: $365,000.

List Date: 10/22/2008

Days on Market: 155

Settled Sales Price: $310,000.

Settlement Date:  07/06/2009

Seller Subsidy:  $9,300.

Bank Owned?: No. 

Type Of Financing: Cash

Listing History: No sales history info on MRIS, so was possibly an estate.  Tax records show a transfer with no price in April 2009, which also suggests that it was part of an estate.

Original GDoN Post is: Here.

Recent Listing is: Here.  To see pics, click the arrows on the main picture.

Despite the “needs some work” condition of this property, commenters on the original Good Deal or Not (GDoN) post for this property thought it was an okay deal for the neighborhood when it was listed at $499,999. One person noted that, “this is the kind of listing that has me worried about home values. when was the last time a house in any condition sold for less than 500k in mount pleasant? I certainly haven’t seen anything this low in mount pleasant since I have been paying attention to listings.”

Given the comments and the number of my own buyer clients who inquired about the house, it surprises me that it stayed on the market for as long as it did. As some of the GDoN posters mentioned, it is small and needed a lot of work. Even being small and in crappy condition, at a net a tad over $300,000., I’d say the buyer got a pretty good deal. Just to reassure everybody that the values in Mount Pleasant are not totally taking a nose dive, here are the two and three bedroom sold comps since the beginning of 2009. You’ll see that the next lowest sold price to this sale is greater by more than $150,000.

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This home is located at 3416 Brown Street, NW:

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The flier says:

“NEW PRICE!! INCREDIBLE VALUE. This 2120 sq ft home has A CONDO FEE of 100/MO, a gourmet kitchen w/ granite and SS appliances, custom lighting, paint by interior designer, surround sound in Living RM and Master BR, Full Bath Main lvl, Huge Storage Unit Main lvl, Master BR w/ 2 walkin closets, Master BA w/ SPA shower, 2nd Master, 2 parking spaces, Huge storage unit.”

More info, photos and a virtual tour found here.

I’ve always been a big fan of Brown Street in Mt. Pleasant. There is one section that has new(ish) rowhouses. It looks like they were built in 2004. I’m glad to see what they look like on the inside. How do you think they came out? $729,950 sound reasonable?

Ed. Note: Unit A is also available for $699,000.

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This home is located at 1901 Park Road, NW:

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The flier says:

“Gorgeous Estate home majestically situated on 19th & Park Road. Walking distance to Rock Creek Pk & Nat’l Zoo. Home has been well maintained by single owner for over 50 yrs. Beautiful parquet & hardwood floors & all orig woodwork. Huge finished English style basement w/ full bath and sep laundry rm. End unit w/ lrg eat-in kitchen, sep DR. Ideally located 5 min from Connecticut Ave.”

More info, photos and a virtual tour found here.

I really like the dining room ceiling but it seems like some of the other rooms may benefit some updating. I know folks disagree about the difference between houses needing/requiring vs. benefiting from updating. Sure you can live quite well here but if you’re gonna drop $919,000 wouldn’t you want more updated rooms? Of course I too agree that keeping the historical details (and the bar in the basement) but this home looks a bit dated to me. What do you guys think $919,000 sound reasonable or should it be updated?

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