Trinidad’s (Almost) $1 Million Home Finds a Buyer

by UrbanTurf Staff

image
1228 Florida Avenue NE

The highest priced home to be listed for sale in Trinidad has found a buyer. The six-bedroom house on Florida Avenue went under contract on Monday.

After initially hitting the market for $926,500 on January 31st, the listing’s price was reduced on Valentine’s Day to $898,400 and then found a buyer five days later.

The 3,000 square-foot home has six bedrooms, 4.5 bathrooms, a large yard and a two-car garage. The final sales price won’t be available until the sale closes, but we will be curious to see how close it came to the asking price.

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This article originally published at http://dc.urbanturf.com/articles/blog/trinidads_almost_1_million_home_finds_a_buyer/6680

18 Comments

  1. Andy said at 10:08 am on Wednesday February 20, 2013:

    Why don’t people want walls in their houses anymore?

  1. Randy said at 10:47 am on Wednesday February 20, 2013:

    Looks like a hotel lobby, why waste so much space for one big generic room, then make the kitchen so small?  Also on a busy street not near a metro.  Can you say speculation?

  1. Spectator said at 11:35 am on Wednesday February 20, 2013:

    At $299 per square foot, two car garages, large back yard, awesome front porch, and 4.5 bedroom. Seriously, who is complaining? It is a great deal.

    Who cares about its proximity to a metro or bus stop when you have two car garages?

    Why the hell do you need a wall in a Kitchen?
    You can’t complain that the kitchen is small when there is open space that consist kitchen, dining room and living room.

    All the new owner need to do is to get a big guarding dog, a camera in the front and in the back and bolted doors.

  1. Scott said at 11:42 am on Wednesday February 20, 2013:

    Wow- that’s a whole lot of house.  3,000 sq ft, 6 bedrooms & it looks great.  Nice flip -redfin shows it sold last year for $286K

  1. Trinidaddy said at 11:47 am on Wednesday February 20, 2013:

    FYI - this house has a carport, NOT a garage. Despite what the brochure says. It does have a roll up garage door but not an actual garage.
    Can’t wait to see who bought it!

  1. HMA said at 11:49 am on Wednesday February 20, 2013:

    Umm… A garage door strapped to a fence doesn’t make a “two car garage.”

  1. Randy said at 2:39 pm on Wednesday February 20, 2013:

    Spectator said “why the hell do you need a wall in the kitchen”  easy there tiger, nobody said there should be a wall there, just more room in the kitchen given it’s a huge room and a lot of wasted space

    Garage? you must be mistaken sir, all I see is a parking slab.

  1. V. Brown said at 4:51 pm on Wednesday February 20, 2013:

    I love it! I love the effect that taking out the walls has, I’m ecstatic to see Trinidad moving toward a prosperous future and I’m glad to see investors taking a chance in some of our formerly less than attractive areas.

  1. Ann said at 11:11 pm on Wednesday February 20, 2013:

    Well the new owners could’ve purchased it last year, hired a contractor for $200k and still paid about half of what they bought it for.  I understand people don’t want to do the work themselves but come on.  Not much room for appreciation in this place.

  1. David said at 12:58 am on Thursday February 21, 2013:

    Ann - Agreed.  The owners could have purchased this property or one similar with 60k down and paid for all of the improvements out of pocket - hired a professional designer and everything.  Congrats to the developer(s)!  They will be talking about this flip for a long time.

  1. Trelane Patrick said at 1:59 am on Thursday February 21, 2013:

    Ditto what Ann and David said.  Yeah, it looks nice but I don’t see where it’s worth that much money and it will take forever for the rest of the neighborhood to catch up.  And no, that’s not a garage.

  1. LininginTrinidad said at 9:39 am on Thursday February 21, 2013:

    Why do so many of you think it will take forever for the rest of Trindad to catch up.  Was it 2 years ago that those condos sold in Trindad (across from the park near the school) for $500K?  There were 3-4 units and they all sold somewhere between $450-$550 I believe.

  1. Buyer said at 2:42 pm on Thursday February 21, 2013:

    @Spectator,

    This is why my wife and I are under contract on it. $300/sq ft sure beats the heck out of anywhere in NW DC.  We are currently Bloomingdale residents.  We were hoping to buy another rowhouse in Bloomingdale, but the prices and competition forced us to look elsewhere.

    @LininginTrinidad, you are spot on.  Would people rather pay $500k+ for a 3/2 condo or ~$900k for a 6/4.5 house?  It is a no-brainer.

    We toured about 50 “renovated” properties and this one was the best by far.  The bedrooms and bathrooms were the most tastefully done, and it wasn’t even close.  The staging of the first floor was horrible, but my wife has 1,000 ideas to make it much more functional and defined.  Admittedly, the kitchen is a bit small, but definitely more than enough for us. 

    Our plan is to partition off the basement and make it a separate unit.  The pictures online don’t show the bedrooms or full bathroom down there.  Sure, it needs some rejiggering, but it will be perhaps the best looking English basement rental I’ve seen.

    After laboring through a home search, we are happy to find such a stunning place.  The price is a bit high, but you have no idea the amount of competition that exists out there.  If/when the Capitol Hill Oasis debacle is rectified, then this stretch of Florida will become highly desirable.  I would be open to working with neighbors and the city to find a good solution that remedies such buffoonery.

    We love DC and cannot wait to become part of our new neighborhood.  I sold my wife on the idea of Trinidad/H St and she cannot wait either!

  1. B'Dale Res said at 3:40 pm on Thursday February 21, 2013:

    @Buyer
    Congrats on your new purchase.  I know of a few other Bloomingdale residents moving to that end of town because of the costs within Bloomingdale.  Luckily I was able to buy in Bloomingdale at a good price 3+ years ago…but I am still in the midsts of renovations.  So congrats on moving to a home in a changing area that won’t require a lot of work.

  1. Buyer said at 5:35 pm on Thursday February 21, 2013:

    @B’Dale Res,

    Thank you. We were lucky enough to buy in 2010 before things got out of hand. The property needed a bit of work, but it had been modernized in the early 90s (and updated in the mid-2000s) so it wasn’t in need of substantial overhaul.  Glad we pulled the trigger when we did!  Hope your renovations wrap up soon.

    We found it hard to compete with developers putting in all-cash offers for the multi-family properties in Bloomingdale.  The recent properties on the market that have retained their true 2-family form were less than impressive (45 Bryant—horrible basement), caught in a bidding war (2034 1st St—same developer as 1228 Florida Ave NE) or snapped up by developers (2413 1st).

    The condo boom in the neighborhood really ticks us (and probably quite a few others) off, but it is almost impossible to beat an all-cash buyer who plans on slicing the 2-family into 3 condos (e.g. 74 Adams and now 2413 1st). 

    Hard to stomach leaving Bloomie, but we plan on maintaining our current property as a rental.

    For those of you dissing Trinidad, I would recommend you take a look at the broader picture.  Affordability drives people to the next closest neighborhood.  My wife and I could not afford a rowhouse in our preferred areas of Logan/U St/Columbia Heights in 2010, so we settled on Bloomingdale.  Many others followed the same reasoning and now look at it.

    The same thing has been happening in Trinidad.  People (and developers) get priced out of Capitol Hill/H St/NoMa/Near Northeast and are broadening their search.  We aren’t as early to the game in Trinidad, but the neighborhood still has not fully realized its value.  The stigma tied to the neighborhood is rapidly dissipating.  Commercial development is only a short way behind.  And is H St slowing down???  No way—only more developments are popping up.  Even properties south and east of the starburst are being snapped up like hotcakes.

    Developers are thirsty for properties and are driving up prices with no end in sight.  If you want a single-family or 2-family property, now is as good as it will get.  I went outside my comfort zone of paying for a turnkey property, but I have no buyer’s remorse.  A unique single-family (soon to be 2-family) property in a rapidly developing area?  I’ll take that all day long.

    My two cents for now.  Shilpi, as promised, you and I will have a more fulsome discussion once closing occurs.

  1. TrinidadResident said at 6:09 pm on Thursday February 21, 2013:

    @Buyer - congrats on your purchase. I live on this block. Can’t wait to meet you when you move in. You stumbled upon a great block with wonderful neighbors.

  1. IMGoph said at 8:49 am on Friday February 22, 2013:

    @Buyer - Welcome to the neighborhood. Come on out to the Trinidad Rec Center up on Childress Street next Tuesday for the next Trinidad Neighborhood Association meeting. It’d be a great chance to meet some neighbors!

  1. Ann said at 11:23 am on Friday February 22, 2013:

    @Buyer -  no need to defend your purchase choice, we hope you are happy. Some of us disagree with the value in $600k of ‘renovations’ in Trinidad - Here’s to hoping that trolley arrives! How did you get priced out of those other neighborhoods with almost a million $ budget?

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