Tuesday’s Deal of the Week

by Mark Wellborn

Today’s “Deal of the Week” is a three-bedroom Victorian rowhouse at 1354 Independence Avenue SE in Capitol Hill that has seen its price drop by $40,000 since it was initially listed. As an added bonus, the property has an English basement that is the perfect rental unit.

The property is located just south of Lincoln Park. It has the usual features of many classic Capitol Hill homes (hardwood floors, wood burning fireplace), but it also has two large bedrooms in the main house and a new granite kitchen. For the full listing, click here.

  • Price: $697,500
  • Beds: Three
  • Baths: 2.5
  • Parking: Street

1354 Independence Avenue SE
Living Room
Master Bedroom
Second Bedroom

See other articles related to: deal of the week, dclofts

This article originally published at http://dc.urbanturf.com/articles/blog/tuesdays_deal_of_the_week1/672


  1. Tom A. said at 3:27 pm on Tuesday March 17, 2009:

    Wow what a very beautiful home! But that price is hardly “a deal” at least in these times, and in that neighborhood.  You can probably find something similar right near Eastern Market for that price.  This is one of only a handful homes for sale in Capitol Hill for over 650k, and most are much close to the Capitol.  And it’s been de-valued to $652,760.  Getting it for the value would start being closer to being a “deal!”

    I know this is a realty site, but I hope we can be a bit critical! I spoke with a realtor recently and he was acting like it’s 2006 and everything is selling like hotcakes!  I guess it’s good to be positive, but it seemed a bit silly to hear him talk like if people don’t act today their going to lose their “dream home.”

  1. Mark Wellborn said at 3:59 pm on Tuesday March 17, 2009:

    Hey Tom,

    Thanks for the comments. We love the criticism!

    However, to your point about prices in Cap Hill, we just wanted to point out a few other comparable properties in the area that are on the market for 30-40K above this one to give you some insight as to why we considered this one a deal. Here they are:



    Keep in mind that the listing at 1354 Independence Ave also has a rental unit.


  1. chimychew said at 11:46 am on Wednesday March 18, 2009:

    Sellers and Agents need to get in touch with reality in Capitol Hill and most places in DC for that matter.  There is still a big disconnect between list prices and actual sales/closed prices.  Sure you can continue to list your home at 2006 prices, but be prepared to list it for a long time and get plenty of low ball offers.  If you price fairly from the get go, you are much more likely to sell you home in a reasonable amount of time and hey… you might even get a few offers to choose from :0

  1. Pam said at 3:02 pm on Wednesday March 18, 2009:

    I was born, raised, and currently live on Capitol Hill. This house is a good deal. Yes, the original listing price was a bit high for this market but the current price is a deal. This house is steps from one of Capitol Hills best parks, is within walking distance of two metro stops (Eastern Market and Union Station), and even has a rental unit. If it were right at Eastern Market it would be in the 700s for sure.

  1. daveh said at 9:34 pm on Wednesday March 18, 2009:

    Did you see the FY08 assessment info?  House is still overpriced… most DC assessments have dropped about 10%.  House should be priced in mid-600’s.

    Assessment Information
    Year: 2008
    Total Assessment: $699,740.00
    Total Assessment Frequency: Annually
    Land Assessment: $300,330.00
    Land Assessment Frequency: Annually
    Improvement Assessment: $399,410.00
    Improvement Assessment Frequency: Annually

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