Above Asking: $100,000 Over List in Mount Pleasant

• June 17, 2013
• 3 Comments

by Shilpi Paul

In Above Asking, we sift through real estate records and highlight homes that recently sold for above their asking prices.

Craftsman Convenient to the Park

This craftsman-style Mount Pleasant rowhouse is the sort of home that would appeal to plenty of buyers: the wooden detailing, wide front porch and office space off of the master bedroom gave the five-bedroom an edge over typical listings. The 1,980-square-foot home found a buyer in one week, and a bidding war drove the initial price up by more than $100,000.

• Address: 2011 Klingle Road NW (map)
• Asking Price: $879,000
• Sale Price: $996,000
• Bedrooms: Five
• Bathrooms: Three
• Year Built: 1921
• Days on Market: 7

Renovated Over a Decade on 10th Street

Rather than an all-in-one rehab, this 10th Street NW Victorian underwent a series of renovations over the course of a decade. At some point, someone took down walls: the first floor has one big, open room with two fireplaces, while the kitchen is a bit more private. The rental unit on the lower level will certainly help the new owners offset their mortgage. The home went under contract 10 days after hitting the market, and sold for about $40,000 over the asking price.

• Address: 1522 10th Street NW (map)
• Asking Price: $812,000
• Sale Price: $855,000
• Bedrooms: Three
• Bathrooms: 3.5
• Year Built: 1890
• Days on Market: 10

Mount Pleasant Rowhouse With Views of the Park

This Mount Pleasant rowhouse has three bedrooms, with windows that point directly into Rock Creek Park. The fireplaces in the master bedroom and kitchen, the clawfoot bathtub, and the columns and dramatic staircase add some stately flair to the home. After the listing entered the market in mid-April, a buyer picked it up within six days. Like the first listing we featured, the sales price for the home was more than $100,000 over the asking price.

• Address: 1835 Ingleside Terrace NW (map)
• Asking Price: $774,000
• Sale Price: $883,000
• Bedrooms: Three
• Bathrooms: 2.5
• Year Built: 1928
• Days on Market: 6

This article originally published at http://dc.urbanturf.com/articles/blog/above_asking_mount_pleasant_rowhouses_selling_for_100000_above_asking/7207

3 Comments

1. Ben S said at 5:57 pm on Monday June 17, 2013:
   These look like nice, well priced properties and I can see why they'd attract multiple offers. I'm watching other neighborhoods, like Petworth, very closely. It seems to be that there are more flips on the market now, developers are having to DROP PRICES, and houses are sitting longer. I'd love to know what UT and others are noticing about these 'hot' neighborhoods. Is market cooling ever so slightly with interest rates on the rise?? I've seen this reported in other media but wonder what UT folks/readers think?

1. JS said at 7:51 pm on Monday June 17, 2013:
   Ben S - I recently bought a fixer upper in Columbia Heights after extensively looking at properties in Petworth. When I was looking, it seemed like the market there was basically 2 groups: all cash purchases of fixer uppers and flips. My fiance and I tried to get a fixer upper but were simply outbid multiple times by cash. It was disheartening to see these same houses back on the market three months later at a 2X mark up. In most every case, the flips were of VERY poor quality and featured defects clearly visible to the untrained eye. Cabinents installed incorrectly, doors hung askew, back yard drainage issues. While there is a hot market in Petworth, my theory is that the increased spring inventory means that buyers are no longer willing to pay list for a substandard product. They'd rather wait a week or two and see what's new that comes on market.

1. DC Jnell said at 1:22 pm on Thursday June 20, 2013:
   Another house in Mt. P just went for $206,000 over ask, which just seems insane. I bought in the hood two years ago and thought it was tough going, but I see now how much worse it has gotten....