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Wednesday, February 20, 2013

Urban Turf: Trinidad's Almost $1 Million Home Under Contract

Urban Turf reports that the Florida Avenue house originally listed for $926,500 has found a buyer after taking a price cut to $898,400. The house is quite large (3,000 sqft and 25 feet across), and it has six bedrooms (two in the basement),4.5 bedrooms, a deep backyard, and a balcony. However, despite what both the listing and the Urban Turf article say, there is no garage, just a parking pad. Any guesses on the actual sales price? LOVE the custom mailbox, BTW.

Oh, if you haven't read this recent Urban Turf profile of Trinidad, you really should. One caveat, the article makes it sound like James Barry (the speculator who appears to be responsible for Trinidad's name) was from Trinidad. I don't think that's true, but he did spend some time there.

15 comments:

Florida Ave said...

Nice, welcome new neighbors! (even if you did overpay) I hope some of these recent sales motivate the people with vacant houses on this block to renovate or sell (1256 Florida and 1260 Florida in particular).

Anonymous said...

$850,000 is quite a bit short of a million.

inked said...

3:45,
I think it was a reference to the original list price. And I don't know the actual offer amount.

AspiringRapper said...

1256 Florida isn't vacant. A very nice and friendly large family of squirrels lives there and they're very concerned about being pushed out of the neighborhood. Where will they go!?!?

Anonymous said...

Sheesh, even after the price drop that is insanely expensive for that neighborhood. Considering similar renovated homes with similar square footage (if you look at public facts for the house, Sqft is actually 2600, not 3000) are selling in the $700s in NoMa, it just doesn't make sense. If they paid a dime more than $650k they paid too much (and even that seems steep to me for this area).

It seems to me people are absolutely desperate for property right now, and I don't think that's sustainable. The market will probably cool off some in the next few years.

That said, if they're planning on staying 10 years or more, they may see a return on that investment if they did pay close to the asking price.

Anonymous said...

Even $650 K for a home right next to a fire station and on one of the city's busiest streets doesn't seem like a great price to me when you can literally buy 3 homes for that price within a mile of that location.

Rob said...

Rise prices, rise! Haha.

Anonymous said...

Anon 1225--LOL! Never read so many wrong observations strung together in a row. I'll see you in five years on this blog to accept your concession that every prediction or observation you made was incorrect.

Anonymous said...

So, you think that once mortgage rates rise, and more inventory starts to show up on the market real estate prices won't cool off? I didn't say take a nose dive- I said cool off. It doesn't seem like an unreasonable prediction. Though, if I'm wrong, all the better for everyone who already owns a house (including myself).

And considering I just bought a renovated house in NoMa (close to the Metro) 4 months ago for less than $600k with similar square footage and income apartment, yes I do think this price is indeed quite steep.

Anonymous said...

600K for a house in NOMA? Underwater much?

Anonymous said...

One other piece of this discussion should be the square footage of the lot. The back yard is long and wide (bigger than most you would find in NOMA or Capitol Hill even after taking out space to park two cars). I'm not saying that justifies $800,000+, but you can't renovate your way into a huge backyard and a house that is significantly wider than most. I would be surprised if someone purchased a house in NOMA with the same backyard size- they exist, but mostly in Trinidad.

Anonymous said...

I'm a little surprised at the price as well, but that house is huge. It is the widest one on the block by quite a bit. I think it might be a double lot. The lots on that side of Florida tend to by pretty large generally. It would be difficult to find such a lot on the Hill or in NOMA.

inked said...

That house is 25 feet wide from interior wall to interior wall.

OneEyedPirate said...

The lot is 3366 sq ft. Very few(if any) lots this size exist south of Florida Ave. The first and second blocks of Trinidad from Fl Ave have these lots and then they begin to shrink...

Anonymous said...

This was on PoP back on February 4. The consensus was this was a nutty price. I am sort of surprised it sold that fast though. Still think it sold for a bit more than it should have.