Comp and Circumstance: Renovated Homes in Neighborhoods Getting Their Footing

• August 23rd 2010

by Rebecca Ortega

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Comp and Circumstance presents two listings of roughly similar prices in DC and considers the pros and cons of each. This week, we discuss two newly renovated properties in the Capitol Hill and Shaw neighborhoods. The price point is between $729,000-$760,000.

See all our past Comp and Circumstance features here.

Four-Bedroom Straddling Capitol Hill and Hill East

This week’s Comp and Circumstance considers two newly renovated properties in neighborhoods still finding their footing.

112 14th Street SE is an end-unit row home two blocks east of Lincoln Park and hovering on the border of Capitol Hill and Hill East. The property is listed as having four bedrooms and 3.5 baths. For being a somewhat narrow home, the renovation did not take full advantage of the potential for the space. The kitchen island, while beautiful and a draw for many buyers, unfortunately leaves little room for a dining area. Also, two of the three bedrooms on the upper level are fairly small, with one having an awkward shape that makes it difficult to envision space for much more than a bed; the second looks like it would best be used as an office.

The home has a fully-finished basement with hardwood floors, a living/kitchen area, a bedroom and a full bath. The area could be rented out. The house also has a back patio, but a low overhang limits its usable space.

Despite its cons, the renovation of the home is quite nice, and the bathrooms and main level kitchen are very well appointed. The location of the property also lends itself to a number of different amenities in the area. It’s a short walk from Lincoln Park and the Potomac Ave Metro on the Blue and Orange Lines. Those willing to walk just a bit further can get to Eastern Market and all of the restaurants and bars of H Street NE.

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Four-Bedroom Straddling Shaw and Truxton Circle

1620 New Jersey Avenue NW is similar to 112 14th Street SE as it is a newly renovated row home that straddles the boundaries of two neighborhoods (Shaw and Truxton Circle). There are important distinctions, however, in both the property itself and its surroundings.

1620 New Jersey Avenue was renovated in 2007 and also has four bedrooms and 3.5 baths. It features a working fireplace, hardwood floors, a patio with room for a table and chairs, and one off-street parking space. It suffers from being a middle unit in a block of row houses, meaning that some of the rooms are not exposed to very much natural light. The narrow property fits a decent sized master bedroom, but the second two upstairs bedrooms are each only around 10 feet by 10 feet.

The fully finished basement in this property is a legal rental unit, meaning that the eventual buyer may assume the position of landlord, something that not everyone is hoping to do when they buy a home. (The current tenant’s one year lease is up and is month-to-month, according to the listing agent.) Those willing to house a tenant will see at least a $1,200 monthly income (2009 rental price), which will help offset the mortgage. The downside to having a tenant in this property is the loss of extra living space; the living areas on the main and upper levels are not very spacious. With such narrow rooms, potential buyers will wonder where and if they can entertain.

1620 New Jersey Avenue NW is in potential walking distance of the growing nightlife options of the U Street Corridor, the encroaching redevelopment spreading east from Logan Circle, and the planned development projects just north of the Convention Center. New Jersey Avenue is a busy street, however, and its proximity to the even busier Rhode Island Avenue, Florida Avenue, and North Capitol Street make this property feel removed from the residential streets that attract buyers to Shaw.

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So, what do you think? Do these prices feel high or correct? Would you invest in these neighborhoods just off the beaten path? Let us know your preference in the comments below.

	112 14th Street SE	1620 New Jersey Avenue NW
Bedrooms	4	4
Bathrooms	3.5	3.5
Pros	Top-to-bottom renovation, 2 blks from Lincoln Park, 5 blks from Potomac Ave metro station, end unit	Top-to-bottom renovation, patio, working fireplace, 3 blks to Shaw metro station, legal rental unit, off street parking
Cons	Limited outdoor space, poor layout upstairs, no parking	Very little natural light, narrow living space, small bedrooms
Price	$759,900	$729,000
Neighborhood	Capitol Hill/Hill East	Shaw/Truxton Circle
Links	Full listing — Map	Full listing — Map

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/comp_and_circumstance_renovated_homes_in_neighborhoods_getting_their_footin/2409.