new - 5 days on rocket

1938 I St NE, Washington, DC, 20002

$1,299,999

Home List Price

$10,000*

Closing Credit

0 Baths
2,368 SqFt
$549/SqFt
Multi

Location

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1938 I St NE, Washington$1,299,999

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
ParkingOn Street
Year BuiltNew Const., 1942
HeatingHot Water
CoolingCentral Air
MLS #DCDC2171604
Lot Size0.06 Acres
StatusActive
(ACTIVE)

About 1938 I St NE

Discover a prime condo conversion development opportunity in NE DC, strategically positioned near the vibrant H Street corridor. This VACANT (NO TOPA) 4-unit multi-family building comes ready for transformation, with Approved Plans and a recently issued Building Permit to construct 10 luxury condo units spanning a cellar, four floors, and a penthouse (PH) level. Additionally, the property includes two dedicated parking spaces. The development is designed to attract discerning buyers and investors, featuring: Two expansive three-bedroom penthouse units, each spread over the 4th floor and penthouse level. Six thoughtfully designed two-bedroom units. Two stylish one-bedroom units. With a projected construction cost estimated between $1.2M - $1.5M, this development offers a potential sales range from $3.4M - $3.9M. The anticipated ARV is based on $580/sqft to $670/sqft, ensuring a strong return on investment. The total gross area for the 10 units is 7,414 sqft, with a net living space of 5,862 sqft. Plans have been meticulously prepared by 2Plys Architecture, a firm renowned for their expertise in multifamily condo conversions in DC. This project is truly shovel-ready with all plans and permits in place, making it an exceptional opportunity for developers looking to make an immediate impact in one of DC’s most desirable locations. Act now to seize this turn-key development opportunity and position yourself for impressive returns in the dynamic NE DC market. Contact us today for more details and to schedule a viewing.

Property Details

Property Features

Property Information:

  • Architectural Style: Federal, Mid-Century Modern, Contemporary, Colonial
  • Year Built: 1942
  • Living Area: 2,368 SqFt

Listing Office:

  • Office Name: EXP Realty, LLC
  • Office Phone: (833) 335-7433
  • Listing Agent: Nicola C Taylor

Exterior Features

Parking Information:

  • Parking: On Street

Lot Features

Lot Information:

  • Lot Size: 0.06 Acres

Utilities

Utilities Information:

  • Heating: Hot Water
  • Cooling: Central Air

Other

Directions Information:

  • Directions: Use GPS

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,299,999
  • Price Per SqFt: $549/SqFt

Tax Information:

  • Annual Amount: $5,130
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Washington, DC.

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Washington, DC

City

Med. Sold Price

$676K

Med. Price/SqFt

$511

Avg. Days On Market

43

# of Sold Homes

387

1938 I St NE vs Washington

5 DAYS ON ROCKET

-38 Days

$1,299,999

+$623.9K More

$549/SqFt

+$38 More

KEY TAKEAWAY

This property is $623.9K more than the Median Sold Price and $38/SqFt more than other homes in Washington, DC.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: BRIGHT
  • MLS Number: #DCDC2171604

Listing Office:

  • Office Name: EXP Realty, LLC
  • Office Phone: (833) 335-7433
  • Listing Agent: Nicola C Taylor

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 11:55:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Feb 03, 2014Home Sold
$340,000

Tax History

YEARPROP. TAXASSESSMENT
2020$5,130$603,580
2019$4,682$550,840
2018$3,957$465,560
2017$3,700$435,340

History based on county public records data.

Payment Calculator

$6,556

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$3,964

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-4282577
8
/10

  • School-Within-School at Goding

  • 704 26th St NE

  • 0.16 miles

  • Public District Grades PK-5

school-card-donut-4282578
4
/10

  • Two Rivers Public Charter School - Young Elementary School

  • 820 26th St NE

  • 0.21 miles

  • Public Charter Grades PK-5

school-card-donut-4282579
6
/10

  • Kipp Dc - Spring Academy Public Charter School

  • 1375 Mount Olivet Rd NE

  • 0.49 miles

  • Public Charter Grades 1-4

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $32,069. Typical income of Washington, DC residents is less than $35k annually. The majority of families are single, no kids. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›District of Columbia›Washington›20002›1938 I St NE

This home is located at 1938 I St NE in Washington, DC and zip code 20002 in the Northeast neighborhood. This 2,368 square foot home, which was built in 1942, sits on a 0.06 acre lot. It has been listed on Rocket Homes since December 12, 2024 and is currently priced at $1,299,999.

Over 85 listings were sold over their listed price in November 2024 in Washington, DC. In the same period over 219 listings were sold below the listed price and 83 listings were sold for the listed price. The number of listings in Washington, DC increased by 4.8% between October 2024 and November 2024. In November 2024 median list price was $676,027 and the average listing age was 43 days.

From Rocket Homes Real Estate and based on county public records data.

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