4 months on rocket

515 Constitution NE, Washington, DC, 20002

$1,200,000

Home List Price

$10,000*

Closing Credit

0 Baths
2,919 SqFt
$411/SqFt
Multi

Location

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515 Constitution NE, Washington$1,200,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
ParkingOn Street
Year Built1907
HeatingHot Water
CoolingWindow Unit(s)
BasementYes
MLS #DCDC2146612
Lot Size0.03 Acres
StatusActive
(ACTIVE)

About 515 Constitution NE

Rare opportunity to purchase a fully-tenanted, pretty bayfront Victorian 4 unit property in PRIMO location steps to Stanton Park, Union Station Metro, Eastern Market, US Capitol Complex and everything the Hill has to offer. Walk Score of 92, Bike Score of 97. All 4 units offer tall ceilings, beautiful original mantels and tilework on decorative fireplaces, nice original doors and trim throughout, including the main hallway staircase banister and spindles. The upper 3 units have pretty pine floors, their living areas at front get good light from large bay windows, their updated kitchens have a single run of upper and lower cabinets w/formica countertops, bathrooms are updated and each includes a linen closet. The upper 2 units have quite large screened-in porches providing 3-season additional space to relax and unwind. On the main level unit that porch space has been enclosed w/windows and incorporated into the unit as an un-conditioned sun room, along w/private stairs to backyard. The spacious-feeling lower level studio unit is carpeted, has 8’ tall ceilings, a large walk-in closet, an updated bathroom, newer L-shaped open kitchen w/formica countertops, and direct access to the spacious shared fully-fenced backyard patio where tenants enjoy relaxing and entertaining, sheltered by a large tree. There is a gate for pedestrian access to the alley, making it easy for bikes/strollers. Well-maintained building: screened-in rear porches were recently re-built and re-supported; brickwork was repointed on sides and at rear; the main hallway was recently repainted and re-carpeted; and the newish metal roof was recoated in the past 5 years. There is a single boiler for heat to the building, a single 75 gallon water heater for the building. These systems are located in a separate space on lower level, accessed from outside the building through pedestrian gate to alley. Each unit has 1 window unit A/C that conveys w/sale. Each unit has its own electric meter and electricity is paid individually by each unit. Gas is paid by owner. The 3 1BR/1BA units on upper floors are each month to month, the lease on the lower level studio unit ends 12/31/24. Subject to rent control, the 2023 annual rent was $72,223 and the 2024 monthly rent roll totals $6502 ($78,024 per year). TOPA notice will be given. This property has had VERY little turnover, 3 are long-term tenants. Property conveys with tenants in place. Property offers possibilities for investor looking to take over a fully-tenanted 4-unit property, or for a savvy owner-occupier who might wish to occupy one or more units for themselves and continue renting out the others. All prospective buyers are advised to run numbers w/a financial advisor knowledgeable about DC TOPA regarding 4 unit buildings, and see how this may work financially BEFORE attempting to see the property. To avoid unnecessarily inconveniencing tenants, seller is requiring proof of funds or lenders letter before scheduling all showings. Shown strictly by appointment during business hours, w/minimum 24 business hour advance notice. Initial showings are likely to be for just one of the 4 units, arrangements to view other units would be made w/submission of an offer to purchase the property. Tenants convey w/sale of property. Note that sf figures are not to be used for valuation purposes.

Property Details

Property Features

Property Information:

  • Architectural Style: Victorian
  • Year Built: 1907
  • Living Area: 2,919 SqFt

Listing Office:

  • Office Name: Compass
  • Office Phone: (202) 545-6900
  • Listing Agent: Jeanne H Harrison

Interior Features

Interior Information:

  • Appliances: Disposal, Oven, Electric Range, Oven, Gas Range, Refrigerator, Water Heater
  • Basement: Yes
  • Flooring Type: Wood, Carpet
  • Interior: Carpet, Entry Level Bedroom, Flat, Studio, Bathroom - Tub Shower, Walk-in Closet(s), Wood Floors

Exterior Features

Exterior Information:

  • Exterior: Extensive Hardscape

Parking Information:

  • Parking: On Street

Lot Features

Lot Information:

  • Lot Size: 0.03 Acres

Utilities

Utilities Information:

  • Heating: Hot Water
  • Cooling: Window Unit(s)

School Info

Assigned Schools Information:

  • Eastern High School, Public District Grades 9-12
  • Stuart Hobson Middle School, Public District Grades 6-8
  • Watkins/Peabody Elementary School, Public District Grades EE-5

Other

Directions Information:

  • Directions: Between 5th and 6th St NE, 2 blocks to Stanton Park

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,200,000
  • Price Per SqFt: $411/SqFt
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Housing Market Comparison

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

Med. Sold Price

$672.3K

Med. Price/SqFt

$511

Avg. Days On Market

43

# of Sold Homes

485

515 Constitution NE vs Washington

137 DAYS ON ROCKET

+94 Days

$1,200,000

+$527.6K More

$411/SqFt

-$100 Less

KEY TAKEAWAY

This property is $527.6K more than the Median Sold Price and $100/SqFt less than other homes in Washington, DC.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: BRIGHT
  • MLS Number: #DCDC2146612

Listing Office:

  • Office Name: Compass
  • Office Phone: (202) 545-6900
  • Listing Agent: Jeanne H Harrison

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: 11/3/2024, 7:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

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Recommended Financing

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Total Monthly Payment

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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.

Elementary School

school-card-donut-997517
7
/10
  • Watkins/Peabody Elementary School

  • 420 12th St SE

  • 0.75 miles

  • Public District Grades EE-5

Middle School

school-card-donut-997518
6
/10
  • Stuart Hobson Middle School

  • 410 E St NE

  • 0.34 miles

  • Public District Grades 6-8

High School

school-card-donut-997519
2
/10
  • Eastern High School

  • 1700 E Capitol St NE

  • 1.04 miles

  • Public District Grades 9-12

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $85,317. Typical income of Washington, DC residents is between $35k-100k annually. The majority of families are single, no kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas


Rocket HomesDistrict of ColumbiaWashington20002515 Constitution NE

This home is located at 515 Constitution NE in Washington, DC and zip code 20002 in the Stanton Park neighborhood. This 2,919 square foot home, which was built in 1907, sits on a 0.03 acre lot. It has been listed on Rocket Homes since June 18, 2024 and is currently priced at $1,200,000.

In October 2024 more than 142 listings in Washington, DC were sold above the asking price. During the same period more than 118 listings were sold at asking price, while more than 225 were sold below. The number of listings in Washington, DC increased by 21.3% between September 2024 and October 2024. In October 2024 median list price was $672,329 and the average listing age was 43 days.

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

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