So not worth over 1/2 mil- 1622 4th St NW

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For more info please see What is wrong with 1622 4th St NW.

1622 POS 4 Sale
Well 1622 4th St NW went up for sale. I looked on Redfin. $525,900.
If you do buy, save up for the eventual repairs you're going to have to do. Just because the renovation is new, doesn't mean it's a good reno. According to one neighbor who has been on the block for like for-ever, said when they bought their house they discovered some dangerous stuff behind the walls a few years later. Crap behind the wall is just the nature of the neighborhood, new construction be damned! Yeah, I experienced that same crap behind the walls thing with my house, but I just blamed crackheads. I stand by my call that you will need a home inspector with x-ray vision.
Also for $526K you should get insulation thrown in. I'm just saying'.
And they should have properly cleaned up the front yard before throwing mulch on top.
That and maybe some bars. Hey I have pondered taking off the security bars and then someone 3 blocks off gets robbed or their home is invaded, and I decide to keep them. Bar-less1622 comes with an alarm system, but I know of people who had alarm systems and still managed to get robbed.
For over half million, you should also get a freaking leather bound final report showing that all that renovation actually passed inspection. Not just the permits being approved, that's easy. No, you need proof that someone with 2 brain cells looked at and approved the plumbing, the electrical, and the structural framing before they closed it up and put up pretty tile. Hopefully you can sue the 2 braincells if they just rubber stamped it, but then you'd have to be in the mood to sue.
Let's play with some numbers. The last house to sell on that side of the 1600 blk of 4th, sold for $450K in May, it is on the smallest lot but was in decent shape and it has a walk in basement, which could be an income stream. 1622 does not have a basement. Before that was 1606 for $329K, and before that in 2010, 1630 for $440K. 1630 was done by a live in contractor and his wife, and it has that same wide addition in the back, but 1630 is of better quality and has a slightly bigger lot. My own renovation back in 2007, plus this year's basement reno and repair after the renovation, and the kitchen renovation from 9 years ago adds up to $153K. I mention this as a general measure of a good renovation. Fatukasi bought 1622 this year for $227.2K, I couldn't say that has $150K worth of competent renovation work.
I've been on this block for over a decade and seen many houses on this block undergo various renovations and flips. This is one of the worst ones I've seen. Right up there with Sonny the Nigerian whose flip had the then new residents' kitchen cabinets full of dishes falling off the wall. Luckily, that house was fixed and re-renovated by another live in construction guy.
This is a great block but whoever buys this, and I know someone will buy it, they need to be aware of the hidden dangers of the house that they WILL need to address if they plan to live in the home for any length of time.

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