NOT LISTED FOR SALE

Velocity Condominiums 1025 1st St SE Unit 501 Washington, DC 20003

Navy Yard Neighborhood

Estimated Value: $563,000 - $586,521

2 Beds
1 Bath
895 Sq Ft
$474/mo HOA Fee

Last Sold June 28, 2021

Last sale price $540,000 $603 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $4,077/month

14 Days on Market

Highlights

  • Concierge
  • 3-minute walk to Navy Yard
  • Community Pool
  • Fitness Center
  • Contemporary Architecture
  • 4-minute walk to Washington Canal Park

About This Home

As of June 2021

This is your opportunity to own in The Velocity, a well established and amenity rich building. This is a spacious one bedroom and DEN which is perfect as an office or a dining area. A well equipped kitchen with an island that opens into the living room with large floor to ceiling windows with private balcony overlooking the interior courtyard. The bedroom is a good size, large enough for a king bed with good closets and a large bathroom just off with W/D. There is a garage parking spot P3-178. The building has 24 hour concierge, fitness room, meeting/party room, roof terrace and pool plus this building is very pet friendly. It is perfect for those people who want to live in the Navy Yard with all the hustle and bustle, wonderful bars and restaurants and don't forget the Nationals. 3 min walk to the Navy Yard Metro. VA & FHA Approved. Bring me an offer!

Last Listed By

Fleur Howgill

TTR Sotheby's International Realty License #0225200989 Listed on: 05/12/2021

TTR Sotheby's International Realty

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $4,320

Year Built

  • Built in 2009

Lot Details

  • Property is in excellent condition

HOA Fees

  • $474 Monthly HOA Fees

Parking

  • Basement Garage
  • Side Facing Garage
  • Garage Door Opener

Home Design

  • Contemporary Architecture

Interior Spaces

  • 895 Sq Ft Home
  • Property has 1 Level
  • Den

Bedrooms and Bathrooms

  • 2 Main Level Bedrooms
  • 1 Full Bathroom

Accessible Home Design

  • Accessible Elevator Installed
  • Ramp on the main level

Utilities

  • Forced Air Heating and Cooling System
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number 0699/N/2042

Community Details

Overview

  • Association fees include common area maintenance, exterior building maintenance, management, reserve funds, snow removal, trash
  • 200 Units
  • High-Rise Condominium
  • Old City I Community
  • Navy Yard Subdivision
  • Property Manager

Amenities

  • Concierge
  • Common Area
  • Party Room

Recreation

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$4,320

Year Built

Built in 2009

Lot Details

0

HOA Fees

$474 per month

Parking

1

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Hi-Rise 9+ Floors
  • Architectural Style: Contemporary
  • Accessibility Features: Elevator, Ramp - Main Level
  • Ownership: Condominium
  • New Construction: No
  • Story List: Main
  • Year Built: 2009
  • Automatically Close On Close Date: No
  • Remarks Public: This is your opportunity to own in The Velocity, a well established and amenity rich building. This is a spacious one bedroom and DEN which is perfect as an office or a dining area. A well equipped kitchen with an island that opens into the living room with large floor to ceiling windows with private balcony overlooking the interior courtyard. The bedroom is a good size, large enough for a king bed with good closets and a large bathroom just off with W/D. There is a garage parking spot P3-178. The building has 24 hour concierge, fitness room, meeting/party room, roof terrace and pool plus this building is very pet friendly. It is perfect for those people who want to live in the Navy Yard with all the hustle and bustle, wonderful bars and restaurants and don't forget the Nationals. 3 min walk to the Navy Yard Metro. VA & FHA Approved. Bring me an offer!
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Entry Floor: 5
  • Fireplace: No
  • Levels Count: 1
  • Room List: Den
  • Basement: No
  • Total Sq Ft: 895
  • Living Area Sq Ft: 895
  • Price Per Sq Ft: 642.46
  • Above Grade Finished Sq Ft: 895
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 1025

Beds/Baths

  • Bedrooms: 2
  • Main Level Bedrooms: 2
  • Total Bathrooms: 1
  • Full Bathrooms: 1
  • Main Level Bathrooms: 1.00
  • Main Level Full Bathrooms: 1

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Concrete
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: Yes - Community
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage Spaces: 1.00
  • Garage: No
  • Parking Features: Limited Common Elements
  • Garage Features: Garage Door Opener, Garage - Side Entry, Basement Garage, Underground
  • Total Garage And Parking Spaces: 1
  • Type Of Parking: Parking Garage
  • Parking Garage Number Of Spaces: 1

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Heating Fuel: Electric
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 473.71
  • Condo Co-Op Fee Frequency: Monthly
  • HOA Condo Co-Op Amenities: Common Grounds, Concierge, Elevator, Fitness Center, Party Room, Pool - Outdoor
  • HOA Condo Co-Op Fee Includes: Common Area Maintenance, Ext Bldg Maint, Management, Reserve Funds, Snow Removal, Trash
  • HOA: No
  • Senior Community: No

Schools

  • School District: DISTRICT OF COLUMBIA PUBLIC SCHOOLS
  • School District Key: 121140357950
  • School District Source: Listing Agent

Lot Info

  • Property Condition: Excellent
  • Soil Types: Urban Land Not Rated
  • Zoning: RA-2
  • In City Limits: Yes

Rental Info

  • Pets: No Pet Restrictions
  • Pets Allowed: Yes
  • Vacation Rental: No
  • Property Manager: Yes

Tax Info

  • Tax Annual Amount: 4320.00
  • Assessor Parcel Number: 0699/N/2042
  • Tax Year: 2020
  • Close Date: 06/28/2021

MLS Schools

  • School District Name: DISTRICT OF COLUMBIA PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 12, 2021
Closed on
Jun 24, 2021
Sold by
Groves Andrew P
Bought by
Rasmussen Loki
Seller's Agent
Fleur Howgill
TTR Sotheby's International Realty
Buyer's Agent
Fleur Howgill
TTR Sotheby's International Realty
List Price
$575,000
Sold Price
$540,000
Premium/Discount to List
-$35,000
-6.09%
Total Days on Market
14
Current Estimated Value
$576,880

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$36,880
Avg. Annual Appreciation
1.50%
Original Mortgage
$486,000
Outstanding Balance
$447,606
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$124,877

Purchase Details

Closed on
Apr 15, 2011
Sold by
Square 699N Phase I Developer
Bought by
Groves Andrew P

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$366,352
Interest Rate
4.5%
Mortgage Type
FHA

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Rasmussen Loki $540,000 Paragon Title & Escrow Co
Groves Andrew P $375,900 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rasmussen Loki $486,000
Previous Owner Groves Andrew P $339,000
Previous Owner Groves Andrew P $366,352
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/28/2021 06/28/21 Sold $540,000 -6.1% $603 / Sq Ft
05/26/2021 05/26/21 Pending -- -- --
05/12/2021 05/12/21 For Sale $575,000 -- $642 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $4,485 $542,880 $162,860 $380,020
2023 $4,432 $536,170 $160,850 $375,320
2022 $4,407 $532,220 $159,670 $372,550
2021 $4,313 $520,700 $156,210 $364,490
2020 $4,321 $508,330 $152,500 $355,830
2019 $4,146 $487,820 $146,350 $341,470
2018 $3,976 $467,720 $0 $0
2017 $3,908 $459,770 $0 $0
2016 $3,662 $430,860 $0 $0
2015 $3,536 $415,960 $0 $0
2014 -- $386,480 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Fleur Howgill

    Seller's Agent in 2021

    Fleur Howgill

    TTR Sotheby's International Realty

    (202) 425-9403

    3 in this area

    99 Total Sales

    Fleur Howgill
    Section Image
See All Agents

About Velocity Condominiums

Map

Source: Bright MLS

MLS Number: DCDC521570

Bright MLS

APN: 0699N-2042

District of Columbia District of Columbia County Washington 20003 Navy Yard

1025 1st St SE Unit 501, Washington, DC

Homes for Sale in Washington, DC

This home is located at 1025 1st St SE Unit 501, Washington, DC 20003 since 12 May 2021 and is currently estimated at $576,880, approximately $644 per square foot. This property was built in 2009. 1025 1st St SE Unit 501 is a home located in District of Columbia with nearby schools including Van Ness Elementary School, Jefferson Middle School Academy, and Eastern High School.

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