NOT LISTED FOR SALE

5501 7th St NW Washington, DC 20011

Manor Park Neighborhood

Estimated Value: $911,997

4 Beds
3 Baths
2,150 Sq Ft
$424/Sq Ft Est. Value

Last Sold July 29, 2021

Last sale price $1,050,000 $488 Per Sq Ft

Est. 13% decrease in value since last sale

Current estimated payment $5,949/month

58 Days on Market

Highlights

  • Colonial Architecture
  • Wood Flooring
  • No HOA
  • Traditional Floor Plan
  • Corner Lot
  • 3-minute walk to Piscataway Park

About This Home

As of July 2021

$150K PRICE DROP!! NO OTHER LARGE CORNER Opportunities Exist in the Area (WITH PARKING) An unparalleled investment opportunity to not only develop in the Iconic Kennedy Street Corridor, but to own a part of the area History. For over 50 years, the owner has been operating a Freeman’s Barber Shop & Beauty Salon making this site a staple in the community. NOTE: POTENTIAL DEVELOPMENT PLANS (RENDERINGS) SHOWN IN PICTURES: as a 8-unit Residential Building with Additional Commercial Space. Rendering and Plans have been provided by Architect MAKEBA GAINES-KELLY of Gaines Kelly Design House. MAIN ADDRESS is 5501 7th Street NW, but the front side of the property where the commercial businesses are on the Kennedy Street level has ADDRESS of 631 Kennedy Street, NW DC. (Sits directly on the corner of 7th & Kennedy Streets NW) As a Mixed-Use site (MU-4), this Huge Corner is a Prime location for a Plethora of Development Concepts and offers flexibility to keep current footing OR build upwards (increase level count) and add-on to rear (build back) for Residential and/or Commercial usage. Located in a DC Qualified HUB Zone and Has NO Leases and NO Tenants. SOLD STRICTLY AS-IS Upper Levels provide Hardwood Floors, 4 Bedrooms, a Full Bathroom, Kitchen, Rear Deck, and a large front porch (It used to be rented out for residential). Lower Street Level has 2 entrances for 2 separate businesses – both have Half Bathrooms. Current Parking in the rear for 3 vehicles. Situated on Kennedy Street and Minutes to: Rock Creek Park, many transit routes which facilitate ease to access most of the city as well as Chevy Chase, Bethesda, Takoma Park, Silver Spring and Friendship Heights. Also close proximity to an array of dining options & Cafes, and Many More Conveniences. A $10MM Kennedy Street Revitalization Plan has recently been completed, and development of 2MM SQF at nearby Art Place at Fort Totten is currently underway, with Aldi, Meow Wolf Museum, and a 24-Hour Fitness as anchor tenants. Please note, this property also listed as DCDC508928 (For Commercial). Please use COVID precautions. Live On the Upper Level(s) or Divide the Upper Levels Into 2 units, Operate a business (or 2 businesses) on Street Level, and rent the Upper Level(s). So Much Potential Here. (Please See Attached Property Analysis).

Last Agent to Sell the Property

Kimberly Rice

TTR Sotheby's International Realty Listed on: 03/08/2021

TTR Sotheby's International Realty

Last Buyer's Agent

datacorrect BrightMLS

Non Subscribing Office

Townhouse Details

Home Type

  • Townhome

Est. Annual Taxes

  • $4,404

Year Built

  • Built in 1923

Lot Details

  • 1,742 Sq Ft Lot
  • Level Lot
  • Front and Side Yard
  • Property is in good condition

Home Design

  • Colonial Architecture
  • Brick Exterior Construction

Interior Spaces

  • 2,150 Sq Ft Home
  • Property has 3 Levels
  • Traditional Floor Plan
  • Ceiling Fan
  • Living Room
  • Formal Dining Room
  • Wood Flooring

Kitchen

  • Galley Kitchen
  • Stove
  • Disposal

Bedrooms and Bathrooms

  • 4 Bedrooms

Parking

  • 3 Parking Spaces
  • 3 Driveway Spaces
  • Private Parking
  • Paved Parking

Utilities

  • Central Air
  • Window Unit Cooling System
  • Radiator
  • Heat Pump System
  • Natural Gas Water Heater

Listing and Financial Details

  • Tax Lot 836
  • Assessor Parcel Number 3207//0836

Community Details

Overview

  • No Home Owners Association
  • Petworth Subdivision

Pet Policy

  • Pets Allowed

Townhouse Details

Home Type

Townhome

Est. Annual Taxes

$4,404

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Type: Residential
  • Structure Type: Interior Row/Townhouse
  • Architectural Style: Colonial
  • Ownership: Fee Simple
  • Home Warranty: No
  • New Construction: No
  • Story List: Main, Upper 1, Upper 2
  • Expected On Market: 2021-03-15
  • Federal Flood Zone: No
  • Year Built: 1923
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Remarks Public: $150K PRICE DROP!! NO OTHER LARGE CORNER Opportunities Exist in the Area (WITH PARKING) An unparalleled investment opportunity to not only develop in the Iconic Kennedy Street Corridor, but to own a part of the area History. For over 50 years, the owner has been operating a Freeman’s Barber Shop & Beauty Salon making this site a staple in the community. NOTE: POTENTIAL DEVELOPMENT PLANS (RENDERINGS) SHOWN IN PICTURES: as a 8-unit Residential Building with Additional Commercial Space. Rendering and Plans have been provided by Architect MAKEBA GAINES-KELLY of Gaines Kelly Design House. MAIN ADDRESS is 5501 7th Street NW, but the front side of the property where the commercial businesses are on the Kennedy Street level has ADDRESS of 631 Kennedy Street, NW DC. (Sits directly on the corner of 7th & Kennedy Streets NW) As a Mixed-Use site (MU-4), this Huge Corner is a Prime location for a Plethora of Development Concepts and offers flexibility to keep current footing OR build upwards (increase level count) and add-on to rear (build back) for Residential and/or Commercial usage. Located in a DC Qualified HUB Zone and Has NO Leases and NO Tenants. SOLD STRICTLY AS-IS Upper Levels provide Hardwood Floors, 4 Bedrooms, a Full Bathroom, Kitchen, Rear Deck, and a large front porch (It used to be rented out for residential). Lower Street Level has 2 entrances for 2 separate businesses – both have Half Bathrooms. Current Parking in the rear for 3 vehicles. Situated on Kennedy Street and Minutes to: Rock Creek Park, many transit routes which facilitate ease to access most of the city as well as Chevy Chase, Bethesda, Takoma Park, Silver Spring and Friendship Heights. Also close proximity to an array of dining options & Cafes, and Many More Conveniences. A $10MM Kennedy Street Revitalization Plan has recently been completed, and development of 2MM SQF at nearby Art Place at Fort Totten is currently underway, with Aldi, Meow Wolf Museum, and a 24-Hour Fitness as anchor tenants. Please note, this property also listed as DCDC508928 (For Commercial). Please use COVID precautions. Live On the Upper Level(s) or Divide the Upper Levels Into 2 units, Operate a business (or 2 businesses) on Street Level, and rent the Upper Level(s). So Much Potential Here. (Please See Attached Property Analysis).
  • Special Features: None
  • Property Sub Type: Townhouses

Interior Features

  • Appliances: Stove, Refrigerator, Disposal
  • Interior Amenities: Ceiling Fan(s), Dining Area, Floor Plan - Traditional, Formal/Separate Dining Room, Kitchen - Galley, Wood Floors
  • Fireplace: No
  • Levels Count: 3
  • Room List: Living Room, Dining Room, Kitchen
  • Basement: No
  • Total Sq Ft: 2150
  • Living Area Sq Ft: 2150
  • Price Per Sq Ft: 558.14
  • Above Grade Finished Sq Ft: 2150
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 5501

Beds/Baths

  • Bedrooms: 4
  • Total Bathrooms: 3
  • Full Bathrooms: 1
  • Half Bathrooms: 2
  • Main Level Bathrooms: 2.00
  • Upper Level Bathrooms: 1
  • Upper Level 2 Bathrooms: 1.00
  • Upper Level 2 Full Bathrooms: 1
  • Main Level Half Bathrooms: 2

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Brick
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Parking Features: Asphalt Driveway, Paved Driveway, Paved Parking, Private
  • Total Garage And Parking Spaces: 3
  • Type Of Parking: Driveway
  • Number of Spaces in Driveway: 3

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C, Window Unit(s)
  • Heating Fuel: Natural Gas, Electric
  • Heating Type: Heat Pump(s), Radiator
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: No
  • Senior Community: No
  • Association Recreation Fee: No

Schools

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

Lot Info

  • Horses: No
  • Additional Parcels: No
  • Improvement Assessed Value: 307920.00
  • Land Assessed Value: 128370.00
  • Lot Features: Corner, Front Yard, Level, Sideyard(s)
  • Lot Size Acres: 0.04
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 1742.00
  • Property Condition: Good
  • Soil Types: Unknown
  • Year Assessed: 2020
  • Zoning: MU-4
  • Zoning Description: Mixed use zone
  • In City Limits: Yes

Green Features

  • Clean Green Assessed: No

Rental Info

  • Ground Rent Exists: No
  • Lease Considered: No
  • Pets: No Pet Restrictions
  • Pets Allowed: Yes
  • Vacation Rental: No
  • Property Manager: No

Tax Info

  • Assessor Parcel Number: 16056427
  • Tax Annual Amount: 4404.00
  • Assessor Parcel Number: 3207//0836
  • Tax Lot: 836
  • Tax Year: 2020
  • Close Date: 07/29/2021

MLS Schools

  • School District Name: DISTRICT OF COLUMBIA PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 8, 2021
Closed on
Jul 30, 2021
Sold by
Freeman Herbert and Freeman Mildred
Bought by
5501 7Th St Oz Llc
Seller's Agent
Kimberly Rice
TTR Sotheby's International Realty
Buyer's Agent
datacorrect BrightMLS
Non Subscribing Office
List Price
$1,350,000
Sold Price
$1,050,000
Premium/Discount to List
-$300,000
-22.22%
Current Estimated Value
$911,997

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$138,003
Avg. Annual Appreciation
-2.87%
Original Mortgage
$920,000
Outstanding Balance
$846,667
Interest Rate
3%
Mortgage Type
Future Advance Clause Open End Mortgage
Estimated Equity
$87,307
Source: Public Records

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
5501 7Th St Oz Llc $1,050,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 918 Kennedy Oz Llc $350,000
Open 5501 7Th St Oz Llc $920,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/29/2021 07/29/21 Sold $1,050,000 -12.5% $488 / Sq Ft
05/05/2021 05/05/21 Pending -- -- --
03/30/2021 03/30/21 Price Changed $1,200,000 -11.1% $558 / Sq Ft
03/08/2021 03/08/21 For Sale $1,350,000 -- $628 / 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 $47,896 $957,920 $666,380 $291,540
2023 $15,736 $953,700 $653,320 $300,380
2022 $4,460 $431,600 $128,370 $303,230
2021 $4,508 $436,290 $128,370 $307,920
2020 $4,404 $426,230 $116,700 $309,530
2019 $4,027 $389,680 $106,090 $283,590
2018 $3,727 $360,640 $0 $0
2017 $3,443 $333,220 $0 $0
2016 $3,134 $303,250 $0 $0
2015 $3,117 $301,640 $0 $0
2014 $3,080 $298,060 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Kimberly Rice

    Seller's Agent in 2021

    Kimberly Rice

    TTR Sotheby's International Realty

    (301) 455-4176

    1 in this area

    62 Total Sales

    Section Image

  • d

    Buyer's Agent in 2021

    datacorrect BrightMLS

    Non Subscribing Office

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Map

Source: Bright MLS

MLS Number: DCDC508906

Bright MLS

APN: 3207-0836

District of Columbia District of Columbia County Washington 20011 Manor Park

5501 7th St NW, Washington, DC

This home is located at 5501 7th St NW, Washington, DC 20011 since 08 March 2021 and is currently estimated at $911,997, approximately $424 per square foot. This property was built in 1923. 5501 7th St NW is a home located in District of Columbia with nearby schools including Truesdell Elementary School, MacFarland Middle School, and Roosevelt High School @ MacFarland.

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