______
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
Rama DECEMBER 15, 2021
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
What is a CMA No two homes are identical, which is why choosing a sales price or offer price for a home can be challenging. That's where the comparative market analysis, or CMA, is most useful.
What is a CMA?
The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data such as type of home, number of bedrooms, number of baths, lot size, neighborhood, property condition and features, and many other factors. The purpose is to show estimated market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.
How is the CMA created?
CMAs are generated by using property information from your real estate agent's multiple listing service (MLS). The MLS is available to licensed members only, including brokers, salespeople, and appraisers, who pay dues to gain access to the service's public and proprietary data, including tax roll information, sold transactions, and listings input by all cooperating MLS members. Listing agents generate CMAs for their sellers, and buyer's agents create them for their buyers so both sides know what current market conditions are for the homes they're interested in comparing.
How accurate are CMAs?
The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it can instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria. Why? The market is constantly changing - new listings, pending sales, closed sales, price reductions, and expired listings. CMAs can vary widely, depending on the knowledge and skill of the person creating the CMA as well as the number and type of data Selds that are chosen. That means some features may not be included. As informative as the CMA is, it should only be used as a tool and should not substitute for your real estate professional's knowledge and advice.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
2
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
Map of Comparable Listings
STATUS:
MLS #
STATUS
ADDRESS
S = CLOSED
P = PENDING
C = CANCELED
BEDS
BATHS
SQFT
PRICE
764 Gresham Pl NW
3
3.00
1,384
-
1
Subject
2
DCDC2007486
S
736 Gresham Pl Nw
3
1.0/1.0
1,590
$710,000
3
DCDC521988
S
726 Gresham Pl Nw
4
3.0/0
1,384
$874,900
4
DCDC2012666
P
765 Gresham Pl Nw
4
3.0/0
1,202
$849,000
5
DCDC2017574
C
764 Gresham Pl Nw
3
3.0/0
1,384
$850,000
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
3
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
Summary of Comparable Properties S
SOLD LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
736 Gresham Pl Nw
11/24/21
3
1.0/1.0
1,590
$710,000
$447
726 Gresham Pl Nw
6/25/21
4
3.0/0
1,384
$874,900
$632
1,487
$792,450
$539
Averages
P
PENDING LISTINGS
ADDRESS
765 Gresham Pl Nw
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
10/6/21
4
3.0/0
1,202
$849,000
$706
1,202
$849,000
$706
Averages
C
CANCELLED LISTINGS
ADDRESS
764 Gresham Pl Nw
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
-
3
3.0/0
1,384
$850,000
$614
1,384
$850,000
$614
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
4
Listings
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
736 Gresham Pl Nw
Washington, DC 20001
$710,000 CLOSED
3 Beds 1.0/1.0 Baths Year Built 1910
11/24/21
MLS #DCDC2007486 1,590 Sq. Ft. ($447 / sqft) Days on market: 13
Details Prop Type: Single Family Residence
Full baths: 1.0
Off-market date: 11/27/21
Taxes: $5,250
Half baths: 1.0
County: WASHINGTON
Acres: 0.03
Updated: Nov 28, 2021 8:57 AM
Subdivision: COLUMBIA HEIGHTS
Lot Size: 1,375
List Price: $725,000
School District: DISTRICT OF COLUMBIA PUBLIC SCHOOLS
List date: 10/22/21
Orig list price: $725,000
Basement: Partially Finished, Outside Entrance, Connecting Stairway, Windows
Flooring: Hardwood, Carpet, Ceramic Tile
Laundry Type: Basement
Foundation Details: Block Heating: Forced Air
Living Area Source: Estimated
Heating Fuel: Natural Gas
Lot Features: SideYard(s)
Cooling: Central A/C
Hot Water: Electric
Lot Size Source: Assessor
Cooling Fuel: Electric
Interior Features: Ceiling Fan(s), Carpet, Dining Area, Floor Plan - Traditional, Kitchen - Eat-In, Kitchen Gourmet, Recessed Lighting, Window Treatments, Wood Floors
Lot Size Units: Square Feet
Style: ["Colonial"]
Features Above Grade Finished Area Source: Estimated Above Grade Finished Area Units: Square Feet Accessibility Features: None Appliances: Built-In Microwave, Built-In Range, Disposal, Dishwasher, Dryer Electric, Washer, Stainless Steel Appliances, Refrigerator, Oven/Range Gas
Construction Materials: Brick
Door Features: Storm Exterior Features: Bumpouts Fencing: Rear
Levels: 2
Pets Allowed: No Pet Restrictions Property Condition: Excellent Special Listing Conditions: Standard
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
6
Comparative Market Analysis
Senior Community Yn: false Sewer: Public Sewer Soil Types: Urban LandSassafras-Chillum
764 Gresham Place Northwest, Washington, District of Columbia 20001
Structure Type: End of Row/ Townhouse
Water Source: Public Zoning: R
Tax Lot: 227 Tax Year: 2020
Remarks Crisp and Classy in Columbia Heights! This light-Slled 3 bed, 1.5 bath semi-detached federal style home retains all of its classical charm while adding so many thoughtful updates! Wow your neighbors with a beautifully landscaped garden and inviting front porch. As soon as you enter, the bright and open living area welcomes you home. Host dinner parties in the spacious separate dining area, just off of the eat-in gourmet kitchen with stainless steel appliances, a stunning backsplash, and plenty of cabinets for storage. The rear SUNROOM is the perfect spot for relaxation, with easy access to the side yard. The upper level features 3 large bedrooms (one with brand new carpet), a SEPARATE HOME OFFICE SPACE, and a pristine full bath with penny tile Toor. The lower level includes W/D, separate entrance, and plenty of space for a home gym or extra storage. Both the main and upper levels feature high ceilings and beautiful hardwood Toors. Perfectly located seconds to two Metro stations (Columbia Heights and U St.), neighborhood favorites such as Harrar Coffee & Roastery, Wonderland, and Capa Tosta, and shopping/dining along U St. and the newly opened Whole Foods.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
7
Comparative Market Analysis
736 Gresham Pl Nw
764 Gresham Place Northwest, Washington, District of Columbia 20001 Washington, DC 20001
$710,000 CLOSED
11/24/21
3 Beds 1.0/1.0 Baths Year Built 1910
MLS #DCDC2007486 1,590 Sq. Ft. ($447 / sqft) Days on market: 13
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
8
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
726 Gresham Pl Nw
Washington, DC 20001
$874,900 CLOSED
4 Beds 3.0/0 Baths Year Built 1910
6/25/21
MLS #DCDC521988 1,384 Sq. Ft. ($632 / sqft) Days on market: 7
Details Prop Type: Single Family Residence
Full baths: 3.0 Acres: 0.03
Updated: Oct 1, 2021 5:01 PM
County: WASHINGTON
Lot Size: 1,375
List Price: $874,900
Subdivision: COLUMBIA HEIGHTS
List date: 5/20/21
Orig list price: $874,900
Off-market date: 6/25/21
Taxes: $5,037
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Source: Assessor
Levels: 3
Above Grade Finished Area Units: Square Feet
Below Grade Finished Area Units: Square Feet
Accessibility Features: None
Construction Materials: Brick
Style: ["Federal"]
School District: DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Features
Basement: English, Fully Finished, Side Entrance, Connecting Stairway Below Grade Finished Area: 588
Living Area Source: Assessor
Structure Type: Twin/SemiDetached Tax Lot: 232
Lot Size Source: Assessor
Tax Year: 2020
Lot Size Units: Square Feet
Virtual Tour: View
Cooling: Central A/C
Special Listing Conditions: Standard
Water Source: Public
Cooling Fuel: Electric
Senior Community Yn: false
Heating: 90% Forced Air
Sewer: Public Sewer
Heating Fuel: Natural Gas
Soil Types: Urban LandSassafras-Chillum
Hot Water: Electric
Zoning: N/A
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
9
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
Remarks Welcome to this spacious and incredibly charming 3-level, sun-drenched, semi-detached row house. Full north, south, and west exposure distributes radiant natural light throughout the home. The Srst-level open Toor plan features 9.5 ft ceilings, exposed brick, exotic cherry wood Toors, in-ceiling speakers, and tons of natural light. On the 2nd level, youll Snd 3 bedrooms and 2 bathrooms, including an owners suite with a huge Toor-to-ceiling closet. The lower level has 8 ft ceilings, a fully equipped kitchen, a large bedroom, a full bath, and a separate entrance perfect as a Texible living area for yourself or used as an income-generating rental. The fenced-in private back deck and patio are great for grilling and entertaining! Walk to two Green Line Metro stations (Columbia Heights & U St./Cardozo) as well as the nearby Whole Foods and other establishments that offer endless options of restaurants, gourmet coffee, and grocery shopping. Did I mention that Whole Foods and the U Street Corridor are just a 13-minute walk! This location can't be beat!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
10
Comparative Market Analysis
726 Gresham Pl Nw
764 Gresham Place Northwest, Washington, District of Columbia 20001 Washington, DC 20001
$874,900 CLOSED
6/25/21
4 Beds 3.0/0 Baths Year Built 1910
MLS #DCDC521988 1,384 Sq. Ft. ($632 / sqft) Days on market: 7
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
11
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
765 Gresham Pl Nw
Washington, DC 20001
$849,000 PENDING
4 Beds 3.0/0 Baths Year Built 1910
10/6/21
MLS #DCDC2012666 1,202 Sq. Ft. ($706 / sqft) Days on market: 9
Details Prop Type: Single Family Residence
Full baths: 3.0 Acres: 0.03
Updated: Sep 16, 2021 6:07 PM
County: WASHINGTON
Lot Size: 1,375
List Price: $849,000
Subdivision: COLUMBIA HEIGHTS
List date: 9/8/21
Orig list price: $849,000
Off-market date: 9/16/21
Taxes: $5,310
Above Grade Finished Area Source: Estimated
Below Grade Finished Area Units: Square Feet
Levels: 3
Above Grade Finished Area Units: Square Feet
Construction Materials: Brick
Lot Size Source: Assessor
Tax Year: 2020
Accessibility Features: None
Cooling: None
Lot Size Units: Square Feet
Virtual Tour: View
Basement: Fully Finished
Cooling Fuel: Electric Foundation Details: Concrete Perimeter
Special Listing Conditions: Standard
Water Source: Public
Below Grade Finished Area: 547 Below Grade Finished Area Source: Estimated
Heating: Forced Air
Sewer: Public Sewer
Heating Fuel: Electric
Soil Types: Urban LandSassafras-Chillum
Style: ["Traditional"]
School District: DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Features
Hot Water: Natural Gas
Living Area Source: Estimated
Structure Type: Twin/SemiDetached Tax Lot: 322
Zoning: RF1
Senior Community Yn: false
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
12
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
Remarks Historic charm and modern Snishes welcome you at 765 Gresham Pl. Meticulously rebuilt, this residence embodies modern comfort while still embracing its historic past. Situated on the edge of Columbia Heights between Sherman and Georgia Ave, this home is close to everything U St and Columbia Heights have to offer but is tucked away on a quiet, oneway street. With four bedrooms and three bathrooms across three levels and 1900 square feet of living space, there is plenty of room to spread out. The traditional layout of the main level provides clear dining and relaxing spaces while the front and rear porches are perfect for entertaining or just enjoying a cup of coffee. A seven-zone heating/cooling system and heated tile Toor in the basement means you will always be cozy.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
13
Comparative Market Analysis
765 Gresham Pl Nw
764 Gresham Place Northwest, Washington, District of Columbia 20001 Washington, DC 20001
$849,000 PENDING
10/6/21
4 Beds 3.0/0 Baths Year Built 1910
MLS #DCDC2012666 1,202 Sq. Ft. ($706 / sqft) Days on market: 9
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
14
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
764 Gresham Pl Nw
Washington, DC 20001
$850,000 CANCELED
3 Beds 3.0/0 Baths Year Built 1910
10/20/21
MLS #DCDC2017574 1,384 Sq. Ft. ($614 / sqft) Days on market: 14
Details Prop Type: Single Family Residence
Full baths: 3.0 Acres: 0.03
Updated: Nov 23, 2021 11:32 AM
County: WASHINGTON
Lot Size: 1,375
List Price: $850,000
Subdivision: COLUMBIA HEIGHTS
List date: 10/20/21
Orig list price: $850,000
Off-market date: 11/2/21
Taxes: $5,128
Above Grade Finished Area Source: Assessor
Below Grade Finished Area: 692
Hot Water: Natural Gas
Lot Size Units: Square Feet
Above Grade Finished Area Units: Square Feet
Below Grade Finished Area Source: Estimated
Patio And Porch Features: Patio(s), Porch(es)
Accessibility Features: None
Below Grade Finished Area Units: Square Feet
Interior Features: Combination Dining/Living, Dining Area, Floor Plan Open, Tub Shower, Stall Shower, Upgraded Countertops
Style: ["Federal"]
School District: DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Features
Appliances: Built-In Microwave, Dishwasher, Disposal, Oven/Range - Gas, Refrigerator, Stainless Steel Appliances, Washer/Dryer Stacked Basement: Fully Finished
Construction Materials: Brick Cooling: Ductless/Mini-Split
Laundry Type: Basement, Dryer In Unit, Washer In Unit
Special Listing Conditions: Standard Security Features: Security System, Monitored Senior Community Yn: false
Levels: 3
Sewer: Public Sewer
Foundation Details: Other
Living Area Source: Estimated
Soil Types: Urban Land Not Rated
Heating: Other
Lot Size Source: Assessor
Structure Type: Twin/SemiDetached
Cooling Fuel: Other
Heating Fuel: Electric
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
15
Comparative Market Analysis
Tax Year: 2020
764 Gresham Place Northwest, Washington, District of Columbia 20001
Water Source: Public
Year Built Effective: 2020
Zoning: PUBLIC RECORD
Remarks This is one not to miss! Completely renovated, this lovely semi-detached rowhome offers oodles of space inside and out, and is situated in one of the most vibrant neighborhoods in the city. Welcoming wraparound front porch and charming bay window. From the foyer, enter into the expansive main Toor with ample room to entertain in style. The open kitchen will delight your inner chef with gas cooking, upgraded cabinetry and countertops, and high-end Samsung appliances. From the kitchen step out onto your large private patio, the ideal spot for lounging on a sunny afternoon or hosting intimate al fresco dinners with friends. A full bath completes this main level. Upstairs, your oasis awaits with three sunny bedrooms and the luxurious hall bath. The waterproofed, walkout lower level features a separate side entrance, kitchenette, full bath, and three Texible spaces perfect for a variety of uses such as a home oUce, guest suite, or Stness studio. Ductless minisplit system provides the ultimate in eUcient heating and cooling throughout the home. Roof is approximately two years old and front side original slate roof restored; new gutters on the rear and new downspouts. Zoned street parking on one side and unmetered parking on the other. Unbeatable location just steps to neighborhood favorites such as Harrar Coffee & Roastery, Wonderland, and Capa Tosta. Easy access to the shopping/dining/entertainment amenities along U St, and just a 10-minute stroll to the Columbia Heights metro (green/yellow lines) as well as the new Whole Foods on Florida Ave.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
16
Analysis
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
Comparable Property Statistics S
2 Sold Listings LOWEST
$710,000
P
AVERAGE
$792,450
$874,900
AVG PRICE / SQFT
AVG DOM
$539
10
AVG PRICE / SQFT
AVG DOM
$706
9
AVG PRICE / SQFT
AVG DOM
$614
14
1 Pending Listings LOWEST
$849,000
C
HIGH
AVERAGE
$849,000
HIGH
$849,000
1 Cancelled Listings LOWEST
$850,000
AVERAGE
$850,000
HIGH
$850,000
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
18
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
Sold Property Analysis Averages
99.1%
Homes sold for an average of 99.1% of their list price.
10
Days on market
It took an average of 10 days for a home to sell.
Analysis ADDRESS
ORIG LIST PRICE
SOLD PRICE
% OF ORIG LIST PRICE
DOM
$ PER SQFT
736 Gresham Pl Nw
$725,000
$710,000
97.93%
13
$447
726 Gresham Pl Nw
$874,900
$874,900
100.00%
7
$632
$799,950
$792,450
99.06%
10
$539
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
19
Comparative Market Analysis
764 Gresham Place Northwest, Washington, District of Columbia 20001
The Value of Your Home In a neighborhood of similar homes, why is one worth more than another? That's the question that's teased buyers and sellers for ages, but the answer is simple. Every home is different When a home is sold, a willing seller and a willing buyer determine the value of that home with the sale price. That price then becomes a benchmark for other similar homes, but other factors come into play. The most important are:
Location The closer a home is to jobs, parks, transportation, schools, and community services, the more desirable it is.
Size Square footage impacts home value because a larger home is built using more materials, and gives the homeowner more usable space. And a larger lot size could mean more privacy than a smaller one.
Number of bedrooms and baths Additional bedrooms and bathrooms raise the value of a home compared to similar homes that do not have those rooms.
Features and =nishes Features such as outdoor kitchens and spa baths make a home more luxurious. A home Snished with hardwood Toors and granite countertops is going to cost more than a home with carpet and laminate countertops.
Condition The closer a home is to new construction, the more it will retain its value. It's perceived as more modern, up to date, and perhaps safer. Homes that are not updated or in poor repair sell for less as purchasers' factor in the cost of updating and eventually replacing appliances and systems.
Curb appeal From the street, the home looks clean, fresh, and inviting. Fresh landscaping and Towers won't change the size or location, but they certainly add charm. When two homes are identical in the same neighborhood, a higher price may come down to something as simple as views, paint colors, or the overall taste of the homeowner.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
20