Monday, January 13, 2014

Follow-up: 1002 M St NW

This blog was started sometime back in 2007 by Ed. I inherited it in 2010 and so far have done very little since then. There are some links and posts regarding some properties that were blights and eyesores at one point in history, that are now a part of the fabric of the neighborhood. In the right column there are addresses that I'll take a quick look-see to discover if those properties have joined the ranks of the normal properties or remain blights of the street.

Today I looked at 1002 M St., NW. It was featured by Ed May 23, 2007. It was a Class 3 then later Class 1, vacant property in 2007. Today it is a set of 4 condo units with 3 of those owners receiving the homestead deduction. What this means is this former vacant property has become a home to about four households, who in addition to paying property tax add to the income tax rolls as well.

According to Redfin, the first unit was listed in July and sold in August 2012 for $529,999. Looking at the other units, they were sold either in July or September in 2012 between $449.9K and $630K. The building was converted to condos in 2011, which I'll guess the building was renovated in 2011-2012 and made available for sale.

This is what I hope can happen to many units featured here. That the vacant rate taxes or other incentives will get owners of vacant properties get inspired to make them occupied dwellings once again. So with this I remove "1002 M St, NW" from the column and add the tag 'occupied' to this address.

No comments: