1227 First Street NW
Okay, once again because all the cool kids are doing it, another vacant house. This also has been bought this year, so the pitiful state that it is in *might* not the new owner, Ms. M. B. Jackson's fault. Ms. Jackson of McClean, VA acquired the house in May 2007 for an unknown amount. The unknown makes me wonder if it was a transfer, tax sale foreclosure, or something else. According to the DC.Gov tax assessment site, the place is assessed at $248,570, for 2007, and will go up to $296,570. The $570.00 at the end of both prices make me wonder if the assessor just decided, "OK, add $48K, viola!" Anywho, there is an interesting "Special Assessment" dated 7/30/2004 and 12/13/2007 for $62,213.03. I wonder what that's all about.
It was built sometime during the turn of the century, as the DC government lists it as being built in 1900, which means they have no clue. My census of 1900 notes aren't revealing any residents of the 1200 block of 1st, and my maps (which I admit neglects the Hanover/MVSQ crossover area of the TC) don't show anything, so I have no clue either.
posted by Mari @ 20.12.07
11 Comments:
Thank you for calling attention to this property.
Do you know who owns the vacant lot adjacent to the brick shell? (To the left in this photo) Given all the "NOMA" buzz, and the fact that NOMA is a short walk from this location, you'd think that this location will be "desirable" by 2010.
Well whaddya know, Ms. Jackson owns the lot (1237 1st Street, NW) too! Lucky girl, wonder what she's going to do with it?
Like 1227 1st St NW, she acquired it in May of this year for an unknown amount. It's current value according to the tax assessor is $47,520...... That's kind of low, considering it is quite large, and my tiny lot under my house is valued over $200K.
As far as desirable goes, who knows. We are currently in a downturn. Maybe Ms. Jackson may rehab the vacant structure and put in a nice garden on the side. Or she may just hold on waiting for the next cycle when it becomes a seller's market.
vacant lots are chronically underassessed. i suspect that special assessment is for DC securing the building. the red paint on the boards looks like what DCRA used to use. now they tack on plain plywood or if they are supremely lazy, a 2x4.
Suppose Ms Jackson doesn't want to do a crackhead renovation. She discusses the project with a few architects. The good architects tell her they have 3 months' of backlog. She needs the architectural blueprints to get construction and mechanical permits. There is a long delay: 3 months (waiting for the architect) + serveral months (while the architect works on her design) + 10 weeks (while the permits are being reviewed), even assuming all the permits are approved right away. I don't see how she could do this much faster, even if she had a pile of cash sitting in her bank.
I pick the places based on walking by and going "oh, run down vacant house" not based on the owner, which I don't know until I sit down and look it up. So these are not to pick on the new owners but to have a better idea of what's going on with these places.
The unknown transfer amount along with that $62K "special assessment" are concerns. There could be some title problems, if the transfer wasn't cut and dry, which would be a deterrent to invest in the property and just sit.
We don't know what Ms. Jackson intends. The size of the lot added to the house and it's proximity to a new condo building (across the street) makes me wonder if she might be packaging it as a large project for a developer. Her plans might be more modest and just fix up a house and have a lovely garden. We won't know until a good year or so has passed. If nothing occurs with any of these properties for a year or more, experience hints that these places may add to the challenges of the block.
I also heard a rumor that if you buy a place for, say, $160,000 that's been assessed (for 2008) at $296,570, then you can protest your taxes and say that it's worth $160,000. Thoughts?
Then the assessor laughs in your face...
My neighbors had challenged their assessment of 1/2 a mil, when they only paid a 1/4 mil, the year they bought it. They still had to pay for the $500K assessment, but the next year it went down to a 'reasonable' rate. Also, nothing similiar ever sold for 1/2 a mil on our block, so it was provable.
the permit process is HORRIBLE. Ms. Jackson wont be able to get permits unless she hires an "expediter"...but thats only the beginning. There's a whole series of inspections (when they feel like showing up.)
but I hope she tries & isnt just another land banker.
The house and lot were up for sale in 2005 but was owned by a family who got in a dispute. THe sale etc were postponed until the fmaily could work out who owned what. The house next door is owned by Mike Theim, who was very active in the hood, like when Sursum was going to be "moved" to the park across the street. He also had a lot of the trash in this shell's yard hauled away at his own expense and last I talked to him, he had had enough and moved to NOVA. But I think he still owns it. I wouldn't hold out any hopes that this propoerty is oging to be developed anytime soon. But the identical empty lot right across the street was turned into nice condos that they couldnt sell, and are now rented.
The taxable assessment is $0.00!
Listed as occupied by OTR. Though originally listed as vacant by DCRA in 2002.
Don't bother with that 0.00 assessment, everyone has it. That's why I didn't bother mentioning it.
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