Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-10
CHEAPER TO BUY NOW
Delay in Avenue Purchase
Means Larger Prices.
STEADY UPWARD TENDENCY
Analysis of Values of Property
Found in Square ESQ.
SALES IN RECENT YEARS
Quoted Figures Largely in Excess Of
fhos, Obtained From the Access
ment Basis Of Calculation.
STEADY UPWARD TENDENCY
SALES IN RECENT YEARS


Stars serial Buy Now or Pay More
Later Each installment sets forth
clearly the necessity Of early purchase by
the government of the land lying along
the south side of Pennsylvania avenue
from the Botanic Garden to 18th street. as
provided by the Hepburn bill. The sec
ton discussed today Is square 2I6. which
lies between D and f streets and 18th and
1872 streets. The most conspicuous as well
as the most valuable building in the
square is that of the Southern Railway
Company at the corner of 18th and Penn
sylvania avenue. This square contains
46, 034 square feet. assessed at $14I.SJ6. or
about s321 a foot for the ground alone
and $173sO0 for the improvements. or
about $3.50 foot for both ground and
improvements. If. under the method pur-
sued in assessing the property. according
to popular belief. this amount be two
thirds of its value. the ground and i'm
provements are worth about $lS2. iS4. or
$1O.4S a foot. and the ground alone S22l,-
7S4. or about S4.S2 foot.
The Southern Railway Company is not
disposed to set value upon its property
for publication. Its holdings comprise, &C
cording to the tax assessors records. H.
81 square feet, assessed at S63.&s. or
about $3.50 a foot. and improvements as
and improvements $685. 99S. or about 1881
a foot. If this is assumed to be two
thirds of the real value. the property is
worth S290,WI. or about $19.91 an average
square foot. for both ground and improve
ments. Although the block of property
comprises nearly one-third of the entire
area Of the square. it manifestly cannot
be used as a basis for calculating the
value Of the whole square. because the
improvements are assessed at more than
no Inc S,f
condition certainly does not exist In the
remainder of the square.
Sales in Recent Years.
There have been one or two sales re-
ported in recent years. however. which
may afford some idea OF the real worth of
this square 1t Is said that within less
than three years three lots aggregating
2.417 square feet. assessed at $4.434, or
about 81 .S31z a foot, for the ground alone.
and &c. 34. or about $3.50 foot. for both
ground and improvements. were sold for
Sal 900. or at the rate of about $16.96
foot The purchaser has not been willing
to set q value upon this property. 1t is
also reported that within three years a
second piece Of property aggregating LIZA
square feet, assessed at $4.93O or about
$4.25 a foot. was sold for SIS. 500 or at the
rate Of about $15.75 FOOT The real value
OF tnlS properly, assuming the ASSESS
ment to have been made at two-thirds
thereof, would be $40. 1So, or about $S.671s
q foot.
A third sale, made within two months. o.
q lot containing 1.640 square feet, as
sessed at So, 116, or about $19O a foot for
the ground alone. and $1,000 for the i'm
provements. making $4.316. or about $2.d
a foot for both. Melted the seller $12.5OO
or at the rate of about 1872 a foot, and
this is said to have been an advance of
tn h., o1,,n 80 xl4 uf~
the former owner bought 1t six years ago.
Upon the two-thirds assessment valuation
basis. the real worth of the property
would be $4.674 for the ground, or about
$2.So loot. and 81. 800 for the improve
ments, making $6.474. or about $685. for
both. Here, as in the other squares dis
cussed. there is a wide variance of opin-
ion on the part of the owners as to the
value of their several properties. One
owner. whose lot contains S33 square
feet, assessed at 81 .666, or 81 a foot for
the ground. and $500 for the improve
ments. making 81, 466. or $2.96 a foot (real
value. upon the twO-third assessment VAL
uation basis. 81. 400, or s. foot for the
ground. and 1853, or about 81 "A foot
Tor both ground and improvements,
values his property at $4,000, or at the
rate Of So foot
Some Sample Prices.
Another whose holding amounts to
1.63O square feet, assessed at $3.116 or
$3.50 a foot. for the ground. and 81 900
for the improvements. making s4.116. or
about $2.51 a foot. for both. values 1t at
$4,000. or about $12.19 a foot for both
ground and improvements. although it's
real worth under the two-thrds valuation
rule would be $4.674. or $2.85 a foot. for
the ground. and SOFIA, or about 1916 a
foot, for both. Still another who owns
1nfs aiming SQ1
sessed at 1886. or S2.75 a. foot for the
ground. and $500 for the Improvements.
making $14. 1885, or about $514 foot for
both. asks $4,000 for the property. which.
valued by the two-thirds assessment val
uation basis. would be worth but $11 ,3O4,
or $4.O5 COR the ground. or $21.5O4. or
about $40 foot. for both. One whose
lot contains 2.3O2 feet assessed at So 2OS.
or 81 a foot, for the ground. and 50 OO)
for the improvements or s12 POS. or SIS. 20
a foot for both, wants SIS, 600 or at the