Evening star., 1908-01-26

the ground in square 22S Is now SloS,S34
Add to this the value Of the improvements
al the time Of the assessment and which
does not increase as does the value of the
ground and the present worth of the
property in tine square is S1S5.344 or about
500 an average foot This is one OF the
squares in which the rents derived from
the property do not III a majority OF cases
afford Il fair basis for determining the
real value of the property.
The sale o. the single lot mentioned Is
used for the purpose because it IS the
only aScertainable one made under prob
ably normal conditions during the past
year
Square rs is the one in which the
Emergency Hospital and engine house No
l. OF the fire department are located, and
these buildings. with what is known az
fhapman's s armory. where the quarternas-
ter of the National Guard has his head
quarters. constitute about the only build
ings Of consequence in the square.
Estimates of Owners.
Square 30 lies Immediately south of
square 22s. and is bounded BY 18th and
18th streets. Ohio avenue and { street In
il is located the Cyclorama building
which. with its brick annexes, is now
used as garage and an ironWorker 5
shop. one saloon, 4 little candy shop. i
few unpretentiouslook.n two-story brick
houses some frame shacks, and a stone
yard constitute the remainder OF the inn
proNements This square has an area 0i
42,6lf square feet, assessed in 1904 at SJI.
S3.;. for the ground. and S23,,ab for i'm
proVemcnts- Upon the wo-fhlrdS assess
ment valuation basis. the worth Of this
square in 1904 was SsG.150. or about 81 O.
an average square loot, for the ground
and So, $50 for the improvements. ITlk-
ing Sl226ts, approximately IN I'll. Tie
square is divided INTO six separate lots. -
shown by The present plat books. The
rental OF three of these ID.S covered by
the CyrIorama building and its auncNcs
containing - j5S square feet, represents 2
:, per cent investment on Ss0.WD NhicE
would fix the N1!Gr Of III" property. ~
JAat basis. ~ about S.a2 a square foot
The real values of he entire square, IN
Guiding the improvements. estimated dc
cordiug to Tie tWo-thjrds assessment basi:
valuation. IT, Sl22,oD, or about S2.SI -
average square foot The owners OF two
IT tie lots estimate their value 1T about =
foot. while tho owner of the remaining
lot which contains G,759 square feet, cstI
mates its value at about SO 4 square foot
Values Are Uncertain.
Tic last square on 18th street, befor,
tho Mall is reached is square go. which
Il bounded by f and & streets north anC
9Th and 18th streets west. III this snuar'
Is located a coal and wood yard the j
Edward Chapman building. 4 furnitur
4 factory. q carriage factory. IN o.i iumbr
+ yard ana certain dwellings. more or los
pretcutionS whose value is probl"maticai
\ The square has an area If l11.gs,i sdHar
I feet assessed in 1901 at l-s 1aN. or ahofI
i yln4 Il foot, making its valu" then. on TIL
i assessment valuation plan. about Siai ~
. ol approximately Sl-.f, a square foot ~
/ III" average. The improvements are -
stSScd al SJiA}9. with ! worth on TIA,
4 plan above mentioned for estimating .
about >S..:..Iu Tie value of both grouu,
was in l9"t S27".9l2. OF about S2.l al
/ average square foot
\ Eve Of the three -Stor. br5rt. dwelling
( on the & street side Of tho square Wer
originally sold hy their builder al an aver
age price OF $. $40 apiece. The other SIX
Il il is said erected about two Years ago
brought an average Of about S9.o30 apiece
/ They were estimated by their presen
| owners 10 be worth all the Way iron
sil,1oo to $1,000 apiece, though. il /
claimed. nothing has occurred since thei
erection 10 warrant SuCIl an Increase. n
improvements seem 10 have been made il
til" square or in the one opposite sine
the erection Of these houses. There la
4 heen no demand for them. ii Is said ex
c..pt for purposes other than those 70
which they are now used 1t may there
fore be fairly assumed that the suppose
enhancement in their value is due I,
speculation prompted by high rents
On a Different Footing.
The improv used for legltimat
business purposes. of course. stand on
different footing. The owner OF one o
cont, ir,iY1e lnSs.