1794 Wheat Row House Cuts Price to $1.15M — A Historic Fixer in DC’s Waterfront

A rare piece of early Washington hits the real estate USA market

In the churn of the real estate USA market, a house built in 1794 is back for sale — and its price was just trimmed by $150,000 to $1.15 million. That headline number is attention-grabbing, but the story behind the brick, moldings, and seven fireplaces requires close reading if you are a buyer, investor, or expat considering Washington, DC property.

We visited the facts, spoke with the listing agent quoted in the primary coverage, and put together practical guidance for anyone weighing a purchase. This Wheat Row rowhouse is authentic colonial-era fabric wrapped in mid- and late-20th-century updates. It is attractive to people who want history underfoot; it is less appealing to buyers seeking a turnkey modern home.

Wheat Row: history that matters on paper and in practice

Wheat Row is among the earliest housing developments in the federal city. The group of rowhouses on 4th Street SW was built beginning in 1794 by developer James Greenleaf. The name Wheat Row comes from John Wheat, an early 19th-century resident. The collection is listed on the National Register of Historic Places and was incorporated into the Harbour Square cooperative during redevelopment in the 1960s.

Why this historical provenance matters to buyers and investors:

• Conservation rules: National Register listing and local historic district status often mean exterior changes and certain interior alterations are subject to review.
• Scarcity value: Original fabric from the 18th century is rare in DC; that can attract collectors, museums, or deep-pocketed buyers seeking authenticity.
• Complex maintenance: Historic materials and construction techniques require specialists and can increase renovation timelines and budgets.

If you prize provenance, Wheat Row is compelling. If you prize ease of renovation or a predictable cost curve, this property demands caution.

The house in numbers and on the plan

Key facts buyers should note right away:

• Asking price: $1.15 million (after a $150,000 reduction)
• Living area: 3,408 sq ft (about 317 sq m) across four floors
• Bedrooms and baths: 4 bedrooms, 4 full bathrooms plus a powder room
• Fireplaces: 7 original fireplaces
• Ceiling height: 12-foot ceilings on principal floors
• Elevator: Installed in 2005 with all-wood interior finish
• Last kitchen renovation: 1960s; listing agent estimates about $100,000 to modernize

The house is narrow and vertical, typical of 18th-century rowhouses. Tall ceilings and hardwood floors add spatial drama, but the internal layout is constrained by the original footprint and by the positioning of chimneys and fireplaces.

Interior condition: authentic features, mid-century systems

Walking through the house, you will encounter two competing messages. On the one hand, the interior keeps many colonial-era cues: handcrafted millwork, wooden moldings that the listing agent says could date to the 19th century or earlier, wide-plank floors, and period-style chandeliers. On the other hand, many working systems and finishes reflect later eras.

Practical observations for buyers and renovators:

• The kitchen was last updated in the 1960s. The agent’s guide estimate of $100,000 is a starting point that assumes a full modern fit-out; bespoke historic-style cabinetry or structural reconfiguration will cost more.
• Bathrooms have mid-20th-century fittings; expect another round of upgrades and possible plumbing work.
• Fireplaces are decorative and historic, but their chimneys and flues will need inspection if you plan to use them. Restoring and certifying fireplaces in historic homes can be expensive.
• The elevator, added in 2005, improves accessibility but introduces additional maintenance and inspection obligations.

Renovation reality: restoring original character while adding modern conveniences is a balancing act. A buyer who wants a contemporary kitchen and an open-plan living area will face layout constraints because rooms are organized around chimneys and fireplaces.

Costs, constraints, and financing — what investors must calculate

A building this old brings both upside and structural risk. From a value perspective, the $1.15M asking price must be compared to the cost of repair, the co-op rules, and the resale pool for historic co-op units.

Budget items to include in your due diligence:

• Professional inspections (structural, roofing, chimney, mechanical, elevator certificate)
• Historic-preservation consultation if exterior or character-defining interiors will be altered
• Kitchen modernization: estimated $100,000 (agent estimate)
• Bathroom updates: variable — expect $25,000–$75,000 depending on scope and historic fixtures
• Mechanical upgrades (HVAC, electrical, plumbing) if original or partly updated
• Contingency for hidden issues (rot, insect damage, lead paint, asbestos) — industry practice is 10–20% of renovation budget
• Co-op fees and assessments — mandatory recurring expense that impacts carrying cost

Financing considerations specific to co-ops and historic properties:

• This house is part of the Harbour Square co-op. Buying a co-op unit means you buy shares and sign a proprietary lease rather than a condo deed; mortgage qualification and loan products differ.
• Some lenders are cautious about historic buildings or co-op structures, and down-payment requirements can be higher.
• Insurance for historic properties can carry surcharges, and replacement-cost valuations must account for specialist craftsmen.

All together, a buyer should add realistic renovation and carrying costs to the purchase price to arrive at a true entry cost.

Harbour Square co-op, amenities and location dynamics

The Wheat Row units are integrated into the Harbour Square cooperative. That affects both lifestyle and ownership mechanics.

Shared amenities listed with the property include:

• Rooftop deck with water views
• Shared heated pool
• Gardens
• Fitness center

Location is a prominent selling point: the house sits minutes from the Southwest Waterfront and The Wharf, a redeveloped mixed-use neighborhood with restaurants, theaters, public piers, and offices. That access to amenity-rich, walkable urban life is a strong benefit.

Market context matters. The listing agent, Eric Stewart, notes that the Southwest DC housing market has felt pressure after a wave of job cuts last year, which has softened demand.