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The Cribline House Pick of the Week - December 18, 2011 | Real Estate

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The Cribline House Pick of the Week - December 18, 2011
Real Estate
The Cribline House Pick of the Week - December 18, 2011

Seasons Greetings Cribline readers:

The Cribline tour began in Kalorama where I picked up my friend and professional photographer Liz Lynch who joined us again this week.

Our first stop was Dupont Circle, then up 16th Street by Carter Barron and Rock Creek Park, then over to Brookland, Bloomingdale, and finally LeDroit Park.

The House Pick of the Week is a brand new restored wide row house in LeDroit Park321 T Street, NW (video link) listed for $774,900.

This 4 bedroom, 3.5 bath home is on one of the most aesthetically beautiful streets in Washington just steps from Anna J. Cooper Circle.

This is a spacious home featuring great wood floors throughout, a chef’s modern kitchen with granite and stainless steel appliances, a finished basement with a wet bar, plus a bedroom and bath that could be easily turned into an in-law suite.

To the Point Analysis:

With 20 percent down of about $156,000, that leaves a balance of $623,000 to be financed.  For a 30 year mortgage at around 4 percent, The Cribline estimates a total gross monthly payment of around $3,000/mo.

After the tax deduction of the mortgage interest and property taxes, The Cribline estimates a net monthly payment to be around $2,100/mo.  If the buyer wanted to rent out the basement, we estimate a conservative income amount of around $1,500/mo. cutting the gross monthly payment in half, and after the tax benefits we estimate a final net payment under this scenario to be just over $1,000/mo.

 

There is one honorable mention this week. It’s a freshly restored grand 5 bedroom, 6 bath home with about 5,600 square feet in the heart of Dupont Circle at 2126 R Street, NW listed for $3,490,000.  This was the first open house and it is stunning!

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