Cribline Sneak Peak – Full Renovation 3 bed/3bath in LeDroit Park

May 17, 2013 By Leave a Comment

Greetings Cribline readers!

Check out what just came on the market… this gem in LeDroit Park at 316 Elm Street, NW.  It’s a fully renovated Italianate 3 bedroom, 3 bath row house. It’s listed for $697,500.  And, when you see how the real estate math works below in To The Point Analysis, you may be shocked by how affordable it is compared to renting!!!

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This home has an open floor plan, central staircase, great modern kitchen, new wood floors, exposed brick, skylights, and recessed lighting.  It’s perfect for entertaining!

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There is also a private patio and possible parking.

To the Point Analysis: With 20 percent down on $697,500 of $139,500, the mortgage would be $558,000.  At an estimated 3.5 percent interest rate, the gross monthly mortgage would be about $3,000/mo.  After tax deductions the estimated net payment would be about $2,100.  Not to shabby when you compare it with what you might currently pay in rent!

Happy house hunting!

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Cribline Sneak Peek – Top Renovated 3 Bedroom, 2.5 Bath with Rental in Bloomingdale

April 9, 2013 By Leave a Comment

From the beginning of The Cribline there has been a natural flow… from the launch, the growth, meeting people during the weekly house tour, and getting the blog up and running.  Perhaps it’s because I love D.C. and real estate that things just fell into place.  It’s now been almost 2 years since my first blog post and today was another example of how the flow continues.  Let me introduce you to Mike Joyner, a local builder, long time BET senior employee, writer and all around renaissance man.  He was introduced to me by well known realtor and Cribline Approved Vendor Suzanne De Marais.

You can see the renaissance in Mike’s latest building project at 3 W Street, NW in Bloombingdale. It is truly a display of a labor of love. I walked in and immediately was captured by this porch front 3 bedroom, 2.5 bath Wardman row house with parking and a rental unit just minutes to the Capitol and downtown.

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The attention to detail was apparent everywhere.  The workmanship of the ceilings in the living and dining rooms, and kitchen, combined with the tile work, wainscoting, built-in spot for coats and hats when you first walk in the front door, and the refurbished original wood floors makes this home a clear stand-out from the competition.  And, there’s a basement apartment that is separately metered which as you will see makes this home unbelievably affordable (see the real estate math below).

This home also has all of the amenities including a chef’s kitchen with granite counters, stainless steel appliances and a pot filler faucet over the 5 burner cooktop stove.  There’s also a family room with floor to ceiling windows.  To top that off, there’s a built-in speaker system throughout, wiring for state-of-the-art stereo system, great storage, plenty of closets, an en-suite bath in the master bedroom, a Jack and Jill bathroom in between the other 2 bedrooms and a finished attic perfect to an office or children’s playroom.

This is quite the find, and thanks to word of mouth, The Cribline gets the first look as a Sneak Peek ahead of the first open house this Saturday and Sunday.  It’s listed for $799,950.

Take a look at what I’m talking about the attention to detail and design:IMG_5823Living/dining room
 IMG_5825Floor to ceiling windows in family room

IMG_5826Gourmet kitchen with island and bar

IMG_5827Built-in coat rack

IMG_5828Master bathroom double vanity

IMG_5829Master shower

IMG_5830Master bedroom

IMG_5832Stylish flooring for en-suite master bath

IMG_5833Half bath main floor

IMG_5837Rental full bath

IMG_5838Mud room area for rental unit

IMG_5839Living room/dining room for rental unit

IMG_5841Galley kitchen for rental unit

IMG_5844Bedroom in rental unit

To the Point Analysis: With 20 percent down on $799,950 ($159,990), the mortgage would be about $639,960.  At an estimated 3.75 percent 30 year fixed interest rate the estimated gross monthly payment would be about $3,630. With estimated rental income of about $2,000/mo, that lowers the gross mortgage payment to $1,630.  And, after the tax deductions the estimated net payment would be about $1,150/mo.  You’ll be hard pressed to find a room in a home to rent for this amount.

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Cribline Sneak Peek – Spectacular estate in Georgetown, nicer than many embassies

March 22, 2013 By Leave a Comment

Check out this stately home at 1607 28th Street, N.W. in Georgetown. It was originally part of the Evermay estate built in 1900, and now it is an exceptional detached Federal-style Victorian that includes all the amenities and is simply nicer than many embassies.1607_28th_Street_NW_23116_066 1607_28th_Street_NW_23116_009 1607_28th_Street_NW_23116_046 1607_28th_Street_NW_23116_040 1607_28th_Street_NW_23116_076 1607_28th_Street_NW_23116_081 1607_28th_Street_NW_23116_086 1607_28th_Street_NW_23116_090

Impeccably renovated in 2007, this 6,600 square foot+ home has 8 bedrooms and 10 bathrooms, and natural light abounds.

Some highlights include a professional-grade kitchen, spa styled baths, dramatic floating staircase, elevator, wood-paneled billiard room, wine cellar and spectacular gardens. There is also a private garage and motor court parking. The full lot is over 13,000 square feet.  It’s listed for $14,250,000.

To the Point Analysis: Mortgages on homes in this price range have different requirements.  But, just to keep it consistent with general real estate math according to prior To the Point Analyses, with 20 percent down on of $2,850,000, the mortgage would be $11,400,000. At an estimated 4 percent interest rate the gross payment is going to be around $54,000/mo.  After tax deductions, the estimated net payment is about $38,000/mo.

Happy house hunting!!!

 

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Cribline Sneak Peek – A One of A Kind Robert Gurney Contemporary Row Home in the Heart of Dupont

March 22, 2013 By Leave a Comment

Take a look at this rare gem highlighting one of the best examples of contemporary architecture in D.C.  This 2,800 square foot renovated 3 bedroom, 3 bath row home at 2104 R Street, NW #5 is a rare renovation by renowned architect Robert Gurney who is know for his modern style.  The home was originally designed as an officers club in 1944.  It was converted into condominiums in 1990, and fully renovated by Gurney in 2007.Pat's House 9

The home impeccably blends indoor and outdoor living spaces. The main floor features 5” plank white oak floors that follow the arched footprint which encompasses a dramatic living and dining room.  Those rooms lead to a Bulthaup kitchen with Miele and Sub-Zero appliances, a bar and wine cellar.  The kitchen is anchored by a floor to ceiling doorway (one of several on the main floor) that leads to a generous sized outdoor oasis perfect for entertaining.Pat's House 1Pat's House 2

The second floor is dedicated to the master suite, complete with a spa bathroom including a Duravit Strack freestanding bathtub and a rainfall shower. There is also an attached dressing room with a Poliform custom closet and a spacious changing area.Pat's House 3Pat's House 6

The third level houses a spacious second bedroom and a full bathroom, and there’s a large den with built-in media cabinetry, a wet bar, and a roof top patio.Pat's House 8

The bright lower level features a third bedroom with a movable wall and custom murphy bed that allow the space to instantly transform into a den adjacent to the home office with built-in desk and bookshelves. There is also a third full bathroom.

You really have to see it to appreciate the thought that went into this home!  It truly is one of a kind!  It’s listed for $2,995,000.

To the Point Analysis:  With 20 percent down of about $599,000, the mortgage would be about $2,395,000. At an estimated 4 percent interest rate, the monthly gross payment would be about $13,950/mo. After tax deductions the estimated net payment would be about $$9,800/mo.

Happy house hunting!

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Cribline Sneak Peek – This Home in Bloomingdale May be the Deal of the Year!

March 2, 2013 By Leave a Comment
Greetings Cribline readers:
Check out 2216 North Capitol St. NW.  This 3 bedroom, 2.5 bath fully renovated porch front row home (2005) is one of the best finds recently for the Cribline’s Sneak Peak.  Get a jump on the home that has just come on the market in Bloomingdale.
We just got the tip this morning about an hour ago.  This home is in excellent shape and it has a basement rental unit with a Certificate of Occupancy.  It’s listed for $595,000. 
The details:
  • Upper two levels: 3 bedrooms, 2.5 baths, plus bonus loft above master bedroom
  • Lower level: 1 bedroom, 1 full bath
  • Separately metered electric
  • Certificate of Occupancy available
  • Stainless steel appliances & open layout kitchens in both units
  • Wood floors in upper unit
  • Washer/dryer in each unit
  • Gas fireplace
  • Deck
  • Parking
  • Bloomingdale neighborhood.  Located within blocks of new restaurants, bakery, yoga studio, public transportation.

 

To the Point Analysis: With 20 percent down on $595,000 of about $119,000, the mortgage would be $476,000. At an estimated interest rate of about 3.5 percent (the rates just went back down) the estimated gross payment would be $2,633.29.  We estimate the rental unit to bring in about $1,600/mo. dropping the mortgage down to about $1,000 gross per month.  After the tax deductions we estimate a final net payment of about $300/mo.  Now, that may be the deal of the year!!!

Happy house hunting and visit us Monday for the House Pick of the Week.

 

 

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Cribline Sneak Peak – Monday, September 24, 2012

September 24, 2012 By Leave a Comment

Dear Cribline readers:

Occassionally, we’ll get a head start on a property before it’s open to the public, and if it meets certain criteria by The Cribline, we’ll feature it as part of our Sneak Peak section of the blog.  The idea is to give you a jump on a hot property.

Today, we learned about 1613 Gales Street, NE on Capitol Hill that is close to the bustling H Street arts district and the new trolley that is coming that will link this neighborhood even more easily to downtown!

This newly renovated home has a lot of light, and features 2 bedrooms and 2.5 baths.  The open floor plan also has a modern kitchen that leads to a deck and slated patio area.  The floors are stunning with golden teak hardwoods.  Other amenities include an intercom and music system, security, new electrical, and plumbing & HVAC systems. 

To the Point Analysis:

With 20 percent down on $429,000, that would be about $86,000 and leave a mortgage of $343,000.  At an estimated 3.5 percent interest rate for a 30 year fixed rate, the estimated gross payment would be about $1,830/mo.  After the tax deductions, the estimated net payment would be about $1,350/mo.  That’s what some rooms in houses are going for on Capitol Hill.

Happy house hunting!

 

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The Cribline’s Sneak Peak – Wednesday September 19, 2012

September 19, 2012 By Leave a Comment

Dear Cribline readers:

I just received a hot tip on a great property that just came on the market.  Check out 1816 5th Street, NW.  It’s a hot 2 bedroom, 2 bath open floor plan condo in the exploding Shaw neighborhood listed for $499,000.  It’s features an open floor plan, beautiful hard wood floors, and a kitchen with stainless steel appliances and granite counters.  

It’s close to new shops and some of the best neighborhood restaurants in the city.  The METRO is 2 blocks away.

 

To the Point Analysis:

With 20 percent down of about $99,000, the mortgage would be $400,000.  Mortgages under $417,000 allow for a conventional loan and the best interest rates.  At an estimated 3.5 percent 30 year fixed rate that would be a gross payment of about  $1,539/mo.  After estimated tax deductions, the net payment would be less than $1,100/mo.  The condo fee is about $300/mo.  This is a find!  

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The Cribline Sneak Peek – The Best in Green Building (Columbia Heights)

June 22, 2012 By Leave a Comment

If you’re looking for a boutique condo in a 3 unit brand new fully renovated Victorian in DC, check out this Cribline Sneak Peek at 1120 Euclid Street NW.

These residences are located in a fully restored early 1900 Victorian rowhouse in Columbia Heights.  Each unit has 2 bedrooms and 2 baths. This building is set on a large corner lot and is conveniently located just a few blocks from DCUSA – a nearly million square foot retail development in the neighborhood – providing a real benefit that only urban living can provide.

Unit 1 – $499,000     Unit 2 – $675,000     Unit 3 – $759,000 (Penthouse)

The residences range from 1200+ to 1900+ square feet, have 9 foot ceilings, recessed lighting, walk-in closets with customized shelving, and energy efficient systems. This is also some of the best in “green building” with Energy Star Windows, eco-friendly hardwood floors, superior insulation.

The ultra modern kitchens feature custom cabinets, Italian white marble counters, and stainless appliances. And, the baths are equally elegant with Italian marble tile, custom cabinets with Italian white marble countertops, and designer vanities and faucets.

Each unit has a private deck or patio space for entertaining, parking is included, and the units are close to Columbia Heights metro, U Street Corridor and U Street metro. Parking is included in the price.

To the Point Analysis: 

Unit 1 – $499,000.  With 20 percent down of about $100,000, the mortgage amount would be about $400,000.  At an estimated 3.75 percent interest rate (since this would be a conventional mortgage – below $417,000), we calculate a gross payment of $2550/mo.  and after tax deductions a net payment of about $1850/mo.

Unit 2 – $675,000. With 20 percent down of about $135,000, the mortgage would be $540,000. At an estimated 4 percent interest rate we calculate a gross payment of about $3,450, and after tax deductions a final net payment of about $2,450.

Unit 3 (Penthouse) – $759,000. With 20 percent down of about $150,000, the mortgage would be about $609,000. At an estimated 4 percent interest rate we calculate a gross payment of $3,950/mo, and after tax deductions a final net payment of about $2,900/mo.  

For more info contact info@luxurydc.com

The Sneak Peek is a response to Cribline readers who are looking to get ahead of the market and preview homes just as they come online, and particularly before there is an open house.

Happy house hunting!

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New Feature: Sneak Peek of the Week

June 21, 2012 By Leave a Comment

We’ve come to realize the DC housing market may not be slowing down anytime soon. And thanks to many of you, we’ve decided to offer a new feature—a sneak peek. The Cribline Sneak Peek of the Week will feature great properties on the market before an open house is held. We hope this feature will help readers searching for a new home find a great house in one of the hottest real estate markets in the country.

 

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Cribline Sneak Peek – Historic 3 bedroom, 3 bath in Logan for Less than studio apartment

June 5, 2012 By Leave a Comment

Dear Cribline readers:

Check out this impressive 4 story historic Victorian townhome on one of Logan Circle’s premier streets at 1306 Riggs Street, NW that just came on the market for $875,000.

This home has many great features. On the main floor there is a dramatic entry that leads to a delightful living and dining room separated by pocket doors, and there is a spacious kitchen that leads to a multi-tiered deck.

The second floor includes the master bedroom with an en-suite master bath, another bedroom and bath, and a family room or 3rd bedroom.

There is also a recently restored street level studio apartment that The Cribline estimates could rent for as much at $1600/mo. which would cover the cost of about half of the listing price (check out the analysis below).

To the Point Analysis: If you were to put down 20 percent or $175,000, then you would have a mortgage of $700,000.  At an estimated 4 percent interest rate, we estimate a gross monthly payment of about $4070/mo.  After deducting the rental income for the basement unit of $1,600/mo. that brings the payment amount down to $2,470, and after the tax deductions, we estimate a final net payment of about $1,450/mo.  That’s less than the rental income from the basement unit.  This is a find!

Happy house hunting!

 

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