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!!!
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!
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!