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The Cribline House Pick of the Week – January 22, 2012 | Real Estate

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The Cribline House Pick of the Week – January 22, 2012
Real Estate
The Cribline House Pick of the Week – January 22, 2012

Greetings Cribline readers:

This week The Cribline began its tour in Dupont Circle which continued through Logan Circle, then onto Penn Quarter, and ending up on Capitol Hill.

This week, there is of course only one “pick,” but there are 2 noteworthy homes that will be included in the post as “honorable mentions” that we encourage you to take a look at.

So, for the house pick of the week, we have selected 414 10th Street, SE.  It’s listed for $797,500. This classic Victorian row home is LOCATION LOCATION LOCATION!

It’s steps to Eastern Market and the many hot restaurants and shops on 8th Street (the original downtown Washington).  Its features include an open living and dining room, an eat-in kitchen that leads to a back deck, yard and garage for 2 cars.  On the top floor, there are 3 bedrooms with large closets and built-in book cases.

It also has a large ground level one-bedroom English basement with a fireplace.

Check out the to the point analysis…

To the Point Analysis:

At $797,500, 20 percent down would be $159,500 making the loan amount under this scenario $638,000. 

At around 4 percent interest on a 30 year fixed rate mortgage the monthly gross payment would be right around $3,900/mo.  The Cribline estimates the rent for the English basement to be around $1,600/mo reducing the monthly payment to $2,300.  After the tax write offs for mortgage interest and property taxes, The Cribline estimates a final net payment to be about $1,600/mo.  That’s the same as the one bedroom basement apartment. Now that’s a deal!

There are 2 honorable mentions this week.

The first is 1632 S Street, NW #31. This is a classic Wardman penthouse apartment for $1,100,000.  If you’re looking for all the bells and whistles in Dupont Circle including parking, a roof deck, custom chef’s kitchen and state of the art bathrooms, this is for you.  We’ve seen nothing like it before. And, it’s in the heart of Dupont.  It’s a rare find.

And, also check out 1841 12 St, NW.  This is also a rare find. It’s  a 3-level Victorian with 3 bedrooms and 2.5 baths right in the heart of Logan Circle.  This restored home has many original architectural features including a bay window, pocket doors, plaster moldings, and wide plank floors. It also balances the historic tradition with a state of the art kitchen and bathrooms.  This home also has a roof deck and parking for 2 cars and is one block away from the metro.  It’s listed at $839,000.

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