First Cribline Investment House Pick of the Week for October 2017! Check out this brilliantly renovated contemporary Columbia Heights row home, located at 1023 Otis Place NW, with a fantastic starting price and a finished lower level apartment that could bring in some major additional cash each month in rental revenue to make the price even sweeter.
This four (4) bedroom, three-and-a-half (3.5) bathroom Columbia Heights row boasts over fourteen hundred (1,400) square feet of livable space and features an open concept main level with top of the line appliances; gourmet kitchen with over-sized island and stainless-steel appliances; tasteful exposed brick surfaces throughout; beautiful back yard; secure parking for two (2) cars in detached garage, and tons of extra space for entertaining, plus its location boasts a Walk Score of 92! What else could you want?
It’s just on the market for $989,000. See how much this will cost per month in the Cribline math analysis below:
Cribline Math Analysis:
With 20 percent down on $989,000 of $197,800, the mortgage amount would be $791,200. At an estimated 4 percent interest rate fixed for 30 years the gross payment would be about $4,700 per month. If you were to rent out the lower level apartment for $1,000 per month, that would reduce the gross payment to $3,700 per month. After tax deductions, the net payment would be about $2,600 per month.
Happy Hunting for Contemporary Columbia Heights row homes!