It’s official. This week Obama and his family announced they will rent an upscale historic 1920’s mansion located at 2446 Belmont Rd NW in Washington’s Kalorama neighborhood, where they will neighbor up with local heavy hitters like Tony Podesta in this secluded and upscale area just blocks away from embassy row.
The 9 bedroom, 8.5 bathroom, 8,500 square foot mansion received an extensive renovation in 2011 and features everything a former president could want: historic charm, oversized lot, public rooms, exquisite finishes, fully finished lower level with an in-law suite, stunning oversized terrace, formal gardens, two car gar parking, and gated courtyard with room for an additional 8-10 vehicles.
Cribline Math Analysis:
With 20 percent down on $5,295,000 of $1,059,000, the mortgage amount would be $4,236,000. At an estimated 3.75% interest rate fixed for 30 years the gross payment would be about $24,000 per month. After tax deductions, the net payment would be about $16,800 per month.
Happy Presidential House Hunting!