Possibilities Abound in Bloomingale Row House
Another fantastic Bloomingdale Row House for under $1M! Located at 1835 1st St. NW, on a rapidly developing corridor of a great neighborhood, this property is a no-brainer for our Cribline House Pick of the Week.
This Row House features nearly nineteen hundred (1,900) square feet of livable space, three (3) bedrooms, three-and-a-half (3.5) bathrooms, and in-law-suite, however, possibilities abound for this unique property, outside of traditional short term and long term rentals. It could very easily be transformed into a small business, restaurant, home-office- or leased to another business owner given- its stellar location. The address boasts a Walk Score of 92. The house has great bones; you could do anything.
It’s just on the market for $939,000. See how much this will cost per month in the Cribline math analysis below:
Cribline Math Analysis:
With 20 percent down on $939,000 of $187,800, the mortgage amount would be $751,200. At an estimated 4 percent interest rate fixed for 30 years the gross payment would be about $4,500 per month. If you did not want to convert the property into commercial space, you could very easily rent out the in-law-suite as is to a tenant for $3,200 per month- or net a comparable amount through short term rentals like Airbnb or HomeAway, that would reduce the gross payment to $3,200 per month. After tax deductions, the net payment would be about $2,250 per month.
Bloomingdale Row House Hunting!