500 L St NE, House Pick of the Week
Check out today’s Cribline House Pick of the Week, a spacious four (4) level, six (6) bedroom, five and a half (5.5) bathroom row home with elevator located at 500 L St NE near the H Street Corridor.
The many features include three (3) secure parking spots, great location near NY/Gallaudet Metro, Union Market and the 100% free H Street Trolley; light filled gourmet eat-in kitchen; separate living/dining/sitting area with balcony; gleaming hardwood floors and finished basement apartment with a 2nd kitchen. two (2) sets of washer/dryers and separate meters so you could easily rent out the lower level unit to a tenant or via HomeShare.
500 L St NE is just on the market for $1,499,999. See how much this will cost per month in the Cribline math analysis below:
Cribline Math Analysis:
With 20 percent down on $4,900,000 of $299,999, the mortgage amount would be $1,200,000. At an estimated 4 percent interest rate fixed for 30 years the gross payment would be about $6,500 per month. If you were to rent out the basement apartment to a tenant for $1,000 per month, or net a similar figure on Homeshare via short-term rental websites like Airbnb, HomeAway, VRBO, FlipKey, or Trip Advisor rentals, that would reduce the gross payment to $5,500 per month. After tax deductions, the net payment would be about $4,900 per month.
Happy House Hunting at 500 L St NE !