Contemporary Col Heights Row, Great Investment
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!