Pre Civil War Farmhouse near Lincoln Park
It’s Friday! Time for one final Cribline House Pick of the Week, in one of our favorite areas of Capitol Hill, Lincoln Park, located at 223 12th St SE.
This Pre Civil War farmhouse boasts nearly 1800 square feet, two (2) bedrooms, one and a half (1.5) bathrooms, and abundant charm. Its other features include upgrades galore, a generous lot plus TWO CAR Off Street Parking! You’ll swoon over the table space in the kitchen with stainless steel appliances and quartz counters, mellow wood floors and tall windows. Bonus: thoughtfully finished lower level in-law suite with outside entrance and massive income potential. Great Curb Appeal! There are open houses this Saturday and Sunday from 1PM-3PM.
It’s just on the market for $899,000. See how much this will cost per month in the Cribline math analysis below:
Cribline Math Analysis:
With 20 percent down on $899,000 of $179,800, the mortgage amount would be $719,200. At an estimated 4 percent interest rate fixed for 30 years the gross payment would be about $3,800 per month. If you were to rent out the in-law suite to a tenant for a 12 year lease or net a similar figure via Airbnb for $1,000 per month, that would reduce the gross payment to $2,800 per month. After tax deductions, the net payment would be about $2,500 per month.
Happy House Hunting!