Super Solid Investment Opp in Col Heights
Check out this stunningly elegant, fully renovated row house, located at 2801 Sherman Avenue in Columbia Heights, the serves as the perfect Cribline Moneymaking House Pick of the Week.
This three (3) bedroom, three (3) full-bathroom, two (2) half-bathroom home features: a spacious open floor plan with an eat-in gourmet kitchen that includes breakfast bar, granite counters, and high-end stainless steel appliances; separate living room, dining room, and family room; trendy exposed brick surfaces throughout; two (2) master bedroom suites; hardwood floors throughout; and an amazing in-law suite that can serve as a potential rental unit. It has its own kitchen, two (2) separate entrances, and one-and-a-half (1.5) bathrooms!
There is an open house this Sunday, February 12, 2017, beginning at 2PM. It’s just on the market for $949,999. See how much this will cost per month in the Cribline math analysis below:
Cribline Math Analysis:
With 20 percent down on $949,999 of $190,000, the mortgage amount would be $759,999. At an estimated 4 percent interest rate fixed for 30 years the gross payment would be about $4503.35 per month. If you were to rent out the in-law suite to a tenant for $1,000 per month, or generate the same amount of income via a series of short-term rentals on AirBNB, that would reduce the gross payment to $3503.35 per month. After tax deductions, the net payment would be about $2,450 per month.
Happy House Hunting in Columbia Heights! – The Cribline Team