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Spacious Columbia Heights Moneymaking Basement

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Super Solid Investment Opp in Col Heights

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:

DC9855049_0 DC9855049_1_0 DC9855049_2_0 DC9855049_4_0 DC9855049_6_0 DC9855049_7_0 DC9855049_8_0 DC9855049_10_0 DC9855049_12_0 DC9855049_15_0 DC9855049_16_0 DC9855049_18_0 DC9855049_21_0 DC9855049_22_0 DC9855049_24_0 DC9855049_26_0 DC9855049_28_0

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

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