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The Cribline’s House Pick of the Week – September 18, 2011

The Cribline’s House Pick of the Week – September 18, 2011

Today we explored several quadrants of the city. We started in Logan Circle, then went to Cleveland Park, Palisades, West End and to Capitol Hill.

We narrowed our search to a total of 10 homes from these neighborhoods to find the one that had that extra something special and unique.

Today’s House Pick of the Week is a charming pre-war colonial located in the Palisades at 4833 Reservoir Road, NW. The property is listed for $765,000 by Evers & Co.

There are several features that caught The Cribline’s eye including location, location, location, a large back yard, an au-pair suite with separate entrance, and plenty of parking.

Upon further examination we also learned that the front of the home is located about a block from the Boat House at Fletcher’s Cove, and out back, it is seconds to the Safeway and dozens of shops and restaurants right on MacArthur Blvd,  including the great Blacksalt Restaurant.

This rare find is a 2/3 bedroom, 3 bath home with an updated kitchen that opens onto a nice back deck and very spacious tiered garden.

The home is also steps to the C & O Canal and Crescent Trail (perfect for hiking and biking).

During the tour, the listing agent informed me that the home, located in an area called Whitehaven, sits on a tract of land that was granted by King Charles I of England to Lord Baltimore in 1689. Just down the street stands the original Whitehaven Manor, built around 1764, where Thomas Jefferson was a frequent visitor.

The quietness of this locale (and surrounded by a lot of green), its access to boating, hiking and bike trails, and its simultaneous proximity to urban conveniences, led us to chose this home as the House Pick of the Week. We also can’t find many homes in this neighborhood that are in this price point.

To the Point Analysis: At $765,000, with 20 percent down (about $150k), we estimate a gross monthly payment of about $4,000/mo.

Should the owners decide to rent the au-pair suite (with it’s own kitchen), we estimate that could reduce the payment by about $1,500/mo to about $2,500/mo. After the tax deductions, we estimate a final net payment to be around $1,800/mo.

This week, given the volume of open houses this time of year, we decided to give honorable mention to the following homes:

At the top end, for $3,195,000, we thought the 3-story Penthouse apartment at the Ritz Carlton on M and 23rd (1111 23rd Street, NW #PH2B South) was extraordinary. The tour was much like the Washington version of the tours found on the HGTV show “Selling New York.” This is a 3 bedroom, with ALL of the top-of-the-line amenities…

In the mid-range, we picked 1113 Independence Avenue, SE for $849,900.

And, at the lower range, we picked one of the lowest-priced units on the market in one of the best locations: 1101 L Street, NW #203. It’s a studio with a large closet, kitchen and a Murphy bed, located in Logan Circle close to K Street. It’s listed at $185,000, and right across the street from the Morrison Clark Inn.

Happy house hunting!

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