Deal of the Week: Investor Special in Adams Morgan?
2305 18th Street NW
We are admittedly a little unsure about this week’s Deal of the Week, however it is not often that you see a one-bedroom unit in Adams Morgan for $250,000. Here are our concerns: 1) It is a foreclosure; 2) It is tenant-occupied until 2011; and 3) There are no photos. Despite these issues, an investor might see this as a steal. A thirty percent down payment would mean that your monthly payments (with taxes and fees) would be around $1,300, and the monthly rent in this section of DC is likely higher than that. While you periodically would have to deal with repairs and calls from the tenant, it seems like it could be a good investment in the long-term. For the full listing, click here.
2305 18th Street NW, #301 (map)
Here are some monthly payment calculations based on a 30 percent down payment and a 30-year fixed rate mortgage at 5.4 percent.
See other articles related to: adams morgan, dclofts, deal of the week, investment properties, real estate investing
This article originally published at https://dc.urbanturf.com/articles/blog/deal_of_the_week_investor_special_in_adams_morgan/1713.
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