“If I Had $1.5 Million” Listing: The Dupont Home That Will Help Pay Your Mortgage

• July 9, 2010
• 7 Comments

by Mark Wellborn

The opportunity to buy a home that has a rental unit (or two) is an enticing amenity these days for buyers that are looking for some help with their monthly mortgage payments. This week’s If I Had $1.5 Million listing is certainly not for every buyer, but it does offer two separately metered one-bedroom rental units in addition to a spacious two-bedroom condo. In addition to three separate units, the town home on a one-way block of Riggs Street in Dupont Circle also has a roof deck and two-car parking. The one-bedroom units could bring in rental income that would more than cut the monthly payments in half. More details and photos below.

1731 Riggs Place NW

Master Bedroom

Home Office

Kitchen in One of the Rental Units

• Address: 1731 Riggs Place NW (map)
• Price: $1,699,000
• Bedrooms: Four
• Bathrooms: 3.5
• Square Footage: 3,596
• For the full listing, click here.

• Update: The listing details indicate that the rental income for the two apartments are $1,900 and $2,300.

This article originally published at http://dc.urbanturf.com/articles/blog/if_i_had_1.5_million_listing_the_dupont_home_that_will_help_pay_your_mortga/2248

7 Comments

1. Ellis said at 8:33 am on Friday July 9, 2010:

   Definitely a good price per square foot for Dupont. Do the units have C of O’s?

1. joey said at 8:55 am on Friday July 9, 2010:

   maybe i should convince my in-laws to live in the basement. what an awesome house.

1. Allison said at 9:26 am on Friday July 9, 2010:

   $16-1800? I don’t know, I recently looked at a LOT of studio and one bedroom rentals in Dupont in homes just like these, and I couldn’t find anything that looked like this for that price. I’m thinking you could ask minimum $2000/mo, and that’s without parking or utilities. Most of the places I looked at were old, had not been updated, and were basement units that were asking minimum $1700. The only updated place I saw was still a very small 1 bedroom basement unit that wanted $2200. Let me know when someone buys this place and is ready to rent—that rental kitchen is beautiful.

1. jag said at 9:37 am on Friday July 9, 2010:

   Holy smokes.  I’d jump all over that if I were a millionare…course I guess most millionares don’t care to come home and deal with tenants.

1. Pel said at 9:49 am on Friday July 9, 2010:

   If they are basement units, $1,700 would be about the average for the area.

1. Mike said at 11:47 am on Friday July 9, 2010:

   Based on the bottom picture, these are high end 1 bedrooms. If it’s $1700 for a 1 bedroom in a building with window units, these one bedrooms should be closer to $2750—the above ground one, at least. These are luxury rentals, perfect for high earning new transplants.

   After 25% down, that could bring down your mortgage to a level even someone who couldn’t even dream of affording this house could manage.

1. Pel said at 12:44 pm on Friday July 9, 2010:

   I pay $1,850 for a third floor one-bedroom on Swann Street. $2,750 sounds very high, even for Dupont.

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