Deal of the Week: A T Street Bidding War?

• June 4, 2012
• 2 Comments

by UrbanTurf Staff

The white row house behind the tree.

Three-bedroom homes in the vicinity of 15th and T Street NW have sold on average for about $750,000 over the last year, and for well above that price point if they are in tip-top condition. That doesn’t necessarily mean that this “as-is” installment of Deal of the Week is a clear bargain, but given the current buying climate, its $659,000 price tag will likely attract a number of offers.

A few renovations were done to this three-bedroom plus-den row house on T Street between 14th and 15th about two years ago, but a lack of photos may be an indication that the “as-is” description should be heeded. Still, with three bedrooms, a den, a basement, front yard, and parking in the rear, it has the size and amenities to probably make it worth whatever sweat equity the eventual buyer puts in. We’ll keep an eye on its status and update the article if it goes under contract later this week.

More details below.

• Address: 1464 T Street NW (map)
• Price: $659,000
• Bedrooms: Three
• Bathrooms: One
• Year Built: 1872

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 3.9 percent.

• Loan Amount: $527,200
• Principal and Interest: $2,487
• Property Taxes: $394/month
• Total Monthly Payments: $2,881

This article originally published at http://dc.urbanturf.com/articles/blog/deal_of_the_week_a_t_street_bidding_war/5613

2 Comments

1. Bluebomber said at 7:36 pm on Tuesday June 5, 2012:
   I've seen this house and am not sure it's really a bargain of any kind. It is really small, would need to be gutted and probably expanded out the back. While they do claim some renovations were done in the past couple of years, I didn't see anything that looked like recent updates, in the house.

1. BT said at 8:34 pm on Tuesday June 5, 2012:
   Any house on this block for under $700,000 is a deal in this environment with what's happening on 14th.