Deal of the Week: A Two-Bedroom For Under $900/Month

• January 8, 2013
• 5 Comments

by Shilpi Paul

429 Kenyon Street NW

In this installment of Deal of the Week, we take a look at a Pleasant Plains co-op on the market for a mere $169,000.

The 861-square foot, two-bedroom’s location on the lowest level of the building, contributing to a dimly-lit feeling throughout, may be responsible for the low price. And while the kitchen has been updated, the interior is decidedly plain, with rough carpeting and aged bathroom tile, that the eventual owner will likely want to update.

Still, a two-bedroom pretty much anywhere in the NW section of this city for under $200,000 would be considered a bargain; a 20 percent down payment and an interest rate of 3.5 percent would yield an $857 monthly payment on this unit.

The listing agent tells UrbanTurf that the unit previously found a buyer at around the asking price. When the purchaser’s financing fell through, the owner re-listed the unit at the low price and hopes to find another buyer quickly. More details below.

• Address: 429 Kenyon Street NW, Unit T-2 (map)
• Price: $169,000
• Bedrooms: Two
• Bathrooms: Two
• Price Per Square Foot: $196
• Listing Agent: Lauren Goss, Long and Foster Real Estate

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 3.5 percent.

• Loan Amount: $135,200
• Principal and Interest: $607
• HOA fees: $250
• Total Monthly Payment: $857

This article originally published at http://dc.urbanturf.com/articles/blog/deal_of_the_week_a_two_bedroom_for_under_900_month/6488

5 Comments

1. Jeff said at 6:54 pm on Tuesday January 8, 2013:
   MLS shows this unit was on sale initially for $120,000 in May 2012, then raised to $160,000 in october, now it's at $169k? MLS never shows this unit having been under contract with any buyer since first being listed May 2012, which seems to contradict the listing agent claims that a buyer financing fell through. Doubtful this will go for list price...

1. Heights Mom said at 7:06 pm on Tuesday January 8, 2013:
   This was the same place posted in October😃 http://www.popville.com/2012/10/good-deal-or-not-distinguished-details-edition/

1. Kolapo said at 10:07 pm on Tuesday January 8, 2013:
   This place is very very dim and not updated at all. Might as well rent a basement unit. I saw another coop that is much much better than this on in columbia height that has hardwood floors and much better lighting. http://www.redfin.com/DC/Washington/1415-Girard-St-NW-20009/unit-306/home/40372757

1. Logan Lady said at 10:12 pm on Tuesday January 8, 2013:
   There's something there not telling us about that place on Girard. Why has it been on the market for nearly a year?

1. Kenny D said at 6:21 am on Wednesday January 9, 2013:
   @Logan Lady, they've sold a couple of units in the building and I've beento an open house there before and for that neighborhood it's a great deal. I think the issue has been that buyers have to use a specific lender and the lender requires a 700+ credit score. Also, its a coop and people are not very knowledgeable about them, even realtors. I've actually been lookin in that area and there has been nothing close to this. i'm actually considering it.