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

• January 8, 2013

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