Deal of the Week: The Chevy Chase Starter Home
5382 Nevada Avenue NW
Four-bedroom homes in Chevy Chase DC usually hover in the high six-figure/low seven-figure price range, so when one hits the market that falls below that price point, it garners some attention.
This installment of Deal of the Week, a four-bedroom Colonial, is discounted for a couple reasons. For one thing, it lies near the busy intersection of Military Road and Nevada Avenue NW. For another, it is in good shape, but not the recently-renovated condition that so many homes in the neighborhood fall under, and it is being sold as-is.
Backyard
However, the home’s price is not the only thing that makes it a bargain. At four bedrooms and 2.5 baths with a front porch and deep backyard, the listing offers a lot for the money in one of DC’s pricier neighborhoods. For comparison purposes, a three-bedroom, one-bath home sold in the 5900 block of Nevada Avenue several months ago for $700,000.
But the eventual buyer will likely be a family that purchases more than just the home. They will probably buy for the quiet neighborhood, access to some of the better public schools in the city, and a chance to put some sweat equity into a property with good bones.
Living Room
More details and photos below.
Front porch
Bedroom
- Full Listing: 5382 Nevada Avenue NW (map)
- Price: $699,000
- Bedrooms: Four
- Bathrooms: 2.5
- Year Built: 1935
- Listing Agent: Sally McLuckie, TTR Sotheby’s International Realty
Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.65 percent.
- Loan Amount: $559,200
- Principal and Interest: $2,883
- Property Taxes: $427/month
- Total Monthly Payments: $3,310
See other articles related to: chevy chase, deal of the week
This article originally published at https://dc.urbanturf.com/articles/blog/deal_of_the_week_the_chevy_chase_starter_home/3901.
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