Deal of the Week: The Difference a Few Blocks Makes in Old Town

• May 16th 2011

by Mark Wellborn

The difference that only a couple blocks can make in home prices in Old Town is evident in this installment of Deal of the Week.

At the end of April, an 1,100 square-foot two-bedroom home on Lee Street near the water sold for $635,000. While properties close to the river command a premium, just a few weeks later, a slightly smaller home about a five-minute drive northwest of that listing is selling for $150,000 less.

The main level of the home is set up like a railroad apartment with a front living area that leads into a small dining room and then into a long eat-in kitchen. A stairwell that comes down into the living room goes up to the second level with two good-sized bedrooms.

Right off the kitchen is a fairly deep landscaped patio and the listing comes with one parking space, although it is within walking distance of the Braddock Road Metro on the Blue and Yellow Lines and the area Trader Joe’s.

More details and photos below.

Update: The status on this home changed from Active to Contingent/No Kickout late on Monday.

• Full Listing: 902-1/2 Pendleton Street, Alexandria, VA 22314 (map)
• Price: $479,900
• Bedrooms: Two
• Bathrooms: One
• Square Footage: 1,026
• Price Per Square Foot: $468

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.7 percent.

• Loan Amount: $383,920
• Principal and Interest: $1,991
• Property Taxes: $342/month
• Total Monthly Payments: $2,333

This article originally published at https://dc.urbanturf.com/articles/blog/deal_of_the_week_the_difference_a_few_blocks_makes_in_old_town/3504.