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Deal of the Week: U Street Condo Alternative With Rental Prospects

  • March 26, 2013

by Shilpi Paul

Deal of the Week: U Street Condo Alternative With Rental Prospects: Figure 1
2110 Vermont Avenue NW

While the price per square of this installment of Deal of the Week is fairly average, the lower level rental brings the monthly outlay into deal territory.

2110 Vermont Avenue NW is located about half a block from an UrbanTurf favorite — Blind Dog Cafe — and across the street from the 9:30 Club.

The home is divided into two living areas: the first and second stories contain a living room, kitchen, master bedroom and a large bathroom, and the lower level has a studio-like living space, a smaller kitchen, and a bathroom. With two entrances, the lower level is a legally rentable unit that the current owner leases for $1,100 per month. By our calculations, that should cover more than half of a typical monthly mortgage payment.

While the main house only has one bedroom, it could be a good condo alternative, with the additional perk of having a deep, landscaped backyard. More photos and details below.

Deal of the Week: U Street Condo Alternative With Rental Prospects: Figure 2
Living Room

Deal of the Week: U Street Condo Alternative With Rental Prospects: Figure 3
Lower Level

Deal of the Week: U Street Condo Alternative With Rental Prospects: Figure 4
Backyard

Deal of the Week: U Street Condo Alternative With Rental Prospects: Figure 5
Kitchen

  • Full Listing: 2110 Vermont Avenue NW (map)
  • Price: $499,000
  • Bedrooms: Two
  • Bathrooms: Two
  • Year Built: 1900
  • Price per Square Foot: $426
  • Listing Agent: Jeffrey Sachse, 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 3.6 percent.

  • Loan Amount: $399,200
  • Principal and Interest: $1,815
  • Property Taxes: $273
  • Total Monthly Payments: $2,088

Photos courtesy of HomeVisit.

See other articles related to: u street corridor, deal of the week, dclofts

This article originally published at http://dc.urbanturf.com/articles/blog/deal_of_the_week_u_street_condo_alternative_with_a_rental_unit/6836

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