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Deal of the Week: Under $400 a Square Foot on the Hill

  • September 27th 2011

by UrbanTurf Staff

Deal of the Week: Under $400 a Square Foot on the Hill: Figure 1
516 A Street NE, #304

This installment of Deal of the Week lies almost equidistant from the Capitol and Eastern Market which, along with the fact that two-bedroom units in this section of Capitol Hill rarely sell for below $400,000, was one of the reasons it crossed our bargain radar.

The 980 square-foot unit is not without its drawbacks, as it needs to be updated and some buyers may frown when they see the window A/C units (for the record, UrbanTurf does not see the latter as a negative). However, the co-op has a kitchen that has a small sit-down space and a large pantry, the living room is bright, there are five closets throughout the unit, and it has a separate storage space in the basement.

Deal of the Week: Under $400 a Square Foot on the Hill: Figure 2
Entrance

A similar unit in the building sold a few months ago for about $15,000 more than this listing is asking, so by that comparison, #304 is a bargain. But anywhere within five blocks of this home, buyers would be hard pressed to find a two-bedroom priced this well.

Deal of the Week: Under $400 a Square Foot on the Hill: Figure 3

More details below.

  • Address: 516 A Street NE, #304 (map)
  • Price: $389,000
  • Bedrooms: Two
  • Bathrooms: One
  • Square Footage: 978
  • Price Per Square Foot: $398

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.2 percent.

  • Loan Amount: $311,200
  • Principal and Interest: $1,522
  • Coop Fees (Taxes Included): $438/month
  • Total Monthly Payments: $1,960

See other articles related to: capitol hill, deal of the week, eastern market

This article originally published at https://dc.urbanturf.com/articles/blog/deal_of_the_week_under_400_a_square_foot_on_the_hill/4227.

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