Multiple Bids: The 4,000-Square Foot Income Producer

• May 14, 2013
• 2 Comments

by Shilpi Paul

In Multiple Bids, UrbanTurf showcases homes that we think will attract the attention of several buyers. This week, we look at a five-level Columbia Heights Victorian with a low price per square foot and many rooms to stretch out in (or rent out).

With almost 4,000 square feet and seven bedrooms, this home is, needless to say, spacious. Besides all the expected rooms, there is a dressing room attached to the master suite, an office/studio, and a one-bedroom basement apartment. A deck in the back looks out into the neighborhood, and two parking spaces exist in the rear.

The price per square footage is strikingly low, at $227, though this is likely due to the larger-than-average size. Is this home destined to be a group house or will it remain as a single-family home? We are betting on the former. More details and photos below.

• Address: 1358 Kenyon Street NW (map)
• Price: $899,000
• Bedrooms: Seven
• Bathrooms: Five
• Year Built: 1900
• Price per Square Foot: $227
• Listing Agent: Tony Hain, Lindsay Reishman 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: $719,200
• Principal and Interest: $3,229
• Property Taxes: $163
• Total Monthly Payments: $3,392

This article originally published at http://dc.urbanturf.com/articles/blog/multiple_bids_4000_square_foot_victorian/7060

2 Comments

1. Tom A. said at 2:54 pm on Tuesday May 14, 2013:
   They must be hoping for a bidding war, since this is priced about 100k under where it should be. Or perhaps there is a 100k discount for the horrible vacuuming job.

1. zcf said at 7:22 pm on Tuesday May 14, 2013:
   Income producing eh?? Maybe, but the tax on that place can't be $136 a month. I pay almost double that and my house is worth half as much. The tax on that place is probably $640 a month, and that's assuming it is appraised at the list price.