Multiple Bids: The Capitol Hill Income Producer

• April 15, 2013

by Shilpi Paul

1411 Ames Place NE

In the DC area housing market, deals are increasing difficult to find. So, in lieu of Deal of the Week, UrbanTurf presents Multiple Bids, where we feature a home that we believe is likely to attract, well, multiple bids.

This rowhouse near the border of Capitol Hill and what is now referred to as Hill East has a few features that make it likely to attract attention: a relatively low price per square foot ($433) and a rentable one-bedroom basement unit that can offset monthly mortgage payments.

The four-bedroom about a block and a half from Lincoln Park has been renovated and comes with a small back patio. While not a slam dunk of a bargain (a home on the same block with one less bedroom and no half bath sold for $590,000 in December 2012), we think that rentable unit will entice a number of buyers to submit offers. More photos and details below.

• Full Listing: 1411 Ames Place NE (map)
• Price: $650,000
• Bedrooms: Four
• Bathrooms: 2.5
• Year Built: 1908
• Price per Square Foot: $433
• Listing Agent: Cameron Dunlop, Coldwell Banker

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: $520,000
• Principal and Interest: $2,364
• Property Taxes: $325
• Total Monthly Payments: $2,689

This article originally published at https://dc.urbanturf.com/articles/blog/multiple_bids_rowhouse_with_a_rental_unit_near_lincoln_park/6931