Home | Newsletter | Advertise
loading...

Multiple Bids: Competing in Mount Pleasant

  • Jun 11th 2013

by Shilpi Paul

Multiple Bids: Competing in Mount Pleasant: Figure 1

In Multiple Bids, UrbanTurf showcases homes that we think will attract the attention of several buyers. This week, we look a renovated four-bedroom rowhouse not far from Rock Creek Park in Mount Pleasant.

There are a few reasons for believing that this family-sized home will attract more than a few interested house hunters. First, the price per square foot is on the low end of the scale ($298) for the neighborhood.

Next, similar listings in the area seem to be ripe for bidding wars these days. For example, this Mount Pleasant rowhouse not too far away just went under contract for more than $100,000 above its asking price.

Finally, the home has what seemingly every buyer wants these days: an in-law suite that could (if proper permits are obtained) be rented out. Complete with a kitchen, the lower-level space will give the eventual buyer a possible way of reducing their monthly outlay. More details and photos below.

  • Address: 1718 Hobart Street NW (map)
  • Price: $849,000
  • Bedrooms: Four
  • Bathrooms: 3.5
  • Year Built: 1927
  • Price per Square Foot: $298
  • Listing Agents: Kelly Williams and Loic Pritchett, 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 4.0 percent.

  • Loan Amount: $679,200
  • Principal and Interest: $3,242
  • Property Taxes: $445
  • Total Monthly Payments: $3,687

Multiple Bids: Competing in Mount Pleasant: Figure 2

Multiple Bids: Competing in Mount Pleasant: Figure 3

Multiple Bids: Competing in Mount Pleasant: Figure 4

Photos courtesy of HomeVisit.

See other articles related to: dclofts, mount pleasant, multiple bids

This article originally published at https://dc.urbanturf.com/articles/blog/multiple_bids_with_rental_property_in_mount_pleasant/7180.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse