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Deal of the Week: A One-Bedroom $8K Tax Credit Special

  • November 10th 2009

by Mark Wellborn

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Deal of the Week: A One-Bedroom $8K Tax Credit Special: Figure 1

This week’s Deal of the Week is a one-bedroom condo in Brightwood that may be the perfect unit for a first-time buyer that actually wants to see a dent from the $8K tax credit. As we mentioned in a post not long ago, the tax credit is only really noticeable in areas where sales prices are particularly low (like Las Vegas). Well, at $225,000, the credit will account for about 3.5 percent of the sales price of this unit. The sunny corner condo has windows everywhere, all new appliances and finishes, washer/dryer and central A/C. While public transportation options are limited, parking is only an extra $75 a month, a price we factored in below. More photos and info below. For the full listing, click here.

Deal of the Week: A One-Bedroom $8K Tax Credit Special: Figure 2
Kitchen

Deal of the Week: A One-Bedroom $8K Tax Credit Special: Figure 3
Living Room

Deal of the Week: A One-Bedroom $8K Tax Credit Special: Figure 4
Bedroom

5754 Colorado Avenue NW, #101 (see map here)


  • Price: $224,900
  • Bedrooms: One
  • Bathrooms: One
  • Square Footage: 650
  • Price per SF: $346
  • Year Built: 1938

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.98 percent.

  • Loan Amount: $179,920
  • Principal and Interest: $964
  • Monthly Fees: Approximately $187
  • Est. Insurance: $50
  • On-Site Rental Parking: $75/month
  • Total Monthly Payments: $1,276

See other articles related to: dc condos, dclofts

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/deal_of_the_week_a_one-bedroom_8k_tax_credit_special/1497.

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