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Deal of the Week: Investor Special in Adams Morgan?

  • January 25th 2010

by Mark Wellborn

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Deal of the Week: Investor Special in Adams Morgan?: Figure 1
2305 18th Street NW

We are admittedly a little unsure about this week’s Deal of the Week, however it is not often that you see a one-bedroom unit in Adams Morgan for $250,000. Here are our concerns: 1) It is a foreclosure; 2) It is tenant-occupied until 2011; and 3) There are no photos. Despite these issues, an investor might see this as a steal. A thirty percent down payment would mean that your monthly payments (with taxes and fees) would be around $1,300, and the monthly rent in this section of DC is likely higher than that. While you periodically would have to deal with repairs and calls from the tenant, it seems like it could be a good investment in the long-term. For the full listing, click here.

2305 18th Street NW, #301 (map)


  • Price: $249,000
  • Bedrooms: One
  • Bathrooms: One
  • Year Built: 1911

Here are some monthly payment calculations based on a 30 percent down payment and a 30-year fixed rate mortgage at 5.4 percent.

  • Loan Amount: $174,300
  • Principal and Interest: $979
  • Taxes and Fees: $329
  • Total Monthly Payments: $1,308

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/deal_of_the_week_investor_special_in_adams_morgan/1713.

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