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Deal of the Week: Is The Price Now Right?

  • November 15th 2011

by UrbanTurf Staff

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Deal of the Week: Is The Price Now Right?: Figure 1
6918 6th Street NW

In many instances, a property on the market needs a few price reductions in order to put it into bargain territory. 6918 6th Street NW was originally listed about two months ago for $535,000, but that asking price has been dropped twice, first to $510,000, and most recently to its current deal-worthy price of $490,000.

Deal of the Week: Is The Price Now Right?: Figure 2

The home, adjacent to Walter Reed and near the Takoma Metro, has six bedrooms and two bathrooms, but needs some work to restore it to a single-family residence as for the past few years it has served as the Kriya Yoga Devotee Center.

Deal of the Week: Is The Price Now Right?: Figure 3

Most of the bedrooms are fairly modest and the entire home will need renovations, but the property has high ceilings and the type of old-fashioned front porch that Takoma DC has become known for. The home also has a backyard with a structure that could be used as a garden room or studio.

Deal of the Week: Is The Price Now Right?: Figure 4

More details below.

  • Address: 6918 6th Street NW (map)
  • Price: $490,000
  • Bedrooms: Six
  • Bathrooms: Two
  • Square Footage: 2,146
  • Listing Agent: Meg Finn, Long & Foster

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.1 percent.

  • Loan Amount: $392,000
  • Principal and Interest: $1,894
  • Property Taxes: $302/month
  • Total Monthly Payments: $2,196

See other articles related to: dclofts, deal of the week, takoma

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/deal_of_the_week_is_the_price_now_right/4577.

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