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Deal of the Week: Petworth For Under $400,000

  • July 17th 2012

by Shilpi Paul

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Deal of the Week: Petworth For Under $400,000: Figure 1
729 Otis Place NW

This installment of Deal of the Week is in good condition, but its need for a little updating may explain the low price.

Despite the need for a few enhancements, the three-bedroom has a lot to offer: a location two blocks from the Petworth Metro, gleaming floors, original details, sizable rooms, and a backyard.

The low price reflects the home’s unmitigated aging. The kitchen and bathroom are outdated, and the house doesn’t have central A/C. However, the historic features, like the radiators and original clawfoot tub, are likely attractive to some buyers. As is the price considering that one would be hard pressed to find a three-bedroom in this area for under $400,000.

The agent tells us that the house has already received a lot of interest and that she expects to be looking at offers soon.

More details and photos below.

Deal of the Week: Petworth For Under $400,000: Figure 2
Living Room

Deal of the Week: Petworth For Under $400,000: Figure 3
Kitchen

Deal of the Week: Petworth For Under $400,000: Figure 4
Bedroom

Deal of the Week: Petworth For Under $400,000: Figure 5
Office

Deal of the Week: Petworth For Under $400,000: Figure 6
Backyard

  • Address: 729 Otis Place NW (map)
  • Price: $385,000
  • Bedrooms: Three
  • Bathrooms: One
  • Square Footage: 1,528
  • Price Per Square Foot: $252

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 3.7 percent.

  • Loan Amount: $308,000
  • Principal and Interest: $1,418
  • Property Taxes: $241
  • Total Monthly Payments: $1,659

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

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/deal_of_the_week_petworth_wardman_that_needs_updating/5779.

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