Deal of the Week: Shaw Row House for $409K

• May 11th 2010

by Mark Wellborn

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For this installment of Deal of the Week we find a property that caters to buyers who know a thing or two about home improvements, and are willing to be patient. This three-bedroom row house in Shaw is on the market because the owner could not find the money to finish renovating it. The listing agent told UrbanTurf that the house needs new finishes, but that the current owner put in new copper pipes, electrical wiring and duct work. The home is also a short sale and as any regular reader of UrbanTurf knows, the buying process for these properties can be long and frustrating (read more about short sales here). Despite its status, the home is listed well below market for a three-bedroom in this neighborhood, and if someone put $50,000 toward finishing the job, it could prove to be the Deal of the Year. Look back for interior photos later in the week. For the full listing, click here.

413 Q Street NW (map)

• Price: $409,000
• Bedrooms: Three
• Bathrooms: Three
• Year Built: 1900

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 5.1 percent.

• Loan Amount: $327,200
• Principal and Interest: $1,777
• Condo Fees/Taxes: $305/month
• Total Monthly Payments: $2,082

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/deal_of_the_week_shaw_row_house_for_409k/2060.