Deal of the Week: Six-Bedroom 16th Street Heights Bargain

• April 5th 2011

by Mark Wellborn

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A little less than a year ago, we described 16th Street Heights as “DC’s sleeper neighborhood” and that under-the-radar reputation is due, to some degree, to homes like the one featured in this installment of Deal of the Week.

Early city zoning laws required most of the homes in the neighborhood to be detached, which means that the area is now filled with properties like this four-level, six-bedroom Colonial, built in 1913. The listing has an expansive living area that leads into a dining room with pocket doors and then into a renovated kitchen with a decorative tin ceiling. On the second level, there are four bedrooms and a separate sunroom/office (two more bedrooms are on the third floor). The property also has a large front porch, a very deep backyard, and a two-car garage.

DC home buyers are drawn not only to the houses in 16th Street Heights, but also the prices. (It is known as an area where you can buy a Chevy Chase home at a fraction of the price you would pay in the tony NW neighborhood.) But this home even stands out in the reasonably-priced neighborhood. For comparison purposes, a property of the same size and in similar condition to the one featured here, but located a few blocks south, sold for $761,000 in January.

More details and photos below.

• Full Listing: 1315 Gallatin Street NW (map)
• Price: $699,000
• Bedrooms: Six
• Bathrooms: 2.5
• Square Footage: 2,394
• Price Per Square Foot: $292

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.9 percent.

• Loan Amount: $559,200
• Principal and Interest: $2,968
• Property Taxes: $368/month
• Total Monthly Payments: $3,336

Photos courtesy of HomeVisit.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/deal_of_the_week_six_bedroom_16th_street_heights_bargain/3269.