Under Contract: Live Upstairs, Rent Downstairs

• August 18th 2011

by UrbanTurf Staff

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Under Contract this week includes a home featured in What $980K Buys You last week and a recently featured listing where the buyer could live upstairs and rent out the downstairs unit.

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Four-Level, Six-Bedroom Townhouse on Kingman Place

We featured this four-level, six-bedroom house on Logan Circle’s Kingman Place in last week’s What $980K Buys You piece. It is one of the lower-priced homes of its size in the neighborhood (largely because the interior needs updating), and attracted a lot of attention in the first few days it was on the market, with 75 groups coming to the open house. The property has an in-law suite and a main house with five bedrooms, as well as a rear garden, rooftop terrace and quite a large garage. The listing was under contract after about two weeks on the market.

• Address: 1517 Kingman Place NW (map)
• Price: $980,000
• Bedrooms: Six
• Bathrooms: Three
• Year Built: 1915
• Days on Market: 15

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Live Upstairs, Rent Downstairs

When we wrote about 1338 Irving Street NW about a month ago, we noted that the buyer could pay off a good chunk of their monthly mortgage if they rented out one of the listing’s two separate two-bedroom units. The upstairs two-bedroom is more attractive, but both have two bathrooms and small decks, and the property comes with two parking spaces. Even with pretty steep property tax payments, if the buyer put 20 percent down, they could rent out one of the units for $2,300 a month and cover well over 50 percent of the monthly mortgage. The property was under contract in about three weeks.

• Address: 1338 Irving Street NW (map)
• Price: $799,000
• Bedrooms: Four
• Bathrooms: Four
• Square Footage: 2,664
• Days on Market: 23

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/under_contract_live_upstairs_rent_downstairs/4013.