Deal of the Week: An $8K Tax Credit Special

Yes, D.C., it's a condo you actually might be able to afford

By Mark Wellborn
|  Wednesday, Nov 11, 2009  |  Updated 1:30 PM EDT
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Deal of the Week: An $8K Tax Credit Special

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This week’s Deal of the Week is a one-bedroom condo in Brightwood that may be the perfect unit for a first-time buyer who actually wants to see a dent from the $8K tax credit. As we mentioned in a post not long ago, the tax credit is only really noticeable in areas where sales prices are particularly low (like Las Vegas). Well, at $225,000, the credit will account for about 3.5 percent of the sales price of this unit. The sunny corner condo has windows everywhere, all new appliances and finishes, washer/dryer and central A/C. While public transportation options are limited, parking is only an extra $75 a month, a price we factored in below. More photos and info below. For the full listing, click here.

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Kitchen
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Living Room
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Bedroom

5754 Colorado Ave. N.W., #101 (see map here)

 

  • Price: $224,900
  • Bedrooms: One
  • Bathrooms: One
  • Square Footage: 650
  • Price per SF: $346
  • Year Built: 1938

 

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.98 percent. 

  • Loan Amount: $179,920
  • Principal and Interest: $964
  • Monthly Fees: Approximately $187
  • Est. Insurance: $50
  • On-Site Rental Parking: $75/month
  • Total Monthly Payments: $1,276

 

More recent articles about D.C.-area real estate from UrbanTurf:

 

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