Deal of the Week: An $8K Tax Credit Special - NBC4 Washington

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

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



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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.

    Living Room

    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


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