The for rent rowhouse is located at 1203 I Street NE in Washington, DC. It rents at $1750 a month. "Newly Renovated 3BR, 1.5 BA Townhouse with updated baths, brand new appliances, new blinds, new hardwood floors, and carpet. Contains exposed brick interior, french doors, washer/dryer, Central AC/Heat, security system and off-street parking. Ready for immediate occupancy. Minutes from Union station metro, seconds to Metro-bus"
The for sale rowhouse is located at 1237 I ST NE in Washington, DC. It is available for sale at 525,000. 3br 3 ba. "Gorgeous victorian close to h st. And noma dev., union station. Great finishes thru-out - crown moldings, tray ceilings, gleaming hardwoods, gourmet kitchen, deck, fireplace, masterbath w/jacuzzi and so much more!!! Tenant occupied but will deliver vacant.,1,224 Sq. Ft" MLS#: DC6079106
These two 3br renovated rowhouses are located on the same block and their 2007 assessed values differ by less then 10,000.
Let us calculate the cost of buying. At 525,000 lets assume one has decent credit and takes out a loan for the full amount and pays an average rate 6.7% using a 30yr fixed mortgage. Your monthly mortgage payment would be $3387 according to bankrate. Minus mortgage tax deductions of perhaps $900 a month. Taxes will run about $200 a months and maintenance and insurance costs will add in another $450 a month.
- Total Ownership Costs: ~$3150
- Total Renting Costs: $1750