Tues. Afternoon Rental Option – Woodley Park

This rental is located at 2938 28th Street, NW:

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The listing says:

“An elegant residence in such a charming environment in the heart of Washington DC…surrounded by beautiful landscape that will be maintained by owners. Granite,Warm wood floors,Walking distance to Metro, shops, restaurants, National Zoo park, Rock Creek park- Ample natural lights throughout the residence. Perfect choice for relaxing days while moments away from active and energized life style.”

This 3 bed/3 bath is going for $4,700/Mo.

5 Comment

  • Perfect for the World Bank crowd in DC for 3 years with the family and a housing stipend.

  • I live in a house directly on the other side of Connecticut that is 1,500 square feet bigger and $200 cheaper per month. And was renovated completely three years ago.

    But my landlord may be insane.

  • Maybe as a twenty-something I just don’t really get the subtleties of real estate…. but why would you spend $4,700/month in rent when you could afford to just buy and probably pay less per month in mortgage payments?

    • because your current cashflow allows you to afford a $5k/month rent or mortgage, but you don’t have the savings to cover a down payment on a place this expensive (a 10% down payment on a $1 million dollar house is $100,000, and most banks won’t let you put down less than 10% anymore, though it depends).

      also if you’re only here temporarily, the transaction costs associated with a sale (closing costs + down payment) are prohibitive enough to not go through if you don’t intend on staying in a place long term, hence Anony’s comment above.

    • A few possibilities:

      Because you’re only going to live in DC for a limited period of time.
      Because you don’t want to be responsible for major maintenance.
      Because you’re a foreign national and actually buying the place would be more hassle than you want to deal with.
      Because your employer is paying for it.
      Because you’re one of several looking for a group house, and none of you can afford to buy it on your own, but together you can afford to rent it.

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