Thurs. Afternoon Rental Option – Bloomingdale

129 Florida Avenue Northwest

This rental is located at 129 Florida Avenue, Northwest. The listing says:

“Brand new, absolutely flawless renovation of a classic story book Bloomingdale home with gleaming hardwood floors throughout, chef’s kitchen, w/d, outdoor patio, garage parking, all literarily just around the corner from Big Bear Cafe and the the weekend farmer’s market. Easy to access to every route out of the city with all the amenities of urban living at your fingertips. Pets allowed!”

You can see more photos here.

This 3 bed/2.5 bath is going for $3,200/Mo.

27 Comment

  • Argh. Sad to see this whole house ended up as a rental. Would’ve love to see a family move in. Oh well.

    • How does this preclude a family from moving in? This doesn’t look like staging furniture.

      • It doesn’t of course, I should have said was hoping to see a family buy the house and live there themselves. Seeing a house like that get renovated and sold to someone who immediately rents it tells me many families are priced out of buying into it (and the neighborhood) and moving in. Someone with more cash flow saw it as an investment and snatched it up. No one doing anything wrong. Just stating my preference as a young home-owning family in the neighborhood here for the long haul that I’d love to see these proper houses be affordable to other working families.

        • I agree with this sentiment, I’d hope to see less investors and more live-in families move in. This house sold almost exactly a year ago, and it seems like the owners are renting out the house already. (It has a separate basement unit.) Although who knows about the circumstances – maybe the owners are temporarily out of the area?

          • there is nothing wrong with renters. Whoever rents this place will live-in, it will be their home.

    • to be contrary:

      rentals don’t get the homestead tax deduction, so DC gets more property tax revenue.

      a family would have 2 earners, max; 3 roommates probably make more total. Thus, DC gets more income tax revenue. Even if the family does have a higher total income, DCPS spends over $10,000 per pupil, so if they have a kid in school that wipes out their extra contribution.

      families spend money on day care (no sales tax); single people have more income for beer, yoga, and restaurant meals (taxed)

      families are more likely to drive; single people are more likely to bike or take transit

      a bunch of roommates aren’t going to push a giant double stroller around and block everyone at the farmer’s market or Big Bear.

    • I find this discriminatory thinking. People who aren’t living with families need a place to live, too. They have a right to live in your neighborhood.

      People who don’t own but rent, be they families or not, are not worse neighbors than owners. They also have a right to live in your neighborhood.

      Can you even hear how you sound?

  • Looks like this house was just renovated and sold a year ago for about 760k. I’m surprised to see it on the rental market so soon at what I’m guessing is a price that won’t even cover their monthly payments.

    • They also have a 1bd/1ba rental unit in the basement. Add another ~1,500/mo to the coffers. Guessing that covers it nicely.

      • A basic mortgage calculator on $760k sale price, 20% down, 4.25% interest on a 30 year, with estimate $3,000 taxes & $1,500 insurance puts it around $3,300/month. Obviously many of those numbers are subjective (interest/down payment) and could vastly affect the outstanding loan amount. So if they look at the upper levels as their overhead, then they clear some decent money on the basement. Likely that if it were an investor or a second or third time home buyer investing that they may have put a bit more than 20% down. And I probably underestimated 4.25%, haven’t looked at what those numbers are lately.

        • You forgot to tax the rental income.

          • Exactly. I rented the first year I owned my place to the previous owner, and was surprised when tax time came along and I owed 30% of that month’s payment to the govt. Makes a big difference.

          • By my count, then, they’d have to be getting something like $1425 on the basement to clear anything. Of course, they may live in the basement and be renting out the upper floors.

          • you were paying 30% of revenue to the government? you were doing it wrong. you should have been remitting 30% of your profits to the government.

          • Mortgage interest plus depreciation should be plenty to offset rental income (at least in the first ten years of a mortgage). You don’t pay taxes on rental income when offset by your deductible costs. Actually, you’ll probably be able to claim a loss unless your MAGI phases you out.

      • I didn’t notice the downstairs unit. That makes it less surprising. (Deep thought of the day right there, ladies and gentlemen)

  • Seems like a pretty great deal.

  • is it me or does this seem extremely cheap?

  • That is lovely. Agreed that the price seems a little low, though.

  • hah – that’s funny. i lived there for a year. they tried to sell it before we moved in, and after. i will say, living on that Florida stretch is loud as all hell. certainly don’t miss all the sirens 24/7.

  • I would say this is a decent deal. I have a 3BR/3BA condo up 1st st in Bloomingdale and rent it out for almost $500 more a month (granted that includes all utilities, cable/internet, cleaning service, and 1 pking spot).

    I’d say this is a pretty good deal for a rental house.

    • Really? Wow. Well, perhaps I need to find somewhere to live and rent my house out. We’d be making a lot of cash!

  • I love this area! Anyone want to move in with me?

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