The Cribline House Pick of the Week -- November 6, 2011

For the week of November 6th, The Cribline looked at and reviewed 10 homes this weekend, from Capitol Hill, Kalorama, Dupont Circle, Logan Circle, and Cleveland Park.

Of the 10, we have one House Pick of the Week, and two honorable mentions.

For the house pick of the week, we selected, the unique classic early 1900′s mansion at 3846 Woodley Road, NW, close to the National Cathedral on a big lot in Northwest Washington.

This six-bedroom, 3.5-bath home is nearly 4,000 square feet and is listed for $1,900,000, and just came on the market.

Take a look at the layout:

On the first floor, there is a reception hall, library, living room, dining room, family room, and a large eat-in kitchen.

The second level contains the master bedroom and updated bath, plus three bedrooms and another full bathroom.

On the third floor, there are two bedrooms and one full bathroom.

Added amenities include four fireplaces, off street parking -- a major plus -- and a swimming pool (a rarity in the city).

The location of this home is close to many city conveniences such as a grocery store, shopping, and restaurants. It's also central to many of the city's vibrant neighborhoods such as Georgetown, Woodley and Cleveland Park, Dupont Circle, and is a convenient trip to the center of downtown Washington and virtually every section of the city.

To the Point Analysis:

At $1,900,000, The Cribline recommends a down payment of 20 percent of $380,000. That leaves $1,520,000 to borrow. At a mortgage rate around 4.5 percent for 30 years (estimated), we calculate a principle, interest, taxes, and insurance total payment of $9,000/mo. After the tax deductions for most of the interest on the mortgage and property taxes, we estimate a net final out of pocket payment of about $6,300/mo.

For those in this home buying bracket, we consider this a find.

Honorable mentions:

Also in the neighborhood of our National Cathedral is 3217 Wisconsin Avenue, NW, Unit 6C.

It's a one-bedroom, one-bath on a high floor and stunning views of the Cathedral. It's located in a more modern building is about 550 square feet and is being offered at $270,000.

And on Capitol Hill, we found 635 A Street, NE for $1,049,000.

This home has many original details, tall ceilings, crown moldings, pocket doors, beautiful wood floors, skylight, lovely private patio, and parking.

This home also has a basement rental apartment that currently generates $1875 per month. The Cribline estimates that the out-of-pocket expense for this home would be around $3,000/mo. with the rental unit and tax deduction. Check it out!