DC is full of culinary gems; some known and some yet to be discovered. Just a few cool little spots that have sprouted: SunDeVich is located in Naylor Court at 1314 9th St. NW and it promises to be a unique sandwich shop inspired by global flavors. Love it! The other new hot spot is Boundary Stone Public House in Bloomingdale. Great pub and great pub food and ambiance. So far, so good. Both Mount Vernon and Bloomingdale/Ledroit Park are becoming destination spots for DC folks.
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Rent to Own vs. Contract for Deed
In today’s market, and given today’s tight lending environment, rent-to-own (Lease Option) or Contract for Deed are options that are often misunderstood and overlooked. While they do require more legal expertise, they can be win-win situations for both property owners/landlords and would-be purchasers/tenants.
First of all, a lease option (commonly known as rent-to-own) is a scenario that allows the tenant and the landlord to come up with a sales price for the property in advance. This price is locked for the duration of the lease. The tenant then has the option to purchase the house at any time before the lease expires. The tenant would need to qualify for a mortgage from a bank in order to consumate the sale. This scenario allows the tenant to save money for the purchase. In some instances, more rent is paid with the portion above the agreed rent amount held in escrow until the sale is consummated, with proceeds from the escrow account credited toward the tenant’s down-payment and or closing costs. It is important to remember that this is still a landlord/tenant relationship and the tenant has no right to the title of the property. Basically, you can evict the tenant if rent payments aren’t made despite there being a lease option in place.
In a contract for deed scenario, the seller simply finances the purchase of the property allowing the would-be owner to make the monthly payments directly to them. The would-be owner moves in and, through a string of financial negotiations (price, financing terms with owner) a contract for deed is executed. The would-be owner does not have title to the property UNTIL the seller-financed loan is fully paid off…much like a auto loan. This transaction does not create a landlord/tenant relationship so kicking out the party to the contract for deed will be much like a foreclosure proceeding.
Notwithstanding the legal differences, there are varying tax implications for property owners and would-be homeowners for these two scenarios. A Lease Option is a short-term obligation that may or may not need to be exercised whereas Contract for Deed transactions are lengthy and hold the same weight as a mortgage from a conventional bank.
Spectacular English Basement Flat
Spacious and bright, this basement apartment is located on the lower level of a row house in the petworth/columbia heights neighborhood. Accessed via the back yard, the apartment showcases a beautiful array of updates: bamboo floors throughout, open floor plan, brand new kitchen with concrete countertop and new appliances, designer bathroom with custom tiling and standup shower, two bedrooms (2nd room can be used either as a bedroom with a small bed or it will be a perfect office or den), shared laundry facility, heating and cooling elements throughout, new windows. Walk to metro, shopping and best of city living.
4418 14th St. NW #B
2BR/1BA
$1,400/month
This Will Speed Up Your Heart Rate
This elegant duplex has it all! Located in a gorgeous Victorian on Kalorama Rd., this beautiful property has been thoughtfully renovated and features an incredible floor plan, open and airy, tall ceilings, restored original pine floors, crown moldings, high-end kitchen with chef-caliber appliances, tons of storage and closets, two spacious bedrooms with great closet space, den/reading area off of the living room with built-in bookshelves, modern bathrooms with high-end finishes including heated floors, custom tiling, soaking tub, and skylight, wood-burning fireplaces in each room, washer dryer in unit, as well as a parking spot.
1820 Kalorama Rd. NW #3
2BR/2BA Duplex + Parking
$4,250
Perfect City Pad
Great studio apartment in DC’s most dynamic community. This spacious studio offers an open layout, kitchen bar, walk-in closet, washer/dryer, and an updated bathroom. Additional storage is included in the rent. The building is well-managed and provides its residents a lovely roof deck.
2300 18th St. NW #205
Studio apartment
$1,400/month
:: STUNNING Studio at Artisan Lofts ::
Welcome to the best of city living! This fabulous studio has it all: Spacious and open floor plan with gorgeous wood floors throughout, beautiful kitchen with stainless steel appliances, granite countertops and custom cabinets, modern bathroom, washer dryer in unit, huge closet space with built-in shelving system, AND a coveted outdoor patio area. The building is as good as it gets: historic facade, modern interior and facilities, helpful front desk staff, gym, party room and a roof deck. This unit also comes with an assigned storage space in the building.
Located in the heart of the dynamic chinatown corridor, within walking distance to Metro, city’s finest restaurants, theaters, shopping and culture. Not to be missed!
915 E St. NW #104
Studio apartment
$1,750.00 per month
EXQUISITE Kalorama Penthouse for Rent :: Coming Soon
Beauty and Charm :: Historic Rowhouse for Rent
This lovely and spacious home in Petworth/ upper Columbia Heights offers a gracious floor plan with open living and dining rooms, wonderful second living room with a beautiful decorative fireplace, spacious kitchen, wonderful backyard perfect for outdoor entertaining, as well as a full bath on the main level. Let’s not forget the cozy front porch perfect for lounging.
The second level features two large bedrooms, one with access to a balcony with city views, a gorgeous bath featuring a claw-foot tub, custom tiling and a skylight. The third room is the main suite and features tall ceilings with exposed beams, a den/office area open to the sleeping area AND a beautiful sunroom.
The house is heated via radiators and cooled via window units. Laundry room in the basement level (shared with the basement apartment). While there is no assigned parking with this property, there is easy parking (with permit) on street.
This lovely home has much to offer those seeking space and comfort within close proximity of the city’s best restaurants, shopping, entertainment and transportation. This house is conveniently located on 14th St. and is equidistant to both Petworth and Columbia Heights Metro stops.
Not to be missed!!
*** OPEN HOUSE SATURDAY FROM 1PM-2PM ***
To apply, please go to http://www.citylightsportal.com
4418 14th St. NW
3BR/1BA
$2,800/month
Beautiful Victorian in Columbia Heights
This quintessential two story Victorian has charm and character, is spacious and airy and is outfitted with modern amenities. The features include:
Two levels
Main floor:
* Gorgeous wood floors throughout.
* Separate living and dining room (sofas, book cases and dining table can convey at your option).
* Wonderful kitchen with exposed brick, european cabinets and stainless steel appliances.
* Full-size washer dryer.
* Access to huge backyard perfect for outdoor entertaining.
* Central AC and radiator heat.
Second floor:
* 3 bedrooms.
* 1 full bath.
* Walk-in closet in master bedroom.
* Bright with southern exposures.
* Wood floors throughout.
This wonderful home is located in DC’s bustling Columbia Heights neighborhood, walking distance to Metro, shopping, fabulous restaurants, cafes, and entertainment.
A flat monthly fee of $300 is paid in additional to the monthly rent and includes all utilities: water/sewer, electricity and gas.
** OPEN HOUSE SUNDAY JANUARY 15TH FROM 11AM TO 12PM **
1365 Newton St. NW
3BR/1BA
$2,600/month
