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The Cribline House Pick of the Week - October 16, 2011 (www.thecribline.com) | Real Estate

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The Cribline House Pick of the Week - October 16, 2011 (www.thecribline.com)
Real Estate
The Cribline House Pick of the Week - October 16, 2011 (www.thecribline.com)

Good morning Cribline readers.

This week, we started off in Dupont Circle, then went through Georgetown, and finally zeroed in on the Foxhall neighborhood around Reservoir Road. This week’s pick and honorable mentions are all located in Foxhall.

The pick is a stunning home at 1450 Foxhall Road, NW

This is a one of a kind custom 6 bedroom 6.5 bath home with all the trimmings. It is nearly 6,000 square feet and offered at $2,390,000 by TTR Sotheby’s International Realty.

This home is city living at its best. What one might want, but cannot get, in a traditional turn of the century row house–such as large closets, a mud room, a huge kitchen, a work out room, and an 11,000 square foot yard–this property has it all.

More features include 10 foot ceilings, natural stone and hardy plank exterior, custom designed mill work throughout, top of the line kitchen appliances, a library with build-ins, two fireplaces, an expansive deck off the main level, marble and stone & porcelain tile baths, and 2 car garage.

This is a masterpiece designed by Studio Z and built by Foxhall Developers.

To the Point Analysis:

At $2.390,000 and 20 percent down of about $480,000, the mortgage amount will be around $1,900,000. The Cribline estimates a mortgage interest rate of around 4.5 percent and a principle, interest, taxes and insurance payment of around $11,800/mo.

After applying the tax deductions of mortgage interest and property taxes, The Cribline estimates a final net payment of just over $8,000/mo.

If this home appreciates at just 4 percent a year, that would easily absorb the $8,000/mo payment and would essentially mean that the owner would live for free.

There are 2 honorable mentions this week:

4431 Greenwich Pkwy for $699,000 (with an in-law suite)

And,

4431 Q Street for $630,000

HISTORY OF FOXHALL

The charming Foxhall mirrors a small European village and is a close walk to Georgetown. Georgetown University and its hospital are directly to the East.

The name Foxhall comes from one of the area’s early residents, Henry Foxall, an English gentleman and friend of Thomas Jefferson. Mr. Foxall lived in a large home called Spring Hill Farm which was located at what is now 44th and P Street. In 1799 he built the Columbia Foundry, producing cannons and munitions from 1803 until 1854 in today’s Glover-Archbold Park. During the War of 1812 the foundry was the intended target of British troops, but as they marched from the burning White House toward the foundry, a thunderstorm drove them back.

Construction on Foxhall Village began in the 1920s when Harry Boss returned from a trip to Bath, England. He was determined to replicate the stuccoed Tudor-style houses he had seen. His construction company, Boss & Phelps, built their first homes on Greenwich Park and Reservoir Road. By 1927 almost 150 homes were completed.

To learn more about Washington real estate, and if you have questions about real estate matter, visit The Cribline at www.thecribline.com

 

 

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