Description
This lovely 2 bedroom gem is located right in the heart of Silver Spring. Minutes from downtown. Totally renovated condo with fresh paint, Granite counters, ceramic back-splash, stainless steel appliances, custom closets and energy efficient windows. All utilities are included in the condo fee. One assigned parking spot and visitor or street parking for additional vehicles. Walking distance to public transportation. Within minutes to I-495, Colesville RoadPurchase vs renting analysis:Sale price: $175,999 with 20% down = $35,200Loan amount: $140,800 at 3.0% interest, Monthly mortgage = $594Taxes and insurance/mo = $199Condo fees= $823/moTO BUY , Total monthly payment to own = $1,616.00 - annually = $19,392TO RENT 2 Beds/1bath in the area is around $1,800 per month - annually $21,600A saving of $2,208/year when purchaseConclusion: It is smart to purchase instead of renting. The equity of the house will most likely increase and the interest fees will be tax deductible.Disclaimer: The exercise shown above merely for illustration purpose. Accurate figures will be calculate by a lender.
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2BEDS
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N/AACRES
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1BATHS
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01/2 BATHS
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1,083SQFT
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$163$/SQFT
School Information
Description
This lovely 2 bedroom gem is located right in the heart of Silver Spring. Minutes from downtown. Totally renovated condo with fresh paint, Granite counters, ceramic back-splash, stainless steel appliances, custom closets and energy efficient windows. All utilities are included in the condo fee. One assigned parking spot and visitor or street parking for additional vehicles. Walking distance to public transportation. Within minutes to I-495, Colesville RoadPurchase vs renting analysis:Sale price: $175,999 with 20% down = $35,200Loan amount: $140,800 at 3.0% interest, Monthly mortgage = $594Taxes and insurance/mo = $199Condo fees= $823/moTO BUY , Total monthly payment to own = $1,616.00 - annually = $19,392TO RENT 2 Beds/1bath in the area is around $1,800 per month - annually $21,600A saving of $2,208/year when purchaseConclusion: It is smart to purchase instead of renting. The equity of the house will most likely increase and the interest fees will be tax deductible.Disclaimer: The exercise shown above merely for illustration purpose. Accurate figures will be calculate by a lender.
©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Riffle Group of Keller Williams Select Realtors. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-01-27T10:53:20.553.