308 Patterson Ct, Takoma Park, MD 20912 – Is it or Isn’t it Multifamily Like No Other

308 Patterson Ct, Takoma Park, MD 20912 – Is it or Isn’t it Multifamily Like No Other

Buy it and See!


This is 7 units (not 4) -6 x 1BR and 1 efficiency. This Brick and Stucco Tudor Style detached multifamily is in a great location on a quiet cul-de-sac next to Long Branch Park trail and yet just a block from Carroll Avenue leading to downtown Takoma Park Historic Area Restaurants and Stores one way, and Takoma/Langley future Purple Line station and shopping Mall in the other. Buses in all directions and close by Columbia Union University. This is a hot location that renters desire. Easy to rent with 6 one-bedroom units and 1 large studio; all completely self-contained with own bathrooms and kitchen. Better still it is outside of the City limits so not subject to the Rent Stabilization Law and is in fact in unincorporated Montgomery County. It features common gas hot water radiator heating; the best type that tenants love. There are two gas-fired hot water heaters, and the electric box has been upgraded to a circuit breaker. There's a separate laundry room in the basement with leased machines and rental income. There's parking for 7 cars in the rear of the property and more out front. It's a pretty lot with a grassy area and hedge in the rear with room for tenants to stroll and just 50 yards away is the Long Branch Park trail that runs in both directions for jogging/walking. All units currently rented and room for future improvements with unfinished attic space and balcony not currently in use. They were all inspected in April 2019 by Montgomery County and passed. 3 units are recently completely remodeled, and the seller has spent 100K in recent improvements/repairs. 7.46% cap rate. Gutters and downspouts are new. Here is a great opportunity to get into the multi-family housing market in a pleasant location where you can set market rents in the future.


308 Patterson Ct, Takoma Park, MD 20912 – Is it or Isn’t it Multifamily Like No Other is 7 units (not 4) - 6 x 1-bedroom apartments and 1 efficiency/studio apartment. Showing Schedule is M-F 10 am to 4 pm Saturday 12 or 1 pm - please request a showing schedule as not all units may be available for showing at one same-time and No Saturday showing!.

If you can't see the value in this ask, you are not a real estate investor.

Bye Bye!

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Don’t Miss an All 4-Unit Open House in Heart of Historic Takoma Park on Sunday

Don’t Miss an All 4-Unit Open House in Heart of Historic Takoma Park on Sunday

When will you get another opportunity like this one?

David Mapelsden is hosting Open House for all the four units in 7127 Carroll Ave, Takoma Park, MD 20912 this Sunday from 1:00 PM to 4:00 PM!

Classic 1927 4 Square Multi-family property in the heart of the Historic District of Takoma Park City that's just 0.7 of a mile from Takoma Metro Station and a short stroll from the Takoma Cooperative Store, many restaurants and the Town Hall & Library. The public record shows 3,822 square feet of living area here and there is plenty of parking for 7/8 cars at the rear accessed by a driveway on the side. You'll love the high ceilings and big windows that flood it with natural light! The property has 4 completely separate units, each with its own bathroom and kitchen; essentially 4 levels with a unit on each level. There are 3 two-bedroom units and one studio on the top level. The owner pays water/sewer/gas and electric (see Income/Expense figures as a separate document) and it features economical and popular gas boiler radiator heating. The cooking is also all gas which renters prefer. The heating is 2 zoned with a separate thermostat for the lower level unit 4. This is easy to rent are and tenants love it here. It's been held vacant in 3 units to give buyers the opportunity to owner occupy and/or choose their own new tenants. It's great for somebody in the area in a larger home who wanted to downsize and with another home at the beach but prefer to keep a footprint in Takoma and get mortgage help from the rental units. Good too as a move-up home where a buyer can occupy the 2nd level 2BR unit or perhaps merge with the top studio (it would make a fabulous owner suite). The property has been lovingly maintained and updated by longtime owners (see the County Inspection Record in Disclosures with no violations for the last two inspections), and the boiler is recent, while a required sprinkler system in the basement has been installed. The rear sewer line was replaced in the past while the roof is recent too. There's also a sump pump and a 50-gallon gas hot water tank in the basement. Walk to the Elementary and Middle Schools nearby. More development is scheduled at nearby Takoma Junction bringing more businesses to the neighborhood. Two of the 2BR units feature wood floors in decent condition and updated kitchens. The top and lower-level units feature newly carpeted floors with updated kitchens. The lower unit has a private rear entrance. The units have been tested for lead-based paint and reports are available

7127 Carroll Ave., Takoma Park, MD 20912
7127 Carroll Ave., Takoma Park, MD 20912

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HUD Releases $8.2B in Aid to Puerto Rico – DSNews

HUD Releases $8.2B in Aid to Puerto Rico – DSNews

puerto-rico-devastation HUD Releases $8.2B in Aid to Puerto Rico in Daily Dose, Featured, Government, News 2 hours ago 32 Views U.S. Department of Housing and Urban Development (HUD) Secretary Dr. Benjamin Carson has announced the release of an $8.2 billion in aid to Puerto Rico to assist with disaster recovery efforts. “Now that proper financial controls are in place, implementing the second phase of Puerto Rico’s disaster recovery program can move forward with an extension to…

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January 15th weekly Realtor insider with the newest Inventory Homes and Communities around

January 15th weekly Realtor insider with the newest Inventory Homes and Communities around

Here’s your January 15th weekly Realtor insider with the newest Inventory Homes and Communities in and around Washington. If you find a home or community for your clients, be sure to add it to your favorites and log it with us. $256,900 Balmoral Lane (The Carson) by Panhandle Builders 3Br 2Ba $260,990 719 River Crest Way (Hepburn) by Ryan Homes 3Br 3Ba $593,291 (Alcott) by Van Metre Homes 3Br 2Ba $360,000 14509 Hunts Farm Road (Mozart) by Ryan Homes 3Br…

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Have a Vacant Lot? This Express Modular Pre-Ordered Model is On Sale

Have a Vacant Lot? This Express Modular Pre-Ordered Model is On Sale

Express Modular Pre-Ordered Model On Sale
Express Modular Pre-Ordered Model On Sale

This isn't a standard floor plan. It was a model home that wasn't delivered to the builder. Take advantage of the opportunity! Immediate Delivery Model!

Hi Rodwell,
This home is a beautiful model home that was built by a factory for a builder that never took delivery. This means that this 1493 sq ft 3 bedroom, 2 bathroom home is loaded with extras and comes already painted!
This is a great home plan for a narrow lot.
Check out more pictures and the floor plan at ExpressModular.com.
If you want to learn more, just contact me and I can help you with the next steps towards owning a beautiful new home!

David Johnson
Modular Home Consultant
Express Modular
david.johnson@expressmodular.com
(877) 419-0356 - Work | (800) 275-7532 - Other
www.expressmodular.com

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High-Profit Real Estate Renewal Investor/Buyer Wanted

High-Profit Real Estate Renewal Investor/Buyer Wanted

1908 Quincy Street NW, Washington, DC 20011
1908 Quincy Street NW, Washington, DC 20011

House in bad Condition * Value in the land * Beautiful Lot * Sited on end of Cul-De-Sac * 3 Levels * Showings, for now, maybe limited to just viewing the outside lot * CASH only * Bring your builder * Value in Land * Beautiful Lot backing to Rock Creek Park * Sited at end of Cul-De-Sac

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Join the Realty Club! Membership has Online Real Estate Transactions

Join the Realty Club! Membership has Online Real Estate Transactions

On January 1, 2020 and any time thereafter the following Online Real Estate Transaction Services will be available for purchase in RodwellBuildingServices Realty Club.

Online Real Estate Transactions, Online Live Listing Tours, Property's Physical Needs Assessments, Buyers' and Sellers' Financial Needs Assessments

Online Real Estate Transactions are like live Auctions without the upfront deposits of Large Amounts of Funds. At all Times and Incidence, other buyers can Offer to buy any property for more than you contracted up to the moment before your Settlement.

In order to protect you and provide you with "the real services and the right properties for your order" safely and expeditiously, RodwellBuildingServices will institute the following policies formalizing our online real estate transactions confidentially via the Realty Club

Upon receiving your invitation to any transaction:

  • Please confirm the information in the Preliminary Agency Agreements and verify your mailing address so RodwellBuildingServices can establish your account and our Real Estate Agency Agreements accordingly with each jurisdiction you are interested doing any transactions.
  • Prepare the information for uploading into the Document Management System.
  1. Photocopy or Scanned copy of 2-picture IDs showing Buyers/Sellers name and picture on file.
  1. Evidence proof of all Buyers/Sellers named mailing address (State Issued Picture Identification Card and 2 other mailed documents from senders' letterhead and addressed to your present u.s.p.s. mailing address.
  1. Evidence proof of all Buyers/Sellers finances/financing: 1. Copy of banking statements showing deposit of funds to substantiate your offer or 2. Letters from responsive Lender/Mortgage Broker stating Pre-Approval or Pre-Qualifying circumstances for all Buyers/Sellers.

RodwellBuildingServices will prepare and write your offer for your review and execution prior to submitting it to all Buyers/Sellers respectively within 12-hours you demonstrate that you are able to do it with all the information above.

You are entitled to have independent inspection/survey of the property before your Settlement on that property and any time after all Buyers/Sellers contracts are ratified.

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Winchester Homes Giving Back – 40 for 40 – It’s a Win-Win

Now 40 years old, we’re experienced enough to know what matters most about the company we’ve built—you. So, to celebrate the occasion we feel it’s only fitting to invite you to join us in giving back to the community. And it truly is all about you. Residents of Maryland and Virginia are invited to donate any amount to the charity of your choosing that is eligible to receive donations through Facebook, and we’ll also make a $40 donation to that charity…

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ValueAddedRealtor Pictures Say a Lot More Than Ten-Thousand Words

ValueAddedRealtor Pictures Say a Lot More Than Ten-Thousand Words

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Are you bracing yourself to head-on a challenge you don’t have to meet?

Are you bracing yourself to head-on a challenge you don’t have to meet?

  • Has anyone ever explained the homebuyer financing assistance process to you step-by-step and how it will apply to you in your present economic circumstances?
  • Do you know what your credit score is and what's on your credit report?
  • Have you noticed any advertised interest rates you understand what they possibly have to do with you buying a house?
  • Have you discussed the kind of property are you are interested in owning instead of trying to get financing beforehand? Care to tell a Realtor about it?
  • Have you considered rolling other debt into the mortgage in order to lower payments and save money on interest?

  • What are all the complications to do about buying the customized real property that is uniquely yours? You could say that because my father and grandfather were builders and I was literally born into the industry, so, I can view the feat so lightly. You may also say that I am never easily swayed to give up when the going gets challenging so its "just another task to get done for Rodwell."
    On my LinkedIn profile, I am bringing my forefathers' vocations full circle – producing and developing custom homes to hardworking consumers in and around my immediate region. However, that is not the reason I think so casually of the triumphs of you buying real estate the way you want it and how you prefer it.

    If you answered to the affirmative or responded with "already done" to any of the opening questions above, you are well on your way to buying real estate the way you want it and how you prefer it. If you are one of our lifetime customers and already enjoying the perks that come with ownership – here is a special treat for you.

    Remember those pesky MIP (Mortgage Insurance Premiums) that initially made you hesitate to finance your purchase when you heard what it was? Remember how they say it will be for the life of the mortgage and hard to drop off?

    Well; Here is some RESOLVE!

FHA Streamline Refinance

For low- to moderate-income home buyers, FHA loans are a godsend. Because these loans are backed by the U.S. Federal Housing Administration, lenders can safely work with borrowers who would be ineligible for a conventional mortgage.

As your financial situation changes, though, you may be able to get a lower monthly payment as you pay off your home loan. An FHA streamline refinance could help you get it.

This guide will walk you through the details of an FHA streamline refinance: how it works, what type of borrower it's best for, how to meet the requirements, and more.

What is an FHA streamline refinance?

An FHA streamline refinance loan is a way to refinance an FHA loan into a new mortgage with better loan terms. It requires less paperwork and documentation than other refinance options, which makes the process easier.

Borrowers can use an FHA streamline refinance to get a lower monthly payment with an extended repayment term or a lower interest rate. Unlike conventional cash-out refinance loans, borrowers can't cash out more than $500 from the refinance loan, no matter their current home equity ratio.

FHA streamline refinance guidelines & requirements

There are some requirements the borrower must fulfill to be eligible for an FHA streamline refinance.

  • You must already have an FHA loan. You can't refinance a conventional mortgage or other first-time home buyer loans, such as a USDA loan or loan from

    high performance composite decking used in garden
    High-performance composite decking used in the garden

    VA lender.

  • The loan must be at least 210 days old with at least six months' worth of payments made.
  • You must be current on your loan and can't have had any late or missed payments in the last three months. There can only be one 30-day late payment in the previous six months.
  • There must be a net tangible benefit.

What is a net tangible benefit?

The net tangible benefit is a requirement for borrowers interested in an FHA streamline refinance. It means the new loan needs to be financially beneficial for the borrower. It almost always has to reduce your monthly payment by 5% or more through a lower interest rate or longer loan term.

Borrowers with an adjustable-rate mortgage (ARM) may also qualify as long as you're past the fixed-rate period. If you have a fixed-rate mortgage, you may refinance to a one-year ARM as long as the interest rate is two points less than the original fixed rate.

Your current mortgage lender may be able to show whether a streamline refinance will result in a net tangible benefit for your loan.

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Privacy Fencing

What's not required by the FHA streamline program?

The FHA streamline program doesn't have any income requirements, which may be useful for borrowers whose salary has recently decreased.

Also, home appraisals are optional, meaning there's no minimum home value or LTV requirement. Compare that with conventional refinance loans, which usually require the appraisal to meet a certain amount.

FHA streamline insurance requirements

When you took out an FHA loan, you had to pay an upfront mortgage insurance premium (MIP) that cost 1.75% of your mortgage. When you refinance your mortgage with an FHA streamline refinance, you have to pay that upfront fee again.

You may be able to get some of that fee refunded if you closed on the loan 36 months ago or less.

The refund amount ranges between 10% to 80% and decreases with every passing month. For example, a borrower who closed 12 months ago may receive a 58% refund, but someone who closed 24 months ago will only get 34%.

See the full article here: FHA Streamline Finance

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Dynasty Fireplaces DY-BT79

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