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All Opinions Are Local
Posted at 02:32 PM ET, 06/12/2013

Live like a governor for $14,000 a month


As I wrote a couple months ago, two of the massive Cooke’s Row houses on Q St. just west of 30th are for sale. That includes the home at 3023 Q St. that was the residence of Henry Cooke himself, the first governor of D.C.

And if you can’t pony up the $5 million it’s listed for, don’t worry. It still can be yours temporarily if you can come up with $14,000 a month in rent.

At first, that sounds like a preposterous amount, but it’s actual a deal if you think about it. The going rate for a 1,500-2,500 square-foot row house in Georgetown is probably around $4,000 to $5,000. This house is 8,500 square feet. So for $14,000 a month, you’re paying less per square foot.

Plus, $14,000 a month would only support a mortgage of about $2.5 million or so. To get a $5 million dollar house for it is a steal (albeit a temporary steal).

Topher Mathews blogs at The Georgetown Metropolitan . The Local Blog Network is a group of bloggers from around the D.C. region who have agreed to make regular contributions to All Opinions Are Local.

By  |  02:32 PM ET, 06/12/2013

 
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