16 Galveston Pl Washington, DC 20032

Listing details for 16 Galveston Pl, Washington, DC 20032 : 2.375% ASSUMABLE FHA LOAN | $655,000 BALANCE | $4,121.45 PITI. This 3-unit property offers a rare opportunity to assume an FHA loan at a 2.375% interest rate, originated in December 2021 with a maturity date of January 2052. Based on current market rates, this assumption represents a projected savings of over $400,000 in interest over the life of the loan. STRATEGY: Total PITI is currently $4,121.45. An owner-occupant can reside in the 3-bedroom unit while utilizing the rental income from the two 2-bedroom units to offset the monthly mortgage payment. This asset is well-positioned for those seeking to maximize cash flow through the DC voucher program or market-rate rentals in a resilient submarket. -------------------------------------------------------------------------------------------- DISCLAIMER & DISCLOSURE: Property sold strictly AS-IS. To the seller's best knowledge, the loan is FHA assumable; however, the Buyer is solely responsible for performing all due diligence regarding loan assumption requirements, eligibility, and lender terms. Buyer is responsible for confirming and completing all due diligence related to the Certificate of Occupancy (CFO) and Basic Business License (BBL). Seller and listing agent make no representations regarding future rental income or regulatory compliance. TRANSACTION TERMS: Asking price reflects the loan balance. Buyer is responsible for 100% of closing costs and all broker fees.