614 Sligo Avenue UNIT 410
Silver Spring, MD 20910

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 Road Purchase vs renting analysis: Sale price: $175,999 with 20% down = $35,200 Loan amount: $140,800 at 3.0% interest, Monthly mortgage = $594 Taxes and insurance/mo = $199 Condo fees= $823/mo TO BUY , Total monthly payment to own = $1,616.00 - annually = $19,392 TO RENT 2 Beds/1bath in the area is around $1,800 per month - annually $21,600 A saving of $2,208/year when purchase Conclusion: 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.