$655,000

16 GALVESTON PL SW, Washington, DC 20032

  • 2,800 sqft
  • Property Icon Triplex
  • Property Year Built Icon Built in 1944
  • Property Lot Size Icon4,792sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $234/sqft
  • Property List Date Icon Listed 2 days ago

Property Description

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.

Listing Status:
Active
Date Added:
April 3, 2026
Data Last Updated:
April 5, 2026 at 7:17AM
Listing Office:
Keller Williams Capital Properties : 2022437700
Listing Agent:
Abel M Gebremichael : 2026010160
MLS ID:
DCDC2250342
  • A/C: Central A/C
  • Heating: Heat Pump(s)Electric
  • Disability Feature: None
  • General: Above GradeBelow Grade
  • Style: Other
  • General: BrickOther
  • Originating MLS: BRIGHT_MAIN
  • School District: DISTRICT OF COLUMBIA PUBLIC SCHOOLS
  • County: WASHINGTON-DC
  • Zoning: R-26239/S/0027
  • Water: Public
  • Sewer: Public Sewer
  • Source: BRIGHT_MAIN

This listing courtesy of Abel M Gebremichael , Keller Williams Capital Properties

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

P

Patterson Elementary School

4399 S Capitol Ter SW, Washington, DC, 20032

Grades EE-5

0.17 miles away

H

Hart Middle School

601 Mississippi Ave SE, Washington, DC, 20032

Grades 6-8

1.06 miles away

B

Ballou Stay High School

3401 4th St SE, Washington, DC, 20032

Grades 9-12

1.03 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.