This classic 1915 brick home blends timeless historic charm with thoughtful modern updates in one of St. Louis’ most walkable and sought-after locations (6 min walk to Forest Park)! Original hardwood floors, 13 stained-glass windows, and beautifully preserved millwork showcase the home’s character, while modern systems and finishes provide today’s comfort and functionality. The main level features a welcoming living room with a decorative fireplace, a formal dining room highlighted by boxed ceiling beams and ornate lighting, and a bright kitchen with custom cabinetry, granite countertops, and stainless-steel appliances. French doors lead to a four-season sunroom, ideal for a home office, reading room, or additional living space, and a convenient main-floor powder room completes the level. Upstairs, the spacious primary bedroom offers exceptional scale and character with two walk-in closets, accompanied by additional well-sized bedrooms and an updated full bath that balances classic style with modern finishes. The full walk-out lower level includes an additional bathroom and provides excellent storage or future finishing potential. A detached two-car garage adds rare convenience for the area. Major updates include roof, HVAC, windows, plumbing, and kitchen improvements, making this a truly move-in-ready property. The home is located just a 6-minute walk to Forest Park, one of the largest and most celebrated urban parks in the United States, spanning approximately 1,300 acres and featuring miles of trails, cultural institutions, and an 18-hole public golf course. The property is also just a 12-minute walk to Barnes-Jewish Hospital, the largest hospital in the Midwest, and is conveniently positioned near both Washington University’s main campus and medical campus. Historically, this home has been leased to Washington University professors and physicians affiliated with BJC, making it an exceptionally proven rental location. The property is currently leased for $2,995 per month with the existing lease in place through June 28, 2026, generating $35,940 in annual income and providing immediate cash flow with long-term upside. For investors exploring mid-term rental strategies, leasing the home furnished through platforms such as Furnish Finder to traveling physicians or nurses is projected to generate approximately $4,500 per month, or $54,000 annually. An open house will be held on Sunday, February 1st, from 1:00–3:00 PM. Offers are due by Monday, February 2nd, 2026 at 7:00 PM, and the winning offer will be selected by Tuesday 2/3 at 3:00 PM. This home is currently leased, there will not be any showings until the open house unless there is an accepted offer with proof of funds. A rare opportunity to own a character-rich, income-producing home in an A+ institutional and lifestyle-driven location.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
