4-Unit Brick Multi-Family with Income & Owner-Occupant Potential 2209–2211 Jules Ave | St. Louis, MO Well-maintained 4-unit brick multi-family property offering a strong blend of current income and future flexibility. Two units on the 2209 side are tenant-occupied, providing immediate rental income, while the 2211 side is vacant, creating an excellent opportunity for renovation, customization, or owner occupancy. This layout is ideal for buyers seeking to occupy one unit while leasing the remaining units, allowing rental income to help offset ownership expenses. Property Features: Four total units (two units at 2209 and two units at 2211) Two tenant-occupied units; two vacant units Spacious units with flexible floor plans High ceilings, large windows, and classic St. Louis architectural character Brick exterior with separate entrances Separate utilities for each unit Recent Improvements: 2211: Two new water heaters 2211: New sewer lateral to exterior yard 2209: Sewer stack replaced and partial sewer lateral updated Location Highlights: Centrally located near SLU, Downtown St. Louis, Soulard, and Lafayette Park Easy access to major highways and public transportation Close to hospitals, dining, shopping, and employment centers Area supported by continued development and rental demand Opportunity Summary: This property offers versatility for both investors and owner-occupants seeking a multi-family asset with existing income and additional upside. Vacant units allow buyers to add value, personalize finishes, or establish on-site residency while maintaining rental income from other units. Schedule a showing to explore the flexibility and long-term potential of 2209–2211 Jules Ave.
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.
