Experience the perfect blend of waterfront luxury and income potential in this unique Key West Inspired, thoughtfully designed, luxury, custom home. The primary residence boasts 2BD/2BA, and features open-concept living with over-sized, sun-drenched windows, hardwood floors and soaring 10-foot ceilings. A two-sided see-through gas fireplace anchors the main living space, offering warmth and elegance from every angle, and a large chef's dream kitchen with plenty of storage, granite countertops, KraftMaid cabinetry, double ovens, and soft-close drawers and doors. Finish your perfect day of boating and fishing with a therapeutic hydrotherapy experience in the oversized jetted tub paired with a fireplace. The Primary en-suite also features an oversized walk-in shower, a heated towel rack, and custom-designed vanities. Lots of upgrades please see Features & Benefits sheet available under the documents page. Versatile Second Unit: On the lower level, a separate, fully contained and equipped, beautiful 1BD/1BA apartment. The apartment features its own luxury kitchen with premium cabinetry and quartz countertops, full bathroom and large bedroom. The private entrance makes this a perfect space for extended family, extra rental income or even a home office. Thoughtfully designed and impeccably constructed, this residence exudes sophistication, strength, and style. Spanning 3,006 square feet of living space, plus 536 square feet of unfinished air-conditioned attic, this 3-bedroom, 3-bathroom home showcases ICF (Insulated Concrete Form) construction, steel-reinforced and concrete-filled for unmatched durability, energy efficiency, and peace of mind. Property Highlights: " Solid ICF (Insulated Concrete Form) construction with steel-reinforced, concrete-filled walls " One owner; original blueprints available " Versatile lower-level second unit with 1 bedroom and 1 bathroom " 8-foot solid wood and steel interior doors " ¾-inch rich cherry hardwood flooring " Granite stone countertops in the main kitchen " Soft-close cabinetry in both kitchens " Tall 8-inch baseboards and custom wood crown molding throughout " Bullnose drywall corners " Abundant natural light throughout " Elevator shaft (currently dual pantries), pre-plumbed and ready for an 8-foot residential elevator " Climate-controlled hurricane/panic room for safety and secure storage " Climate-controlled attic space (approx. 11' x 40') " Climate-controlled garage/workshop " Boat shed on dock plus large dockside storage shed " Additional plastic garden shed Outdoor living is equally captivating. Enjoy your morning coffee on the full wraparound porch with spectacular water views of spring-fed Lake Saranac, the St. Johns River, and the neighborhood Harbor, while listening to the tranquil sounds of the waterfall. Depart from your private dock, with a 12,000-lb elevator boat lift, to enjoy endless days of fishing the St. Johns River, cooling off at the nearby sandbars or a day of swimming in the crystal clear waters of Salt Springs and Silver Glen. The Seller is open to sell the additional waterfront lot located across Gibbs Road, offering a rare opportunity to expand your waterfront lifestyle or investment potential. The lot fronts spring-fed Lake Saranac, which flows directly into the St. Johns River. The parcel measures approximately 154' x 57' with approximately 45 feet of frontage on Lake Saranac, making it ideal for a separate residence for in-laws or extended family, a guest cottage, or an additional income-producing home, subject to applicable zoning and permitting. Nestled within a desirable, quiet waterfront neighborhood, with newly paved roads, this home radiates tranquility and understated luxury, the perfect blend of craftsmanship, comfort. It is a rare opportunity to own a home built for a lifetime. Schedule your private tour today.
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.
Data provided is deemed reliable but is not guaranteed. The data relating to real estate for sale on this website comes in part from the Northeast Florida Multiple Listing Service, Inc. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2026 Northeast Florida Multiple Listing Service, Inc. All Rights Reserved.
