Coming Soon. Opportunities like this do not last. Turnkey! Currently generating approximately $4,800/month, this property offers immediate cash flow. The unit mix supports strong demand, with studios, one-bedroom, and two-bedroom layouts already performing in today’s rental market. The flexible third-floor configuration provides added upside and can function as an additional unit, owner’s suite, or premium rental. This property stands out for its infrastructure and systems already in place—a major advantage for investors looking to move quickly. Features include a full camera system, building-wide fire alarm and sprinkler system, key fob access, and programmable smart locks on every interior and exterior door, allowing for seamless, remote management. All systems are fully transferable. **Additional income is generated through on-site commercial laundry with a cashless PayRange system!** Currently operating as a successful short-term rental, the property is also well-suited for mid-term or long-term tenants, senior living, or residential service use. Zoned quadplex, offering flexibility that is increasingly rare in today’s market. Property is being sold As-Is. Serious investors are encouraged to act quickly - income-producing, stabilized assets with this level of security and flexibility are in limited supply. Key features: Smart Access • Sifely smart door locks – Bluetooth & remote access keyless entry with code management and activity tracking Heating & Cooling • TOSOT (Green) mini-split system – Bluetooth & app-based remote access for energy-efficient heating & air conditioning • Backup in-wall heating controlled by Mysa smart thermostats – Bluetooth & remote temperature control Security • Blink security camera system – Bluetooth-enabled with remote app access for monitoring and alerts Laundry • Maytag Commercial washers & dryers – PayRange enabled with Bluetooth & remote payment access Send over your offer 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.
