Renovated Greystone 2-Unit Building with Value-Add Potential in West Garfield Park. Welcome to 4351 W Maypole Ave, a beautifully rehabbed multi-family Greystone nestled on a well-maintained, pride-filled block in Chicago's rapidly growing West Garfield Park neighborhood. This turnkey 2-unit property offers the perfect blend of modern updates, classic Chicago charm, and additional upside with a semi-finished basement ready for your vision. Property Overview: This stunning building features 6 bedrooms and 2 bathrooms across two spacious units, each thoughtfully updated with today's finishes while maintaining timeless character. Whether you're an owner-occupant seeking rental income or an investor looking for strong cash flow and appreciation, this property checks every box. Unit Features: 1st Floor Unit: Fully rehabbed 3-bedroom, 1-bath layout with in-unit laundry, ideal for owner occupancy or premium rental income 2nd Floor Unit: Bright, sun-filled 3-bedroom, 1-bath also with in-unit laundry and a functional, desirable layout Interior Highlights: Modern kitchens with granite countertops, sleek cabinetry, and stainless-steel appliances Hardwood flooring throughout with ceramic tile in kitchens Open-concept layouts offering flexibility and comfort New plumbing, electrical, and HVAC systems for peace of mind Exterior & Additional Features: Spacious fenced backyard-perfect for entertaining, relaxing, or summer BBQs Paved parking area with secure gated access Classic Greystone curb appeal on a quiet, attractive block Value-Add Opportunity: The full, open basement offers endless possibilities-expand living space, duplex down, or create an additional unit (subject to zoning). A prime opportunity to increase equity and maximize returns. Location & Conveniently located just minutes from: Garfield Park & Conservatory, CTA Blue Line, & I-290 Expressway. Downtown Chicago, dining, shopping, and entertainment. Situated in a neighborhood experiencing ongoing revitalization, this property presents a compelling opportunity to invest in Chicago's West Side growth. Investment Potential: Live in one unit and rent the other Rent both units for strong income Add value through basement expansion Space to live. Income to grow. Style to love. Don't miss your chance to own this beautifully updated, income-generating property. **Schedule your private showing 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.
