Excellent investment opportunity in De Leon Springs. This duplex located at 4849 Grand Ave offers strong income potential and flexibility for both investors and owner-occupants. Whether you are looking to expand your rental portfolio, generate passive income, or live in one unit while renting the other, this property presents a great opportunity in a desirable area. The duplex features two units, each offering 2 bedrooms and 1 bathroom, with a total of 1,728 square feet of living space. Both units feature comfortable layouts with spacious living areas, decent sized kitchens and bedrooms designed for everyday living. Separate entrances provide privacy for each unit, making the property attractive for long-term tenants or multi-generational living arrangements. Situated on a generous lot, the property provides plenty of outdoor space for tenants to enjoy while still offering privacy between the two units. The yard creates potential for outdoor seating areas, gardening, or simply enjoying the peaceful surroundings that make this area so appealing. A roof approximately 8 years old provides added value and peace of mind for the future owner, helping reduce the likelihood of major near-term expenses. Duplex properties like this are highly sought after due to their versatility and consistent rental demand. Located in the quiet and charming community of De Leon Springs, the property offers the perfect balance of rural charm and convenient access to nearby amenities. Just minutes away is the popular De Leon Springs State Park, known for its crystal-clear natural spring, swimming, kayaking, hiking trails, and the historic Old Spanish Sugar Mill Restaurant where visitors can cook their own pancakes at the table. The property is also a short drive to the vibrant and historic downtown area of DeLand, known for its award-winning Main Street, unique boutiques, restaurants, coffee shops, and year-round festivals and community events. Residents enjoy convenient access to shopping, dining, medical facilities, and major roadways while still being able to enjoy the relaxed lifestyle this area is known for. Income-producing duplexes in this location are becoming increasingly desirable due to the area's growth, rental demand, and proximity to parks, recreation, and downtown DeLand. Whether you are looking for a solid long-term investment, an opportunity to offset your housing costs, or a property with flexible living arrangements, this duplex offers strong potential and lasting value.
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.
