Welcome to 5572 100th Way N, St. Petersburg, FL, a beautifully renovated, 3-bedroom, 2-bathroom home with a 1-car garage, screened in patio, proven Airbnb income potential, and unbeatable location in unincorporated St. Pete where short-term rentals are allowed. This turnkey investment property is currently operating as a successful Airbnb and is ready for immediate income production or full-time Florida living. From the moment you arrive, you’ll appreciate the extensive upgrades and modern improvements throughout. This move-in ready St. Petersburg home features timeless terrazzo flooring, updated plumbing, crown molding, new baseboards, and stylish furnishings included with the sale. The open and inviting layout creates the perfect blend of comfort, functionality, and Florida charm. Major updates include a 2023 metal roof, 2023 AC system, new double-pane windows, hurricane impact front and side doors, new water heater, and a new sprinkler system utilizing well water. Energy-efficient solar panels will be paid in full at closing, helping keep electric costs low at approximately $40/month. Step outside into your private backyard oasis featuring a relaxing hot tub and fire pit area, ideal for entertaining guests, vacationers, or enjoying peaceful Florida evenings. Whether you’re seeking a primary residence, second home, or high-performing short-term rental investment, this property checks every box. Located in a desirable NON-flood zone, this home offers peace of mind while being just minutes from world-famous Gulf beaches, top-rated restaurants, shopping, bars, entertainment, downtown St. Petersburg, and Tampa Bay attractions. Its prime location makes it highly desirable for Airbnb guests and vacation renters year-round. Opportunities like this are rare: a fully renovated, fully furnished, income-producing Airbnb property in unincorporated St. Petersburg with no flood insurance required. Schedule your private showing today and start generating income from day one.
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.
