1117 E Garfield St, Phoenix, AZ 85006
- beds · 0 baths · sqft sqft
Beautifully maintained Duplex in the heart of the Garfield Historic Neighborhood and one of Downtown Phoenix's most desirable zip codes! Property includes two separate homes with well-manicured black mulch and gravel front common areas, homes do not share walls! Property has been meticulously and continually updated over the past five years. Each home features completely updated kitchens with stainless steel appliances, separate laundry areas with full size Whirlpool washers & dryers. New 2023 asphalt roof and gorgeous new 20 mm vinyl flooring in unit 1117. Both units feature vaulted ceilings in the bedrooms, new LED lighting, all new ceiling fans, stylish color pallets and unique design features such as wood accent walls and stone backsplashes. Great natural light in each unit through large windows and adjustable blinds. Front garden bed offers beautiful, drought tolerant cacti and palms, watered weekly with timed irrigation system. Gravel parking in front fits a half dozen cars or more, along with ample street parking. No HOA! Property is zoned R3 residential, city has confirmed development of additional unit is possible at any time. Units are leased to June 30th and July 31st respectively. Property is steps away from fun events on Roosevelt Row, restaurants like Welcome Diner, Gallo Blanco and only 1.5 miles from Chase Field, Fry's Grocery, EoS Gym and CityScape. Sale includes all appliances, spacious shed built in 2020, a new two car carport built in 2023. Both units are currently occupied, please do not disturb tenants!
Source: ARMLS #6684042
Interest rate and monthly payment estimated based on public records.
Source: ARMLS #6684042
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
MLS ID: #6684042
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