1511 James St, New Smyrna Beach, FL 32168
4 beds · 2 baths · 1,672 sqft
One or more photo(s) has been virtually staged. 3-Bedroom Home with Separate 1-Bedroom Suite – Ideal for Rental Income or Flexible Living Located on a quiet dead-end road, this property offers a peaceful retreat with easy access to New Smyrna Beach and local shops. Enjoy privacy and tranquility while being close to all the essentials. The property sits on a larger lot and includes two additional parcels of land—one directly behind and one beside the home—providing ample space for expansion, gardening, or creating your dream outdoor space. The main house features 3 well-sized bedrooms and 1 bathroom, with a spacious, open living area that’s perfect for family gatherings or relaxation. The cozy living room is centered around a warm fireplace, creating a welcoming space for chilly evenings or unwinding at the end of the day. The kitchen has been updated with new cabinets and beautiful butcher block counters, offering a stylish and functional space with plenty of storage and an open layout for cooking and entertaining. The attached mother-in-law suite is ideal for additional income, guests, or multi-generational living. With its own private entrance, the suite includes 1 bedroom, 1 bathroom, a comfortable living room, and a kitchen, making it a completely self-contained living space. Step outside and enjoy the large backyard, shaded by mature trees, and cool off in the above-ground pool—perfect for hot summer days or simply relaxing outdoors. The covered and enclosed back porch has been used as a workshop and for storage but offers endless possibilities—turn it into a home office, craft room, or extra living space to suit your needs. Whether you're looking for a family home, rental income potential, or simply more room to grow, this property offers the perfect combination of comfort, flexibility, and opportunity.
Source: STELLAR #tb8321781
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #tb8321781
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: #tb8321781
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.