2711 Queen St S, Saint Petersburg, FL 33712
4 beds · 3 baths · 3,206 sqft
Unrivaled Opportunity - Cash Only Deal **Prime Location Near Lake Maggiore: 4-Bed, 3-Bath Single-Family Home** Discover the benefits of this prime single-family residence situated near the very sought after serenity of Lake Maggiore. Situated on a spacious half-acre lot flanked by two parcels, this 4-bedroom, 3-bathroom home awaits the creative touch of its next owner to bring it to its full potential glory. Boasting a recent partial renovation that introduced an expansive open floor plan concept with modern touches, this residence offers a seamless flow of space, perfect for both (relaxed) daily living and (effortlessly) entertaining guests. Imagine hosting gatherings in the spacious living areas, where ample room allows for comfortable socializing and making cherished memories. The home is approximately 80% complete, providing a canvas for personalization. The master bathroom and a few miscellaneous areas await their final touches to fulfill their luxurious promise. This opportunity allows discerning buyers to customize and complete the residence to their exact specifications, ensuring both practical functionality and aesthetic appeal. Outside, the expansive backyard could become your own private retreat. With ample space available, there is potential to create an outdoor oasis featuring a refreshing pool, surrounded by lush landscaping and a serene patio area—an ideal setting for relaxation and enjoying the year-round Florida sunshine. Located in a highly desirable area, this property offers more than just a home; it promises a lifestyle of convenience and accessibility. Positioned centrally, this property provides a quiet urban sanctuary with easy access to Downtown St. Petersburg, Tampa's bustling city life, and the renowned beaches/ parks of Pinellas County. Whether you're seeking a peaceful escape or a vibrant urban experience, this property combines potential, location, and value, making it an exceptional opportunity for investors and residents alike. **Note: This property is being sold as a cash-only deal, priced to sell and perfect for investors looking to add value to a nearly completed project.**
Source: STELLAR #u8247900
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #u8247900
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: #u8247900
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.