2711 QUEEN ST S, Saint Petersburg, FL 33712
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.**
You may be able to put down less than the total down payment amount of $197,282 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #u8247900