2903 Avenue B # A, Holmes Beach, FL 34217
4 beds · 4 baths · 1,464 sqft sqft
ASSUMABLE 3.75% MORTAGE and NO HOA FEES! EXCELLENT INVESTMENT OPPORTUNITY ON ANNA MARIA ISLAND! The price includes both sides of this DUPLEX, featuring 2 Bedrooms and 2 Bathrooms each. The VA loan is assumable at a favorable rate of 3.75% and you DO NOT need to be a veteran. And did mention there are no monthly HOA fees to worry about. Noteworthy recent updates include new hurricane-resistant windows and doors installed in 2023, as well as ground-level block construction and beautifully restored Terrazzo flooring throughout both units, ensuring durability and longevity. The A/C units were installed in 2022 and 2018. The kitchens and baths have been tastefully updated, with granite counters added in 2023. Additionally, there is shared laundry with a new washer on the premises, installed in 2022. The property has been freshly painted inside and out. Maintenance free gravel areas and landscaping have been added, providing ample parking for guests. The shared backyard boasts a spacious 16'3" x 8'7" swim spa/pool, installed in 2022, offering a great place for you or your guests to relax in a hot tub, exercise against the river jets, or cool off with a quick dip – you decide the temperature. The potential of this property knows no bounds and presents numerous possibilities. The current owner has gone above and beyond to create an exceptional vacation rental property that consistently generates income. Alternatively, you have the option to live in one unit while earning income from the other. Both the front and back units are nearly identical, allowing for the possibility of combining them into a spacious single home. Another potential option is to legally separate the units individually through a condominium plat, keep one for yourself and sell the other. The large lot, approximately 5,000 square feet in size, also opens doors to future expansion opportunities. Located on a quiet cul-de-sac and just 7 houses away from the powder soft sand beaches and the vibrant turquoise waters of the Gulf of Mexico. Even during the vacation season, on-off island access remains convenient along with being close to shopping, dining, grocery and entertainment. With its unique design and sought-after location, this multi-family property offers an excellent opportunity for immediate income and/or living your island life dream. Don't miss out on this exceptional income-generating gem! This is a monthly rental.
Source: STELLAR #a4609567
Source: STELLAR #a4609567
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.
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: #a4609567