3114 Dupont St S, Gulfport, FL 33707
4 beds · 3 baths · 1,984 sqft
INVESTOR SPECIAL! Major $100K Price Adjustment - Post Hurricane Discount! Seller is willing to consider the option of “Subject-To” seller financing as a Purchase/Acquisition scenario. The Current Mortgage interest rate is 2.5% and "minimum" payments of $3,200 a month +T&I (Taxes & Insurance) would be required for the assumable portion of the loan with a "satisfactory" Down Payment. A balloon payoff would be required within 18 months to allow "Purchaser/Buyer" the time and capital to make "post storm" renovations. Durable Metal Roof, Block Construction with a total of 3 residential living units. Currently zoned as a "Duplex" with a separate additional 2-Bed, 1-Bath Living area above the 2-Car Garage. Note: The Finished 3rd Living area above the Garage includes an additional 700 SqFt of "Living Space" that is not currently reflected in the Public Records. The street level (ground floor) Duplex, units 3114 and 3116 feature Two 1 Bedroom & 1 Bathroom Units. Both units can be positioned as short term (rental) income properties for seasonal "guests" or they are equally suitable for a long term tenant. This fantastic property offers tremendous Living and income opportunity in one of the more sought after beach communities of Tampa Bay. This Duplex (+1) is a short stroll to the Gulfport Beach Park and Rec Center on Boca Ciega Bay. Close to all the shops, cafes and restaurants. This property features a Large Two Car Garage with the Additional Living Unit, above the garage. Located in the eclectic and quaint Gulfport Waterfront and Art District (The Dunedin of South Pinellas County), one Block to the Boulevard Lined with Restaurants, Bars, Shops, and Of Course, the Beautiful Waterfront & Historic Casino. Sand Volleyball, Playground & Fishing Pier with a Boat Marina nearby. Unit 3114 is currently Homesteaded as the Sellers live in the Additional Space upstairs. Income options for the entire space (all 3-Units) could range from VRBO/AirBnB to longer term rentals. Recent Updates include a New Metal Roof: $30k, New privacy PVC fence, New ceiling in garage. The additional living space above the garage was renovated and permitted. The completed renovation updates include framing, plumbing, electrical, new AC ductwork and HVAC system, new impact/storm windows, new stairs, new flooring, new paint, updated bathroom. Additional Upstairs Residential Unit (2-Bed, 1-Bath living space) Dimensions (Provided by Owner in Inches): Living room 275x151; Bedroom-1 132x121; Bedroom-2 132x121. Both bedroom measurements do not include the closet space. Bathroom 103x69. AC duct work replaced in 2021. More information on rental income - Available on Request. "Projected Income" based solely on potential Annual Rent. Seasonal Income could be significantly higher. All "rents" are "market driven" and are subject to fluctuation based on demand. Updated 'Main Water Line' to street has recently been fully replaced (from the Main City Shut-Off Valve). All New Pipes!!! Total SqFt includes additional 700 SqFt for finished 3rd Living space above the 2-Car Garage. The fully renovated 2/1 Apartment above the garage is 100% Turn-Key and livable. New owner can live onsite while supervising post storm renovations. All interior photos of ground floor units are "pre-storm" images.
Source: STELLAR #u8248984
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #u8248984
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: #u8248984
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