3930 S Yampa St, Aurora, CO 80013
4 beds · 3 baths · sqft sqft
Don’t miss this incredible investment opportunity in Cherry Creek Schools! This spacious 4-bedroom, 3-bathroom home offers over 2800 sq ft, including 2000 sq ft above grade, and is ready for renovation to unlock its full potential. With a minimum projected after-repair value (ARV) of $550,000, this property is perfect for investors seeking a profitable fix-and-flip or a rewarding rehab-and-hold project. This home truly has “good bones,” including a 2 car garage and brand-new Class 4 impact-resistant roof and LeafGuard gutters installed in May 2024. The traditional 2-story layout features a large and versatile main floor with endless possibilities for reconfiguration. The kitchen has been partially renovated and expanded, featuring newer stainless appliances and a custom wood ceiling. Upstairs, you’ll find a vaulted primary suite with dual closets and an ensuite bath with a skylight, plus three additional spacious bedrooms. Laundry is conveniently located on the upper level, and the newer washer and dryer are included in the sale. The unfinished basement offers significant value-add potential, providing the opportunity to transform this property into a 5-bedroom, 4-bathroom home. Sitting on a 9500+ sq ft lot, this yard and curb appeal have amazing potential. This property is located in the desirable Cherry Creek Schools district, adding to its appeal for future buyers. With the spring market approaching, the timing is ideal to start this profitable project this year and have it market-ready right as prime selling season begins*Showings begin Thursday, November 14th, with offers due by Sunday November 17th. The seller seeks “As-Is” cash or hard money offers with a quick closing and a rent-back until December 15th. Offers should also include terms allowing the seller to leave any and all personal property, both inside and out. Bring your vision and tools to transform this property into its next chapter!
Source: RECO #1554671
Interest rate and monthly payment estimated based on public records.
Source: RECO #1554671
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: #1554671
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