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405 Lucille St

Albany, GA 31707

3 beds · 2 baths · 1,718 sqft

$114,999

$795/mo at 4.87% with Roam

$864/mo at 7% with a bank loan

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About this home

Here's your chance to acquire a reliable, tenant-occupied property with a long-term lease already in place. The current tenant has been consistently excellent and easy to work with, making this a steady investment opportunity. Please respect their privacy and do not disturb the tenant; instead, reach out directly for further information. Don't miss out on this unique opportunity to capitalize on another investor's move. Video footage is available upon request.

Source: GAMLS #10543765

1,718 sqft
0.28 acres
Single Family
Built in 1937
Air conditioning
Fireplace

$795/month
Compared to $864/mo with 7% bank loan

$60,672
14y 4mo
4.87% 7%
$60,672 at 4.87% (FHA)
$0 at 7.875% No GAP financing needed

Payments are estimates and subject to approval. To learn more about rates, contact us.


Payment details
Principal & interest
$490
Mortgage insurance
$65
Property taxes
$177
Home insurance
$61
HOA fees
-
Utilities
Not included
Total monthly payment
$795

Loan details
Loan type
FHA
Remaining balance
$60,672.27
Remaining term
14 yrs and 4 mos

Neighborhood
Use two fingers to move the map

FAQs

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.

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.

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.

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.

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 “Save search” 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.

When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.

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Last updated: Jul 28, 2025 05:54 am
Listing provided courtesy of: CJ Property Solutions LLC (678) 827-3741
Details provided by GAMLS and may not match the public record.
MLS ID: #10543765
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of GAMLS. All real estate listings are marked with the GAMLS Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright © 2025 GAMLS. All rights reserved.
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