500 53rd St S, Saint Petersburg, FL 33707
4 beds · 2 baths · 2,226 sqft
Welcome to 500 53rd St S in St. Petersburg! This charming two-story home combines historical character with modern upgrades and total peace of mind. Property sits high and dry on a corner double lot that is not in flood zone and weathered both recent hurricanes without any damage. Stepping inside, the grand foyer and half bath welcomes you with high ceilings and beautiful original hardwood floors, leading into the large dining area and kitchen featuring newer appliances, solid wood cabinets, and ample space for all your cooking and entertaining needs. An adjacent laundry room and separate mud room with a side entry door adds convenience and storage, while an oversized hallway connecting the kitchen to the living room provides additional storage or a pet-friendly space to hide a litter box or pet crates. Anchoring the spacious living room is a cozy electric fireplace, surrounded by large windows that fill the home with natural light highlighting the old-world charm and craftsman style. Off the living room, an 8' x 14' bonus room offers flexible use as a home office, playroom, or gym. Upstairs, a large landing opens to four generously sized bedrooms, each occupying a corner of the second floor, along with a tastefully updated, full bathroom featuring a tub/shower combo with new tile surround and 12” x 24” tile flooring. The large attic is great for those needing additional storage. Outside, the newly installed paver deck and pergola create a lovely outdoor living space, perfect for an outdoor kitchen or grilling area. The fully fenced backyard offers complete privacy and a huge green space for pets and children to play or for that backyard garden you’ve been dreaming of. The backyard also features a 20' x 12' above-ground pool installed in 2022. There have been many recent upgrades to the property including a brand-new roof (2024), pergola and paver patio (2024), fresh exterior paint (2024), new water heater (2021), and two newer AC units for each floor (2018 upstairs and 2019 downstairs). Located on the outskirts of Gulfport, conveniently just a short drive from award-winning beaches, downtown St. Petersburg, popular restaurants, shopping, and parks along with excellent schools & hospitals. This well-maintained home is a rare opportunity to own a piece of St. Pete’s history with all the modern comforts—schedule your private showing today! The property is ADU eligible with income producing opportunities or a double lot to build 2 homes on if the home does not suit.
Source: STELLAR #tb8316989
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #tb8316989
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: #tb8316989
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.