507 Jessamine Blvd # 509, Daytona Beach, FL 32118
5 beds · 3 baths · 1,959 sqft sqft
**Historic Coastal Gem with Dual Residences in Daytona Beach** Step into the charm of yesteryear with this exceptional historic property, located just 700 feet from the sparkling Atlantic Ocean in beautiful Daytona Beach! Offering two homes on an oversized lot, this unique property is perfect for those seeking a blend of character, versatility, and an unbeatable location. The main home is a 3-bedroom, 2-bathroom treasure, showcasing timeless craftsmanship and stunning architectural details. From the moment you walk through the door, you’ll be captivated by the warm, inviting ambiance created by beautiful exposed beams, vintage accents, solid wood flooring and an abundance of natural light. The wood burning fireplace infuses the living room with warmth and charm, creating a cozy retreat for relaxation. The thoughtfully designed layout ensures both comfort and functionality, with spacious living areas ideal for entertaining or unwinding after a day at the beach. The guest home, a 2-bedroom, 1-bathroom residence, is equally charming and brimming with possibilities. This home features travertine flooring throughout, a walk-in shower and a kitchenette. Use it as a guest house, an income-producing rental, or a private retreat for extended family. Both the main home and the guest home have a current rental license from the city. The oversized yard is an entertainer’s dream, with ample space for outdoor gatherings, gardening, or simply relaxing under the shade of mature trees. In the fully fenced backyard, you can find fruit bearing banana trees, grapes, peaches and figs!! A cellar can be found on the back of the home- offering a naturally insulated underground storage space. The inviting outdoor area provides the perfect backdrop for enjoying the coastal breeze and creating memories with loved ones. Parking will never be an issue, thanks to plenty of space for vehicles, making hosting guests a breeze. The home has been meticulously maintained and offers many updates which include: a BRAND NEW ROOF (installed 2023) updated electrical and plumbing (completed in 2015). This property is a rare find, offering not just a home, but a lifestyle steeped in history, charm, and the allure of coastal living. Whether you’re looking for a primary residence, a vacation home, or an investment opportunity, this dual-home property is truly one-of-a-kind. Don’t miss your chance to own this historic gem just steps from the ocean—schedule your private showing today!
Source: STELLAR #o6257750
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #o6257750
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: #o6257750
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.