5230 N 7th Ave, Phoenix, AZ 85013
- beds · 0 baths · sqft sqft
Stunning Duplex in highly sought after central corridor... seller renovated entire units immediately after close of escrow and spared no expenses from wood like tile, to all stainless steel appliances, duel pane low e windows, brand new kitchen cabinetry, all led recessed lighting, quartz counter tops, open concept living, fully remodeled bathrooms, walk in showers, cabinetry, literally no expense was expired when bringing this deal to life, interior two tone paint, 4 inch upgrade baseboards all new ceiling fans with remotes for comfort, front loading washer and dryers in the exterior laundry room under Neath the covered and highly secured fully fenced in yard, along with the two tone exterior paints along with black shutters to give character and curb appeal.. professionally land scaped yard, that is upkept weekly and paid for buy landlord, This place is truly and investors dream deal and ready to rent roll immediately.. the location of having frontage street facing 7th avenue yet being further back enough to not experience the traffic noises according to all tenants who've occupied the place and typically stay for years at a time.. make it a marketing machine when it comes to acquiring tenants.. if your interested in more information contact the listing agent Steve hes helped several tentants rent the places, has all the inform rehgarding the amoutn of calls and activitiviy acquired while units where on market and can attest to the activivity it generates.. Ownerships was content with rents where they were.. However we have discussed upgrading a few things interior wise and pushing the rents to $2300-$2500 which if familiar with the area and the fact that this property has the privacy and yard space that it does, i think without a question it would have rented for that amount very easily... so bring your investors or buyers who may prefer to live in one unit while renting out the other enjoying the benefits afforded to those who happen to own investments units while resided in one side IYKYK. Steven Barry is happy to assist with any questions or concerns anytime . serious inquiries only please. All the best!
Source: ARMLS #6751740
Interest rate and monthly payment estimated based on public records.
Source: ARMLS #6751740
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: #6751740
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