7172 Dr Martin Luther King Jr St S, Saint Petersburg, FL 33705
4 beds · 3 baths · 3,578 sqft
Imagine coming home to a one-of-a-kind, Key West style property – your private waterfront sanctuary. Here's a rare opportunity to own a unique, Hemingway-inspired property, situated on .67 acres. A quiet cul de sac and private entry gate lead to this captivating home that is graced by a wrap-around porch and tremendous water views of Tampa Bay and the Sunshine Skyway, from most rooms. This remarkable home features 4 bedrooms and 3 full baths. The impressive 45’ long entry foyer, with a soaring 21' high volume ceiling leads to spacious living and entertainment areas. The large kitchen includes stainless appliances, an induction cooktop stove, plentiful cabinet space, numerous roll-out drawers, under cabinet lighting and also ample dining space to accommodate a large kitchen table. A convenient laundry room is accessed from the kitchen, providing room for a full size washer and dryer, a stainless utility sink, numerous cabinets with roll-out pantry storage and a laundry chute from the master bedroom. The warm, comfortable living room is adjacent to the kitchen and features a wood-burning fireplace, flanked by decorative built-in cabinetry and bookshelves. The formal dining room is very spacious and it includes built-in buffet cabinetry with handy roll-out shelves and a marble top. There is also a good size family room on the first floor that provides the perfect place to relax and entertain. French doors in almost all first floor rooms open to the wrap around verandah porch and striking water views. The living room and family room lead to a sparkling pool and gorgeous travertine pavered lanai, with plenty of space to soak up the sun. All openings in the home and detached garage, including attic vents, are protected by impact-rated coverings. There’s a first floor bedroom with a large storage closet. A full bath located across from this bedroom, includes a tub and shower and marble topped vanity. The second floor showcases three large bedrooms and more storage space. The master suite features built-in cabinets and shelving which open to reveal a surprising, expansive walk-in, his and her custom closet. There are also sliding doors, which lead to a balcony/walkway that overlooks the inviting pool area and 245’ dock to the picturesque waterfront. The ensuite master bath is equipped with separate, counter height marble-topped vanities, an elevated tub, walk-in shower, linen closet and additional storage closet. The guest suite is also very roomy with plentiful closet space, sliding doors to the balcony/walkway and a private bath with a marble-topped vanity, walk-in shower and storage room. The third upstairs bedroom is outfitted with a wall of built-in shelves and cabinets - an ideal office. This home is equipped with a new whole-house surge protector, newer electrical panel and double-thickness exterior Hardie Board plank siding, with 45 degree hand-mitred corners. Newer pool equipment includes an electric heater & chiller, pool pump and salt cell. A covered brick walkway leads to a detached, two car garage with insulated, impact doors, workbench and pull-down stairs to access garage attic space. This residence did not incur hurricane related flood damage in any living areas. Ideally located near downtown St. Pete attractions, shopping, restaurants and I275, for quick access to Tampa. Minor roof & soffit damage from hurricane Milton. Priced under recent appraisal. Sold "AS IS". Don't miss this opportunity!
Source: STELLAR #TB8337855
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Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Rates and payments are estimates based on public records.
Source: Public records
Source: STELLAR #TB8337855
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.