123 Oconee St Lakeland, FL 33805
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About this home
Step inside 123 Oconee St and discover a charming 2-bedroom, 1-bath home that blends comfort, style, and opportunity. Recently updated with a modern interior, the home features an inviting open living area with a decorative fireplace, a sleek kitchen with stainless steel appliances, and two private ensuite bedrooms that create a retreat-like feel. Currently operating as a thriving short-term rental averaging $33,000 in annual gross revenue,(numbers to be verified by buyer's discretion) this property offers a unique chance for both investors and homebuyers. Located just steps from Publix Field at Joker Marchant Stadium, minutes from Downtown Lakeland and Lakeland Regional Hospital, and with easy access to I-4 for trips to Tampa and Orlando, it’s perfectly positioned for convenience and consistent rental demand. The home can be purchased fully turnkey, with all furnishings and décor available for sale separately from the asking price, giving buyers flexibility to continue its successful Airbnb / Short term rental operation or make it their own Florida getaway.
Source: STELLAR #L4954990
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.