21611 Chancellors Run Rd Great Mills, MD 20634
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About this home
What a Rare & Awesome Opportunity to buy in this quaint community! This property is a blank canvas waiting for your vision. Perfect for Investors, DIY enthusiasts, or anyone looking to bring new life to a home. Don't miss out on the chance to ADD VALUE and MAKE IT YOUR OWN. This SPACIOUS 3-bedroom, 2-bath, single-level home is situated on a LOVELY, shady lot that offers Incredible POTENTIAL. There's PLENTY OF SPACE and a LARGE YARD on almost 1 ACRE of land. The house is almost 1800 SQ FT vs 1100 of most similar homes in the area (1/3 LARGER!). In addition, the LOT is almost 1 ACRE where most lots are .30 of an acre! So 3 TIMES AS LARGE. Features NO HOA; HANDICAP ASSESSABLE entrance ramp and EXTRA-LARGE, 2-BAY DETACHED GARAGE that can be used as an office, shop, party room, or many other ENDLESS POSSIBILITIES. With some VISION and IMAGINATION (ie: SUBDIVIDE the LAND into 2 or 3 Lots!) , this property could truly shine! Unleash your CREATIVITY and bring this home back to its original glory. Ask us about rehab values. Minutes from GREAT SHOPPING AND RESTAURANTS. Enjoy outdoor fun at Chancellors Run Regional Park, St. Mary's River State Park, Leonardtown Wharf Park, Newtowne Neck State Park, Elm's Beach Park, Breton Beach, and Great Mills Swimming Pool! Close to Vandermere Farm and Stables, Southern Maryland Laser Tag, Piney Point Lighthouse Museum & Historic Park, Old Jail Museum, and Patuxent Naval Air Museum. Find great civilian and military employment opportunities on the Naval Air Station, Navair, as well as jobs at local hotels such as Spark by Hilton, LaQuinta Inn & Suites, Townplace Suites, and Comfort Inn and Suites. Conveniently located near MD-4. Nearby Hospitals include Naval Health Clinic Patuxent River (3.8m); Hollywood Medical Center (8.8m); Medstar St Mary's Hospital (12m). Want to see the home in person? SCHEDULE a showing TODAY!! Investors: Great ROI! This house offers a phenomenal Investment Property Opportunity for Fix & Flip or Rental Property for Passive Rental Income (BRRR). ** The After Repair Value (ARV) for similar REHABBED SOLD homes in the area in 2025 is up to $370,000 (ie: 45705 Robinson Ct - $370,000 on 10/9/25 and 45506 Grant Pl - $370,000 on 7/17/25). * Similar REHABBED homes in the area have RENTED for up to $2,450 (ie: 22005 Baja Ln - $2,450 on 6/9/25).
Source: BRIGHT #MDSM2026832
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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.