242 S Buena Vista St Hemet, CA 92543
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About this home
TWO UNITS in one lot, This is a true duplex zoned R2 lot!! Great Opportunity! This property offers flexibility for Gen-x living space and/or income potential on a spacious lot. The FRONT HOUSE features 3 bed/ 1 bath, providing ample living space. BACK HOUSE includes 1 bed/ 1 bath, kitchen/living area—ideal for extended family, guests, or rental income. NO HOA, Super LOW TAXES! Large backyards. Gated long driveway. The layout is designed for convenience with most utilities already separated for each unit (gas, electric, trash, mailing addresses are 242 and 242 1/2), making it easier to manage expenses. A new artificial lawn area between the units creates an attractive, low-maintenance outdoor space, and the gated concrete driveway provides plenty of off-street parking. At the rear, a large storage shed on a concrete slab offers extra storage, workshop potential, or space for hobbies. Great fixer for the experienced investor or handyman. Seller could help with some repairs depending on offer. Don't miss the opportunity to live in one unit and rent the other, or expand your rental portfolio with two income-producing residences. No HOA, Super Low taxes, and good lot size, the property offers multiple possibilities for homeowners and investors alike. Unique chance to own a versatile duplex with both living and/or investment potential! Make an appointment Today!
Source: CRMLS #SW25189690
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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.