4026 N Kimball Ave Apt 1 Unit 1 Chicago, IL 60618
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About this home
Legal 3 Unit in Chicago's popular Irving Park neighborhood, with cap rate over 7%! These units feature nice light, and have always rented easily for the current owner. Sit back with these strong performing units, or owner occupy - the choice is yours! Unit 1 features updated white kitchen with granite counters & stainless steel appliances, and pretty engineered hardwood floors in the living area. Two nice-sized bedrooms, with a walk-in-closet, plus dedicated laundry out the back door for this unit. The 2nd floor is bright and cheery, with tall ceilngs, spacious living/dining room and eat-in kitchen with huge window and vinyl plank floors. Two nicely sized bedrooms as well! The top floor is a 1 bedroom, with the current tenants using the living room as combination bedroom/living area. This unit enjoys spacious kitchen with window, as well as private, in-unit laundry and a walk-in closet. There's a front yard as well as a (fenced) back yard & covered rear patio - perfect for outdoor fun, and with enough space where each tenant can have their own outdoor time without feeling cramped...a huge bonus for the neighborhood! Recent building updates include siding (2025) and water heater (2024). Tenants pay their own gas & electricity. Convenient location near CTA Bus and Irving Park blue line, near restaurants and the best part....down the street from Miko's Italian Ice! Great option for FHA/VA. Come see!
Source: MRED #12503707
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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.
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