5437 Delette Ave S Gulfport, FL 33707
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About this home
Motivated seller, looking for savvy investor. Low interest rate of 3.125% assumable mortgage for qualified buyer. Don’t miss opportunity to purchase this income producing property, which also provides new investors the chance to dip their toes into the landlord experience while residing on property. Prime Investment Opportunity in the Heart of Gulfport’s Historic Waterfront District! This well-maintained income-producing duplex features a spacious 2 bedroom / 2 bath apartment downstairs and a charming 1 bedroom / 1 bath apartment upstairs—each with its own electric meter and a shared water meter. The downstairs unit is fully furnished and has been successfully rented as a monthly rental, making it a turnkey option for immediate income. Inside, you’ll find a welcoming living room with cozy seating and a large-screen TV, ideal for relaxing or entertaining. The beautifully updated kitchen is equipped with granite countertops, crisp white cabinetry, and stainless steel appliances. Both bedrooms are generously sized with comfortable queen beds, creating a delightful retreat for guests or tenants. Upstairs, the 1-bedroom apartment is already rented with a stable annual tenant in place! This bright and spacious unit features an oversized living room, an updated kitchen with sleek gray cabinets, white tile backsplash, stainless steel appliances, and space for a small dining setup. The large bedroom is flooded with natural light and includes a second door with exterior access—adding extra convenience and privacy. A shared laundry room is located on the ground floor, and the outdoor space is perfect for enjoying Florida’s sunshine—ideal for morning coffee, evening wine, or weekend gatherings. All of this is located just behind the iconic Pia’s Trattoria, placing you steps away from Gulfport’s best dining, shopping, entertainment, parks, and waterfront attractions. Opportunities like this don’t last long—schedule your private showing today and take the next step toward owning a piece of Gulfport’s historic charm!
Source: STELLAR #TB8415159
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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.