7700 Boca Ciega Dr Unit 1 St Pete Beach, FL 33706
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About this home
TRIPLEX INVESTMENT OPPORTUNITY in the heart of St Pete Beach with Assumable Mortgage 4.25%. Optimal location near shops, public transportation, restaurants and local beaches as well as the St Pete Beach Community and Aquatic Center, which features a large pool, gym and other facilities/activities. This historic property has enjoyed substantial updates and renovations at the loving hands of the current owners, including structural reinforcement of the foundation, a fresh coat of exterior paint and a new roof. The property features a total of 5 bedrooms and 4 bathrooms across three separate residential units, providing flexibility for investors or an owner-occupant looking for rental income. All of the units are clean and nicely updated. Unit 1 on the ground floor is the largest, with 1,373 SF, and features a fireplace and stunning architectural features and detail. The kitchen is gorgeous, with stainless steel appliances and quartz countertops atop trendy luxury vinyl flooring that runs throughout the unit. The entire unit is bathed in natural light, including the bonus room, which makes a fabulous office. A large dedicated patio for this unit is available out front, beautifully finished in gray and white pavers. Unit 2 is accessed upstairs using the staircase to the side of the home. At the top of the stairs you are greeted by an open air balcony with pergola, and access to this 2 bedroom/1 bath unit. Enjoy a water view from the bedroom window looking towards the Intracoastal. Unit 3 on the ground floor is a cozy and efficiently designed 1 bedroom/1 bath unit, also with lovely updates similar to Unit 1. Both units 2 and 3 have a shared outdoor space on the ground floor surrounded by tropical landscape. The property also has a large free-standing shed and has an irrigation system. Each unit is furnished and comes turn-key. St Pete Beach is a desirable location for rentals, and requires a 30 day minimum rental period per local ordinance. The location provides easy access to the pristine beaches, local shops, and a variety of dining options as well as quaint Corey Avenue and a plethora of public and free beach ride transportation options. Drive to vibrant downtown St Petersburg in less than 30 minutes and to Tampa International Airport in 45 minutes during off hours. Pinellas Trail is close by and Sarasota, Tampa, Dunedin and Tarpon Springs are all within easy striking distance. Make your viewing appointment today!
Source: STELLAR #TB8417734
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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.