8823 Oak St Riverview, FL 33578
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About this home
Once in a lifetime opportunity to create your dream home in a prime WATERFRONT location! This 3- bedroom, 2-bathroom waterfront home sits on a spacious lot nestled on a quiet cul-de-sac on the Alafia River. Offering unparalleled sunset views and direct access to Tampa Bay, St. Pete, and Beer Can Island, this blank slate is ready to be transformed into a customized dream haven for boaters, kayakers, and fishing enthusiasts. While it requires significant renovation, the property offers endless possibilities for the right buyer with vision—whether you're looking to flip, rent, or completely reimagine the space, this property is brimming with potential. The double driveway provides ample parking, while the waterfront setting sets the stage for the ultimate coastal lifestyle. Explore the Bay & Gulf from your own backyard or drop in the water at the Williams Park boat launch just 1 mile away. Minutes away from parks, tennis courts, and local popular establishments including Rivers Edge, Jerry's Dockside Grill and Tiki Docks on the beautiful Alafia River. The home is located with quick access to I-75, US-41, and the Crosstown, only 19 minutes to Downtown Tampa and 25 minutes to Tampa International Airport, making it ideal for commuters or vacation renters. While this home did have water intrusion during Hurricane Helene, it has been fully remediated and dried out, but has not been fully renovated, giving the next owner the opportunity to renovate according to their own desires or tear down and build up to add sweeping views across Tampa Bay. Electrical, plumbing, HVAC, and lighting have all been replaced or verified undamaged. Renovations are ongoing (price of home may increase as renovations are completed), so don’t wait to snap up this rare opportunity to own affordable waterfront property and make this blank slate your forever home or your next investment property at a steal! Don’t miss this incredible chance to own a slice of riverfront paradise with endless possibilities to make it your own! NO CDD, NO HOA.
Source: STELLAR #A4669450
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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.