Properties / 1809 N 42ND Street
FHA ASSUMABLERate: 6.64%

1809 N 42ND Street

$649,000
Phoenix, AZ 85008
4 beds2 baths sqftSingle Family
The assumable advantage
6.64%
FHA assumed rate
$102,576 interest already paid off
Estimated Loan Balance$612,245
Cash to close$39,293
Est. Monthly PITI$4,549
Initial Loan Amount$626,345
Time on site50 days
Remaining Term27 years, 7 months
Seller's equity (what you pay)
$36,755
Cash or secondary financing
Monthly savings
$0
Versus today's market rate
Est. savings per year
$0K
Versus today's market rate

About this home

Exceptional investment opportunity in the desirable Arcadia/Osborn corridor! This beautifully renovated duplex features two separate 2 bed / 1 bath units, each currently operating as STR and offering excellent flexibility for short-term, long-term, or owner-occupant use. Both units are move-in ready with updated finishes, stainless steel appliances, open-concept living spaces, and wood-look LVP flooring throughout. Each residence includes its own private yard space, dedicated carport parking, and access to a shared laundry room--rare amenities that enhance tenant and guest appeal. A turnkey income-producing property in one of Phoenix's most sought-after central locations.

How assumption works for this home

Can I assume this FHA loan?

Yes, as long as you meet the lender's credit (620+) and DTI requirements. FHA assumptions require you to use the home as your primary residence.

How much cash do I actually need?

You need to cover the seller's equity of $36,755. If you don't have that in cash, we can help structure secondary financing to cover the gap.

Can investors assume this one?

No — FHA loans require owner-occupancy. If you're an investor, ask us about our VA inventory.

How long does this take?

Typically 45 days. The lender underwriting is 2–3 weeks, and the rest is standard closing.

Property details

Bedrooms4
Bathrooms2
Property typeSingle Family
MLS #7024741
CountyMaricopa County
Assumable loanFHA
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Investor?
FHA is primary-residence only. But Jeff has VA assumables in the same area.
Jeff Salazar
Active now · (602) 332-3860
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Payment & cash calculator

Cash covers the gap between the price and the existing loan balance. Changing this amount does not change the existing mortgage payment.

Est. mortgage payment (P&I)
$4,038/mo
Source est. payment (PITI)
$4,549/mo

P&I is principal and interest. PITI also includes estimated taxes and insurance. HOA fees and payments on any additional financing are separate.

Estimated equity gap$36,755

Asking price minus remaining loan balance. Closing costs are additional.

$0$36,755
Additional funds needed$0

The equity gap is covered. Closing costs and assumption fees still need to be confirmed.