Properties / 4597 E Waterman Street
VA ASSUMABLERate: 3.69%

4597 E Waterman Street

$610,000
Gilbert, AZ 85297
3 beds2 baths2,435 sqftSingle Family
The assumable advantage
3.69%
VA assumed rate
$97,609 interest already paid off
Estimated Loan Balance$227,681
Cash to close$387,940
Est. Monthly PITI$1,662
Initial Loan Amount$286,500
Time on site50 days
Remaining Term19 years, 9 months
Seller's equity (what you pay)
$382,319
Cash or secondary financing
Monthly savings
$2,243
Versus today's market rate
Est. savings per year
$27K
Versus today's market rate

About this home

Welcome to 4597 E Waterman Street in the desirable Knolls at Power Ranch. This spacious 3-bedroom, 2-bath home also features a den plus a formal dining room or bonus room, offering flexible living space for today's lifestyle. The open floor plan is designed for easy living and entertaining, with an eat-in gourmet kitchen that flows seamlessly into the formal dining area. Fresh interior paint, brand-new carpeting, newly painted exterior, and a new A/C unit make this home move-in ready. Enjoy both a charming front patio and a covered back patio with awning overlooking the large lot. Additional highlights include an extended and insulated 2-car garage, extra-large laundry/craft room, updated garage door components. Residents enjoy amazing amenities in the Knolls at Power Ranch The primary suite offers a true retreat experience with a soaking tub, separate shower, and private toilet area. As part of Power Ranch, residents enjoy an impressive lineup of amenities designed for recreation, relaxation, and connection. Gather with neighbors at The Barn or Carriage House, both vibrant community hubs hosting year-round classes, events, and private celebrations. Spend sunny days at one of several pools, the splash pad, or cast a line in one of two catch-and-release fishing lakes. Outdoor enthusiasts will love over 26 miles of scenic trails, multiple parks and playgrounds, and a variety of sports facilities including basketball, tennis, soccer, softball, and volleyball courts. Covered pavilions, a rolling party trailer, and flexible rental spaces like the Ranch House Conference Room make entertaining a breeze. With thoughtfully maintained green spaces and endless community activities, Power Ranch offers the perfect blend of comfort, recreation, and neighborly charm.

How assumption works for this home

Can I assume this VA loan?

Yes, as long as you meet the lender's credit (620+) and DTI requirements. You do NOT need to be a veteran to assume a VA loan — this is a common misconception.

How much cash do I actually need?

You need to cover the seller's equity of $382,319. If you don't have that in cash, we can help structure secondary financing to cover the gap.

Can investors assume this one?

Yes — VA assumptions can be used for investment properties. You can rent this home out.

How long does this take?

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

Property details

Bedrooms3
Bathrooms2
Square feet2,435
Property typeSingle Family
MLS #6941961
CountyMaricopa County
Assumable loanVA
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Investor?
This VA loan can be assumed and rented. Talk to Jeff about the ROI math.
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)
$1,354/mo
Source est. payment (PITI)
$1,662/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$382,319

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

$0$382,319
Additional funds needed$0

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