Properties / 1613 S 5TH Street
VA ASSUMABLERate: 2.93%

1613 S 5TH Street

$223,000
Phoenix, AZ 85004
2 beds1 baths738 sqftSingle Family
The assumable advantage
2.93%
VA assumed rate
$26,110 interest already paid off
Estimated Loan Balance$165,032
Cash to close$58,340
Est. Monthly PITI$958
Initial Loan Amount$185,444
Time on site18 days
Remaining Term24 years, 11 months
Seller's equity (what you pay)
$57,968
Cash or secondary financing
Monthly savings
$537
Versus today's market rate
Est. savings per year
$6K
Versus today's market rate

About this home

OPPORTUNITY AWAITS IN CENTRAL PHOENIX! This 2-bedroom, 1-bath property sits on a generous 6,337 sq. ft. lot, offering investors and buyers an exciting opportunity to bring their vision to life. The existing home provides a solid starting point, while the expansive lot creates room to imagine what's possible and make the property your own. Location is a major highlight, with Downtown Phoenix just minutes away and convenient access to major freeways, public transportation, restaurants, shopping, entertainment, parks, schools, and everyday amenities. With no HOA and a centrally located lot in an established Phoenix neighborhood, this property offers the flexibility and location investors look for when searching for their next opportunity. Bring your vision and explore the possibilities!

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 $57,968. 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

Bedrooms2
Bathrooms1
Square feet738
Property typeSingle Family
MLS #7070589
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)
$778/mo
Source est. payment (PITI)
$958/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$57,968

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

$0$57,968
Additional funds needed$0

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