Properties / 416 E ALICE Avenue
VA ASSUMABLERate: 3.76%

416 E ALICE Avenue

$305,900
Phoenix, AZ 85020
1 beds1 baths622 sqftSingle Family
The assumable advantage
3.76%
VA assumed rate
$43,625 interest already paid off
Estimated Loan Balance$252,219
Cash to close$54,643
Est. Monthly PITI$1,476
Initial Loan Amount$274,000
Time on site50 days
Remaining Term25 years, 8 months
Seller's equity (what you pay)
$53,681
Cash or secondary financing
Monthly savings
$526
Versus today's market rate
Est. savings per year
$6K
Versus today's market rate

About this home

Completely remodeled! This charming 1-bedroom, 1-bath home has undergone an extensive down-to-the-studs renovation, including a structural redesign to create a modern open-concept layout. A load-bearing wall was removed and replaced with a structural beam, providing improved flow and functionality throughout the home. Features include an updated kitchen, remodeled bathroom, new finishes, and thoughtful upgrades throughout. Situated on a spacious lot with no HOA, this property offers privacy and flexibility in a highly desirable North Central Phoenix location. Conveniently located near hiking and biking trails, restaurants, shopping, medical facilities, and downtown Phoenix. Perfect for a first-time homebuyer, downsizing, or an investment opportunity. Extensively renovated 1-bedroom, 1-bath home featuring a down-to-the-studs remodel and structural floor plan redesign. Load-bearing wall removed and replaced with structural beam to create an open-concept layout. Property offers updated kitchen, remodeled bathroom, modern finishes, spacious lot, and no HOA. Convenient North Central Phoenix location near hiking trails, shopping, restaurants, medical facilities, and major freeway access.

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 $53,681. 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

Bedrooms1
Bathrooms1
Square feet622
Property typeSingle Family
MLS #7057226
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)
$1,278/mo
Source est. payment (PITI)
$1,476/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$53,681

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

$0$53,681
Additional funds needed$0

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