Properties / 1021 E Pierce Street
VA ASSUMABLERate: 6.96%

1021 E Pierce Street

$1,280,000
Phoenix, AZ 85006
12 beds8 baths sqftSingle Family
The assumable advantage
6.96%
VA assumed rate
$131,109 interest already paid off
Estimated Loan Balance$1,247,531
Cash to close$32,469
Est. Monthly PITI$8,832
Initial Loan Amount$1,265,000
Time on site6 days
Remaining Term28 years, 7 months
Seller's equity (what you pay)
$32,469
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

Incredible Investment Opportunity in the Heart of Historic Garfield - A rare and highly desirable 4-unit multifamily property nestled in one of Phoenix's most sought-after and culturally rich neighborhoods, the Historic Garfield District. Whether you're a seasoned investor or looking to house-hack your way to financial freedom, this property delivers cash flow with massive upside potential. Each spacious 900 sqft units features 3 bedrooms and 2 full bathrooms, offering a layout that commands top-of-market rents in today's competitive Phoenix rental market. With a projected average rental income of $2,100 per unit per month. Situated in the heart of the Historic Garfield District one of downtown Phoenix's most vibrant , walkable, and character-filled neighborhoods.

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 $32,469. 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

Bedrooms12
Bathrooms8
Property typeSingle Family
MLS #7076583
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)
$8,390/mo
Source est. payment (PITI)
$8,832/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$32,469

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

$0$32,469
Additional funds needed$0

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