Properties / 5015 W Tennessee Avenue
FHA ASSUMABLERate: 5.81%

5015 W Tennessee Avenue

$145,000
Chloride, AZ 86431
2 beds1 baths1,088 sqftSingle Family
The assumable advantage
5.81%
FHA assumed rate
$17,088 interest already paid off
Estimated Loan Balance$88,894
Cash to close$58,953
Est. Monthly PITI$1,087
Initial Loan Amount$99,715
Time on site36 days
Remaining Term11 years, 11 months
Seller's equity (what you pay)
$56,106
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

Own your own piece of history in Historic Chloride, Arizona! This charming 2-bedroom, 1-bath home, built in 1916, is nestled in the heart of the historic mining town of Chloride and is full of unique character and timeless appeal. Situated on a fenced 0.45-acre lot, the property offers multiple outdoor living spaces, including a covered front patio, back deck, side patio, and a greenhouse perfect for those who enjoy gardening and the outdoors. The property features a detached garage, a shop with basement, and plenty of room to enjoy the peaceful desert setting. Inside, the home showcases, fun wall colors that enhance its historic charm, along with a spacious living room, a dining room highlighted by a chandelier, and a light-filled kitchen complete with a garden window above the sink. The primary bedroom opens to a large sunroom with abundant windows, allowing natural light to pour in. Additional interior features include indoor laundry with cabinet and counter space and a guest bedroom. The full bathroom includes a tub/shower combination. Enjoy a peaceful small-town lifestyle, a mild climate, relaxing mornings, and quiet evenings under the stars. This one-of-a-kind historic home is perfect for anyone seeking character, space, and serenity in a truly unique Arizona setting. Whether you're looking for a full-time residence, a peaceful desert retreat, or a charming weekend getaway, this unique property checks all the boxes. Come and explore our beautiful Arizona desert, beautiful sunrises, sunsets and starry night skies. Don't wait, opportunity is knocking, call a Realtor and schedule your personal tour of this home today.

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 $56,106. 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

Bedrooms2
Bathrooms1
Square feet1,088
Property typeSingle Family
MLS #035409
CountyMaricopa County
Assumable loanFHA
Tour this home
In person or virtual.
Prefer virtual tour?
Free · No commitment · Typical reply in 15 min
Investor?
FHA is primary-residence only. But Jeff has VA assumables in the same area.
Jeff Salazar
Active now · (602) 332-3860
Call

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)
$863/mo
Source est. payment (PITI)
$1,087/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$56,106

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

$0$56,106
Additional funds needed$0

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