513 Water Oak Lane B
Oak Park, CA, 91377
$720,000
MLS: 226001203
Beds
2
Baths
3
Sq Ft
1,204
Lot
0.03 ac
Year Built
1989
MLS #
226001203
Days on Market
25
Listed
Mar 16, 2026
Description
RARE OPPORTUNITY IN OAK PARK WITH AN ASSUMABLE 2.25% FHA LOAN AVAILABLE FOR QUALIFIED BUYERS! Welcome to 513 Water Oak Ln Unit B, a beautifully updated home located in the desirable Shadow Oaks community and within the award-winning Oak Park school district. The light-filled floor plan features soaring ceilings, an open living and dining area with a cozy fireplace, and a kitchen with stainless steel appliances and ample cabinetry. A private patio offers space for outdoor dining and relaxing. Recent upgrades include new flooring, fresh interior paint, new appliances, a new water heater, and a new HVAC system with updated ducting, providing modern comfort and efficiency. Upstairs, the spacious double primary suites offer high ceilings, generous closet space, and ensuite bathrooms. Community amenities include a pool, spa, and fitness room, with convenient access to nearby parks, hiking trails, shopping, and dining.
Location
Oak Park, Ventura County, CA 91377
Open on Google Maps ↗Listed by: Jacob Steagall · Compass
Payment estimate
$5,301
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $72,000 · Loan: $648,000
- Principal & Interest
- $3,981
- Property tax (1.25%)
- $750
- Homeowners insurance
- $300
- Mortgage insurance
- $270
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Apr 23, 2026
- 30-year fixed
- 6.23%
- 15-year fixed
- 5.58%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Oak Park home with as little as 3.5% down using an FHA loan — roughly $25,200 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
Assumable Loan — Lock In a Below-Market Rate＋
This Oak Park property has an assumable mortgage, meaning a qualified buyer can take over the existing loan at its current interest rate — potentially far below today's market rates. Assumable financing can dramatically reduce your monthly payment and total interest cost over the life of the loan compared to qualifying for a new mortgage at prevailing rates. This is a rare and significant financial advantage; ask your agent for the current loan details.
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Local Market Stats
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Median sold price, days on market, active inventory, price brackets, and 12-month trends — pulled live from the MLS.
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