8316 Cherokee Drive
Downey, CA, 90241
$1,525,000
MLS: TR25218271
Beds
4
Baths
3
Sq Ft
2,615
Lot
0.21 ac
Year Built
1997
MLS #
TR25218271
Days on Market
195
Listed
Sep 16, 2025
Description
This house has 4 Bedrooms: three of them with engineered wood floor and one with black granite floor like the rest of the house; the owner's bedroom is huge and has a large walking closet and the bathroom has two sinks. There are 3 bathrooms, two of which were fully updated recently and one partially updated. Total living area approximately 2615 sqft, large family Room with fireplace, Living Room, Dining Room and Kitchen with new ovens and a Viking 6 burner gas Range. The exterior includes a patio, pool, BBQ covered area, pergola, some fruit trees, a long driveway for RV or 6 vehicles and tile roof.
Location
Downey, Los Angeles County, CA 90241
Open on Google Maps ↗Listed by: Jonathan Minerick · Homecoin.com
Payment estimate
$10,893
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $152,500 · Loan: $1,372,500
- Principal & Interest
- $8,433
- Property tax (1.25%)
- $1,589
- Homeowners insurance
- $300
- Mortgage insurance
- $572
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 Downey home with as little as 3.5% down using an FHA loan — roughly $53,375 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.
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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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