Listing photo11 Lance DrCharleston, West Virginia
Charleston, WV 25311 · MLS 284765
- 2 bd / 1 ba
- Bedrooms / baths
- 928 sq ft
- Living area
- 1948
- Year built
- 9,753 sq ft
- Lot
"Home has a lot of potential. Being sold as is, but with a little TLC could be a great investment property or first home. It offers a whole home generator, metal roof that's less than 5 years old, all appliances included, and is conveniently located near the airport, Capitol, hospitals, as well as everything downtown Charleston has to offer."
11 Lance Dr is a 2-bedroom, 1-bath home in Charleston, West Virginia listed at $52,900 with 928 square feet, built in 1948. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with at least one completed project puts 10% down ($5,290), we fund the $41,760 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. See every hard money opportunity in West Virginia or our West Virginia hard money lending page.
From the listing. Home has a lot of potential. Being sold as is, but with a little TLC could be a great investment property or first home. It offers a whole home generator, metal roof that's less than 5 years old, all appliances included, and is conveniently located near the airport, Capitol, hospitals, as well as everything downtown Charleston has to offer.
Hard money financing on 11 Lance Dr: what you qualify for.
Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.
- 1. Your score740Qualifies, high-score terms
- 2. Your experience1 to 2 projectsTier 2: 10% down
- 3. Down payment10% down$5,290 at closing
- A 740 or better score on a purchase under $750,000 gets the high-score terms: the loan can reach 90% of after-repair value instead of 75%.
- Experience Tier 2 on 1 completed project in three years: 10% down, 100% of the renovation funded.
11 Lance Dr priced at the list price.
| Item | Fix and flip: 10% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $5,290 (10%) | |
| Loan at closing | $47,610 | |
| Cosmetic renovation, rough estimate* | We fund $41,760 | |
| Total loan | $89,370 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($1,341) | |
| Appraisal | Required | |
| Estimated monthly interest | $726 at full draw | |
| Cash to close, rough estimate | $11,021 | |
Rough estimates at the list price of $52,900 for a 740 score and 1 completed project. This is not a commitment to lend.
*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $45 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down is for experienced investors; first-time flippers put 20% down. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.
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