Listing photoChicago, IL 60651 · MLS 12758519
"Hard money financing is welcome; however buyers using a hard money lender must have an established track record of successfully..."
4934 W Iowa St is a 4-bedroom, 2-bath home in Chicago, Illinois listed at $219,000 with 1,344 square feet, built in 1908. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 10% down ($21,900), we fund the $60,480 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. See every hard money opportunity in Illinois or our Illinois hard money lending page.
From the listing. ATTENTION HANDYMEN, REHABBERS & INVESTORS! Here's your chance to transform this solid vintage 2-story into something special. This property needs renovation, but offers terrific value and endless potential for the right buyer looking for a value-add project. The property features two full levels of living space (previously used as related living) plus a full basement, providing plenty of room to reimagine. The first-floor features two spacious bedrooms, a full bath, a bright living room, and an enclosed porch suitable for an office or additional living space. The second-floor offers two more bedrooms and a full bathroom. Additional features include a private, fenced backyard, ideal for summer gatherings and outdoor enjoyment, plus the added value and convenience of a 2-car garage. Situated on a quiet residential street in up-and-coming Austin neighborhood within walking distance to public transportation and minutes from expressway. Several new developments and renovation projects in the surrounding area add to the neighborhoods ongoing revitalization and appeal. See it, envision the possibilities, and make it yours before another investor beats you to this outstanding rehab opportunity! Selling as-is. Cash and renovation loans only. Hard money financing is welcome; however buyers using a hard money lender must have an established track record of successfully completing previous transactions with that lender.
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.
| Item | Fix and flip: 10% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $21,900 (10%) | |
| Loan at closing | $197,100 | |
| Cosmetic renovation, rough estimate* | We fund $60,480 | |
| Total loan | $257,580 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($3,864) | |
| Appraisal | Required | |
| Estimated monthly interest | $2,093 at full draw | |
| Cash to close, rough estimate | $30,154 | |
Rough estimates at the list price of $219,000 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 takes a 740 score or a deeper track record; a first flip under 720 puts 25% down. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.
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Cash or hard money only"Cash or hard money only."
Cash or hard money only"Great investment opportunity, CASH ONLY, four levels of living space, main level with a nice-sized kitchen, separate dining, Dinning room."
Hard money welcome"CORP. OWNED, AS-IS SALE, CASH ONLY, NO SURVEY, TAXES 100%."
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