945 E 149th StCleveland, Ohio

Cleveland, OH 44110 · MLS 5231648

List price

$60,000

3 bd / 1.5 ba
Bedrooms / baths: 1,232 sq ft
Living area: 1900
Year built

"The property is missing its mechanical systems and will not qualify for traditional financing, making it an ideal candidate for cash..."

Listed by Ryan Sackman Keller Williams Greater Cleveland Northeast (440) 255-5500

945 E 149th St is a 3-bedroom, 1.5-bath home in Cleveland, Ohio listed at $60,000 with 1,232 square feet, built in 1900. 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 ($6,000), we fund the $55,440 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 Ohio or our Ohio hard money lending page.

From the listing. Unlock the potential of this Cleveland value-add investment opportunity! This 3-bedroom, 1.5-bath home is ready for an experienced investor or rehabber looking to add value. The property is missing its mechanical systems and will not qualify for traditional financing, making it an ideal candidate for cash buyers or renovation financing. With solid upside potential, this is a great opportunity for a fix-and-flip, BRRRR strategy, or long-term rental investment. Please note: Seller will not consider seller financing or contract assignments. Buyer must perform their own due diligence. Property is being sold as-is. Seller would like to package this home with 1190 E 112th St. Cleveland, OH

01 - Price This Property

Hard money financing on 945 E 149th St: 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.

List price $60,000

State OH

Your credit score, approximate

Type a number, like 720. A ballpark is fine and nothing is pulled. Leave it empty if you have no score.

Investment projects you completed in the last 3 years

Flips, rentals bought and sold, or builds. Decides the down payment.

Renovation budget

Our super rough estimate at $45 per sq ft. Put in your contractor's number if you have one.

After-repair value, if you know it

The loan stays under 75% of it. Leave blank to size on the price alone.

1. Your score740Qualifies
2. Your experience1 to 2 projects10% down at closing
3. Down payment10% down$6,000 at closing

You qualifyAt a 740 score with 1 completed project, you qualify for 10% down on this property with the renovation funded.

Fix and flip, experienced

10% down

We fund 100% of the renovation. Closes in 2 weeks.

Cash to close, rough estimate $14,650

Loan at closing $54,000

Rate, interest only from 9.99%

The cap of 92.5% of the total cost leaves $2,658 of the renovation for the buyer.
With one to four completed projects in three years and a moderate (half to all of the price) renovation: up to 90% of the price at closing and up to 100% of the renovation.
Ten or more completed flips (five in this state) with a 720 score reach 100% financing on this property.
Add an after-repair value to confirm the total: the loan is also capped at 72.5% of it.

02 - The Numbers at Closing

945 E 149th St priced at the list price.

Item		Fix and flip: 10% down
At closing
Qualifies as entered	Yes
Buyer down payment	$6,000 (10%)
Loan at closing	$54,000
Cosmetic renovation, rough estimate*	We fund $52,782
Total loan	$106,782
Rate, interest only	from 9.99%
Points	1.5 ($1,602)
Appraisal	Required
Estimated monthly interest	$889 at full draw
Cash to close, rough estimate	$14,650

Rough estimates at the list price of $60,000 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 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.

We are the lender, not the listing agent. This property is listed by Ryan Sackman, Keller Williams Greater Cleveland Northeast ((440) 255-5500). To see it or make an offer, contact Ryan directly, or work with your own buyer's agent. The numbers on this page are simply what our financing would look like on this property. Viewing them is not a commitment to borrow from us, and you are free to finance the purchase however you choose. We do not represent buyers or sellers.

Request the Term Sheet Call (323) 304-4978

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