11705 Fairport AveCleveland, Ohio

Cleveland, OH 44108 · MLS 5233250

List price

$120,500

8 bd / 2 ba
Bedrooms / baths: 2,784 sq ft
Living area: 1920
Year built: 5,662 sq ft
Lot

"CASH OR HARD MONEY ONLY."

Listed by Nicholas Huscroft Chosen Real Estate Group (330) 249-3499

11705 Fairport Ave is a 8-bedroom, 2-bath home in Cleveland, Ohio listed at $120,500 with 2,784 square feet, built in 1920. 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 100% down ($120,500), we fund the $306,240 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. DRASTICALLY PRICE DROP - SELLING IMMEDIATELY. SOLD STRICTLY AS-IS. REPAIRS NEEDED. NO SELLER CREDITS. CASH OR HARD MONEY ONLY. SELLER WILL NOT WAIT. SELLING IMMEDIATELY. Duplex property, Two unit house. 1 unit is 3 bedroom and 1 bathroom, 2nd unit is 5 bedrooms and 1 bathroom, total 8 bedrooms and 2 bathrooms.

01 - Price This Property

Hard money financing on 11705 Fairport Ave: 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 $120,500

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 $110 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 projects100% down at closing
3. Down payment100% downNot priced as entered: see why below

Not yetAt a 740 score with 1 completed project, this property does not price on our programs as entered. The reasons are below; change what you can, or call the desk.

Fix and flip, experienced

100% down

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

Cash to close, rough estimate $129,484

Loan at closing $0

Rate, interest only from 9.75%

Why not. A extensive (the price or more) renovation is not offered with one or two completed projects: heavy work opens with one completed project, extensive work with three.

Add an after-repair value to confirm the total: the loan is also capped at 70% of it.

02 - The Numbers at Closing

11705 Fairport Ave priced at the list price.

Item		Fix and flip: 100% down
At closing
Qualifies as entered	No
Buyer down payment	$120,500 (100%)
Loan at closing	$0
Full renovation, rough estimate*	We fund $306,240
Total loan	$306,240
Rate, interest only	from 9.75%
Points	1.5 ($4,594)
Appraisal	Required
Estimated monthly interest	$2,488 at full draw
Cash to close, rough estimate	$129,484

Rough estimates at the list price of $120,500 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 $110 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.

We are the lender, not the listing agent. This property is listed by Nicholas Huscroft, Chosen Real Estate Group ((330) 249-3499). To see it or make an offer, contact Nicholas 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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