Listing photoCollege Point, NY 11356 · MLS 1059201
"CASH OFFERS ONLY."
12607 7th Ave is a 3-bedroom, 1.5-bath home in College Point, New York listed at $750,000 with 1,716 square feet, built in 1940. 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 ($75,000), we fund the $188,760 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 New York or our New York hard money lending page.
From the listing. INVESTMENT OPPORTUNITY IN COLLEGE POINT! This 3-bedroom, 1.5-bathroom home offers excellent potential for investors, renovators, or buyers looking to create value in a desirable Queens neighborhood. Conveniently located near local shopping, restaurants, parks, major roadways, and public transportation, with Q25 bus service providing convenient access toward Jamaica and connections to the LIRR and other Queens destinations. CASH OFFERS ONLY. Bring your vision and unlock the potential of this well-located College Point property. Property being sold as-is.
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 | $75,000 (10%) | |
| Loan at closing | $675,000 | |
| Full renovation, rough estimate* | We fund $188,760 | |
| Total loan | $863,760 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($12,956) | |
| Appraisal | Required | |
| Estimated monthly interest | $7,191 at full draw | |
| Cash to close, rough estimate | $92,346 | |
Rough estimates at the list price of $750,000 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 $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 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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