Listing photoDetroit, MI 48228 · MLS 60988160
"Seller is looking for cash or hard money offers only. House is being sold without a furnace or hot water tank. Seller will not make repairs."
8842 Longacre St is a 2-bedroom, 1-bath home in Detroit, Michigan listed at $65,000 with 1,589 square feet, built in 1944. 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 ($6,500), we fund the $174,790 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. See every hard money opportunity in Michigan or our Michigan hard money lending page.
From the listing. Charming 2-bedroom, 1-bath brick ranch offering comfortable single-level living in Detroit! Seller is looking for cash or hard money offers only. House is being sold without a furnace or hot water tank. Seller will not make repairs. This home features a functional layout with a bright living area, spacious bedrooms, and a full bath. The classic brick exterior adds curb appeal and durability, while the detached 1-car garage provides convenient parking and extra storage. Ideal for first-time buyers or investors, this property offers great potential with room to make it your own. Conveniently located near major roads, shopping, and local amenities. Dont miss this opportunity!
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 | $6,500 (10%) | |
| Loan at closing | $58,500 | |
| Full renovation, rough estimate* | We fund $174,790 | |
| Total loan | $233,290 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($3,499) | |
| Appraisal | Required | |
| Estimated monthly interest | $1,895 at full draw | |
| Cash to close, rough estimate | $14,389 | |
Rough estimates at the list price of $65,000 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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Cash or hard money only"This is a CASH ONLY Sale."
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