Listing photoDetroit, MI 48227 · MLS 61018638
"This is a CASH ONLY Sale. There are multiple plumbing leaks in the property. Property is being sold AS-IS"
15307 Biltmore St is a 4-bedroom, 2.5-bath home in Detroit, Michigan listed at $105,000 with 1,842 square feet, built in 1928. 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 ($10,500), we fund the $82,890 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 Michigan or our Michigan hard money lending page.
From the listing. This is a CASH ONLY Sale. There are multiple plumbing leaks in the property. Property is being sold AS-IS. Attention homeowners and investors--this is your opportunity to own a duplex and live in one unit while renting the other, or lease both units for maximum income. This duplex is ideal for investors or savvy buyers looking to house hack. The property features a solid two-family flat with a 2-bedroom lower unit and a 1-bedroom upper unit with a porch. Both units include appliances and share a spacious basement. Additional features include a 2-car garage, a nice yard, and a 44 x 112 lot. Situated on a desirable block and with Detroit's rental demand continuing to rise, this is an excellent opportunity to secure a multi-family property with proven upside. Bring your vision and schedule your showing today.
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 | $10,500 (10%) | |
| Loan at closing | $94,500 | |
| Cosmetic renovation, rough estimate* | We fund $79,298 | |
| Total loan | $173,798 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($2,607) | |
| Appraisal | Required | |
| Estimated monthly interest | $1,447 at full draw | |
| Cash to close, rough estimate | $21,089 | |
Rough estimates at the list price of $105,000 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.
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Cash or hard money only"The property is being sold for CASH ONLY and proof of cash funds less than 30 days old is required prior to viewing the property."
Cash or hard money only"Cash offers only. Buyer and buyer’s agent to verify all information."
Cash or hard money only"CASH-ONLY INVESTOR SPECIAL ON E."
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