Listing photoDetroit, MI 48224 · MLS 26055557
"Seller is highly motivated and looking for a fast, as-is cash deal. Bring all cash offers!"
11528 Wayburn St is a 3-bedroom, 1-bath home in Detroit, Michigan listed at $45,000 with 1,165 square feet, built in 1941. 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 20% down ($9,000), we fund the $52,425 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. Solid investment opportunity in one of Eastside Detroit's strongest cash-flow corridors! Located in the high-demand 48224 zip code where 3-bedroom rentals average $1,200-$1,300+/month this 3-bedroom brick bungalow offers a high-yield opportunity for investors. The home has strong foundational bones and only requires cosmetic touch-ups to achieve top market rent or a profitable flip project. Features a functional main floor layout, full upper dormer space, and private driveway. Seller is highly motivated and looking for a fast, as-is cash deal. Bring all cash offers!
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: 20% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $9,000 (20%) | |
| Loan at closing | $36,000 | |
| Cosmetic renovation, rough estimate* | We fund $49,247 | |
| Total loan | $85,247 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($1,279) | |
| Appraisal | Required | |
| Estimated monthly interest | $710 at full draw | |
| Cash to close, rough estimate | $17,847 | |
Rough estimates at the list price of $45,000 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"Cash offers only."
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