15361 Hubbell AveDetroit, Michigan

Detroit, MI 48227 · MLS 26039174

List price

$39,999

2 bd / 1 ba
Bedrooms / baths: 944 sq ft
Living area: 1923
Year built: 3,920 sq ft
Lot

"Cash offers only."

Listed by CASH FLOW INTERNATIONAL Long Long Realty Group, LLC (313) 862-2200

15361 Hubbell Ave is a 2-bedroom, 1-bath home in Detroit, Michigan listed at $39,999 with 944 square feet, built in 1923. 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 ($8,000), we fund the $42,480 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. Frame 2/1 with a full basement on a beautiful tree lined street. Handyman special! Cash offers only. Listing agent related to seller.

01 - Price This Property

Hard money financing on 15361 Hubbell 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 $39,999

State MI

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 $45 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 projects20% down at closing
3. Down payment20% 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

20% down

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

Cash to close, rough estimate $15,782

Loan at closing $31,999

Rate, interest only from 9.99%

Why not. The loan of $72,169 is under the $75,000 program minimum.

The cap of 87.5% of the total cost leaves $2,310 of the renovation for the buyer.
Add an after-repair value to confirm the total: the loan is also capped at 65% of it.

02 - The Numbers at Closing

15361 Hubbell Ave priced at the list price.

Item		Fix and flip: 20% down
At closing
Qualifies as entered	No
Buyer down payment	$8,000 (20%)
Loan at closing	$31,999
Cosmetic renovation, rough estimate*	We fund $40,170
Total loan	$72,169
Rate, interest only	from 9.99%
Points	1.5 ($1,083)
Appraisal	Required
Estimated monthly interest	$601 at full draw
Cash to close, rough estimate	$15,782

Rough estimates at the list price of $39,999 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.

We are the lender, not the listing agent. This property is listed by CASH FLOW INTERNATIONAL Long, Long Realty Group, LLC ((313) 862-2200). To see it or make an offer, contact CASH 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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