14834 Mark Twain StDetroit, Michigan

Detroit, MI 48227 · MLS 61032659

List price

$45,000

4 bd / 2 ba
Bedrooms / baths: 2,050 sq ft
Living area: 1925
Year built: 4,791 sq ft
Lot

"CASH-ONLY SALE. The sale price is not negotiable. This property requires a complete rehabilitation, including a new roof and windows. There is currently a hole in the roof. Showings are at the buyer's and buyer's agent's own risk, and all parties entering the property should exercise extreme caution. Property is being sold AS-IS."

Listed by Thomas Hutt RE/MAX Classic (248) 646-5000

14834 Mark Twain St is a 4-bedroom, 2-bath home in Detroit, Michigan listed at $45,000 with 2,050 square feet, built in 1925. 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 ($4,500), we fund the $225,500 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. CASH-ONLY SALE. The sale price is not negotiable. This property requires a complete rehabilitation, including a new roof and windows. There is currently a hole in the roof. Showings are at the buyer and buyer agent own risk, and all parties entering the property should exercise extreme caution. Property is being sold AS-IS. Attention homeowners and investors, this is an opportunity to own a duplex and live in one unit while renting the other, or lease both units for maximum rental income. Both units include appliances and share a spacious basement. Additional features include a 2-car garage, spacious yard, and 44 x 112 lot.

01 - Price This Property

Hard money financing on 14834 Mark Twain St: 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 $45,000

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 $110 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, high-score terms
2. Your experience1 to 2 projectsTier 2: 10% down
3. Down payment10% down$4,500 at closing

You qualifyAt a 740 score with 1 completed project, you qualify for 10% down on this property with the renovation funded.

Fix and flip, experienced

10% down

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

Cash to close, rough estimate $12,880

Loan at closing $40,500

Rate, interest only from 9.75%

A 740 or better score on a purchase under $750,000 gets the high-score terms: the loan can reach 90% of after-repair value instead of 75%.
Experience Tier 2 on 1 completed project in three years: 10% down, 100% of the renovation funded.

02 - The Numbers at Closing

14834 Mark Twain St priced at the list price.

Item		Fix and flip: 10% down
At closing
Qualifies as entered	Yes
Buyer down payment	$4,500 (10%)
Loan at closing	$40,500
Full renovation, rough estimate*	We fund $225,500
Total loan	$266,000
Rate, interest only	from 9.75%
Points	1.5 ($3,990)
Appraisal	Required
Estimated monthly interest	$2,161 at full draw
Cash to close, rough estimate	$12,880

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 $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.

We are the lender, not the listing agent. This property is listed by Thomas Hutt, RE/MAX Classic ((248) 646-5000). To see it or make an offer, contact Thomas 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

More hard money deals in Detroit All Michigan opportunities Hard money lender in Michigan Fix and flip loans Every live opportunity

Nearby

More cash and hard money listings in Detroit.

Cash or hard money only

Detroit, MI

4 bd home in Detroit

Street address with a free account

$105,000

4 bd · 2.5 ba · 1,842 sq ft · Built 1928

"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."

Pricing and profitability Sign in to see

Renovation estimate, rough $82,890

Listed by Thomas Hutt, RE/MAX Classic

See the listing and the financing