Listing photoDetroit, MI 48224 · MLS 61032292
"Cash or hard money preferred."
5265 Cadieux Rd is a 3-bedroom, 1.5-bath home in Detroit, Michigan listed at $59,890 with 1,184 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 10% down ($5,989), we fund the $53,280 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. No Wholesalers! Investor Special in East English Village! Great opportunity at 5265 Cadieux Rd featuring 3 bedrooms, 1.5 bathrooms, and approximately 1,184 sq ft of living space. This property is ready for renovation and offers strong potential for an investor looking for their next project. Features include hardwood flooring throughout much of the home, a full basement, a detached garage, and a functional layout. Property sold as-is. Cash or hard money preferred. Buyer and buyer's agent to verify all information, measurements, condition, and potential value. Bring your contractor and schedule a showing!
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 | $5,989 (10%) | |
| Loan at closing | $53,901 | |
| Cosmetic renovation, rough estimate* | We fund $50,781 | |
| Total loan | $104,682 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($1,570) | |
| Appraisal | Required | |
| Estimated monthly interest | $871 at full draw | |
| Cash to close, rough estimate | $14,448 | |
Rough estimates at the list price of $59,890 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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