100 Franklin StEast Rockaway, New York

East Rockaway, NY 11518 · MLS 1054623

List price

$599,999

4 bd / 1 ba
Bedrooms / baths: 1,250 sq ft
Living area: 1926
Year built: 5,000 sq ft
Lot

"Property is being sold as-is. Cash, hard money, or 203(k) renovation financing only."

Listed by Jennifer Chavez Uncommon R E (631) 402-4804

100 Franklin St is a 4-bedroom, 1-bath home in East Rockaway, New York listed at $599,999 with 1,250 square feet, built in 1926. 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 ($60,000), we fund the $170,500 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. See every hard money opportunity in New York or our New York hard money lending page.

From the listing. INVESTOR SPECIAL!!!! - GREAT OPPORTUNITY IN EAST ROCKAWAY! 100 Franklin St is ready for its next transformation. This property is in need of a full renovation, making it an excellent opportunity for investors, contractors, or buyers looking to customize and add value. Bring your vision and unlock the potential this property has to offer. Conveniently located in East Rockaway with access to local shopping, transportation, and surrounding amenities. Property is being sold as-is. Cash, hard money, or 203(k) renovation financing only. Come take a look and imagine the possibilities!

01 - Price This Property

Hard money financing on 100 Franklin 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 $599,999

State NY

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$60,000 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 $75,047

Loan at closing $539,999

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

100 Franklin St priced at the list price.

Item		Fix and flip: 10% down
At closing
Qualifies as entered	Yes
Buyer down payment	$60,000 (10%)
Loan at closing	$539,999
Full renovation, rough estimate*	We fund $170,500
Total loan	$710,499
Rate, interest only	from 9.75%
Points	1.5 ($10,657)
Appraisal	Required
Estimated monthly interest	$5,773 at full draw
Cash to close, rough estimate	$75,047

Rough estimates at the list price of $599,999 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 $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 Jennifer Chavez, Uncommon R E ((631) 402-4804). To see it or make an offer, contact Jennifer 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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