Listing photoEuclid, OH 44123 · MLS 5255525
"Property is being sold strictly AS-IS, with the buyer to assume all Point of Sale (POS) inspection violations and any required repairs."
240 E 238th St is a 2-bedroom, 1-bath home in Euclid, Ohio listed at $69,000 with 600 square feet, built in 1928. 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 ($6,900), we fund the $27,000 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 Ohio or our Ohio hard money lending page.
From the listing. 2 bed, 1 bath ranch near the lake, 600 sq ft, carport and detached garage. Sold strictly as-is, buyer assumes Point of Sale violations. Cash only.
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 | $6,900 (10%) | |
| Loan at closing | $62,100 | |
| Cosmetic renovation, rough estimate* | We fund $27,000 | |
| Total loan | $89,100 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($1,337) | |
| Appraisal | Required | |
| Estimated monthly interest | $742 at full draw | |
| Cash to close, rough estimate | $12,627 | |
Rough estimates at the list price of $69,000 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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