Listing photo8296 E 46th StIndianapolis, Indiana
Indianapolis, IN 46226 · MLS 22134440
- 4 bd / 2 ba
- Bedrooms / baths
- 3,147 sq ft
- Living area
- 1956
- Year built
- 12,197 sq ft
- Lot
"** CASH BUYERS ONLY.** Due to the property's current condition and safety concerns, **no interior access or showings will be permitted.**"
8296 E 46th St is a 4-bedroom, 2-bath home in Indianapolis, Indiana listed at $40,000 with 3,147 square feet, built in 1956. 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 $346,170 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 Indiana or our Indiana hard money lending page.
From the listing. Property is being sold strictly AS-IS. CASH BUYERS ONLY. No interior access or showings will be permitted due to the property's current condition and safety concerns.
Hard money financing on 8296 E 46th 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.
- 1. Your score740Qualifies
- 2. Your experience1 to 2 projects20% down at closing
- 3. Down payment20% down$8,000 at closing
- The cap of 87.5% of the total cost leaves $40,271 of the renovation for the buyer.
- With one to four completed projects in three years and a heavy (the price or more) renovation: up to 80% of the price at closing and up to 100% of the renovation.
- Add an after-repair value to confirm the total: the loan is also capped at 65% of it.
8296 E 46th St priced at the list price.
| Item | Fix and flip: 20% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $8,000 (20%) | |
| Loan at closing | $32,000 | |
| Full renovation, rough estimate* | We fund $305,899 | |
| Total loan | $337,899 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($5,068) | |
| Appraisal | Required | |
| Estimated monthly interest | $2,813 at full draw | |
| Cash to close, rough estimate | $57,730 | |
Rough estimates at the list price of $40,000 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.
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