Listing photo178 Tonnelle AveJersey City, New Jersey
Jersey City, NJ 07306 · MLS 260016185
- 3 bd / 2 ba
- Bedrooms / baths
- 1,296 sq ft
- Living area
- 1889
- Year built
"ATTENTION BUILDERS & INVESTORS – CASH OR HARD MONEY ONLY - GUTTED JSQ PROPERTY WITH APPROVED PLANS."
178 Tonnelle Ave is a 3-bedroom, 2-bath home in Jersey City, New Jersey listed at $499,000 with 1,296 square feet, built in 1889. 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 ($49,900), we fund the $142,560 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 New Jersey or our New Jersey hard money lending page.
From the listing. ATTENTION BUILDERS & INVESTORS - CASH OR HARD MONEY ONLY - GUTTED JSQ PROPERTY WITH APPROVED PLANS. Gutted Journal Square property near the PATH station, sold strictly as-is, with approved plans for a luxury single family home (5 bedroom, 3.5 bath, finished basement, roof deck). Buyers must verify plans, permits, costs and zoning.
Hard money financing on 178 Tonnelle Ave: 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 projects10% down at closing
- 3. Down payment10% down$49,900 at closing
- With one to four completed projects in three years and a light (under half the price) renovation: up to 90% of the price at closing and up to 100% of the renovation.
- Ten or more completed flips (five in this state) with a 720 score reach 100% financing on this property.
- Add an after-repair value to confirm the total: the loan is also capped at 75% of it.
178 Tonnelle Ave priced at the list price.
| Item | Fix and flip: 10% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $49,900 (10%) | |
| Loan at closing | $449,100 | |
| Full renovation, rough estimate* | We fund $142,560 | |
| Total loan | $591,660 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($8,875) | |
| Appraisal | Required | |
| Estimated monthly interest | $4,926 at full draw | |
| Cash to close, rough estimate | $63,165 | |
Rough estimates at the list price of $499,000 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.
More hard money deals in Jersey City All New Jersey opportunities Hard money lender in New Jersey Fix and flip loans Every live opportunity
Want to buy 178 Tonnelle Ave?
Get pre-qualified in one call and write your offer with the financing already lined up.