Listing photoLouisville, KY 40210 · MLS 1732362
"This home may not qualify for all types of financing due to condition."
1938 S 28th St is a 2-bedroom, 1-bath home in Louisville, Kentucky listed at $77,500 with 700 square feet, built in 1953. 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 ($7,750), we fund the $31,500 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 Kentucky or our Kentucky hard money lending page.
From the listing. Attention investors and DIY buyers! Income potential on this 2 bedroom, 1 bath home featuring a private driveway, a fenced in backyard and a covered front porch. This home is in need of some repairs and updates and will be sold in AS IS condition. This home may not qualify for all types of financing due to condition. Seller will not make any repairs, replacements, additions or updates. Seller will only entertain AS IS offers and prefers a quick close.
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 | $7,750 (10%) | |
| Loan at closing | $69,750 | |
| Cosmetic renovation, rough estimate* | We fund $31,500 | |
| Total loan | $101,250 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($1,519) | |
| Appraisal | Required | |
| Estimated monthly interest | $843 at full draw | |
| Cash to close, rough estimate | $13,659 | |
Rough estimates at the list price of $77,500 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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Cash or hard money only"Home does need repairs and will not qualify for most traditional financing in it's current state, and as such, is being sold as-is."
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