Listing photo4223 Grand AveLouisville, Kentucky
Louisville, KY 40211 · MLS 1721085
- 2 bd / 1 ba
- Bedrooms / baths
- 910 sq ft
- Living area
- 1925
- Year built
"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."
4223 Grand Ave is a 2-bedroom, 1-bath home in Louisville, Kentucky listed at $64,500 with 910 square feet, built in 1925. 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 ($12,900), we fund the $100,100 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. Solid-built two-bed, one-bath home suited to a rental portfolio or a fixer-upper. Conveniently located to downtown Louisville, New Albany, and I-264 access. 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.
Hard money financing on 4223 Grand 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 projects20% down at closing
- 3. Down payment20% down$12,900 at closing
- The cap of 87.5% of the total cost leaves $7,675 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.
4223 Grand Ave priced at the list price.
| Item | Fix and flip: 20% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $12,900 (20%) | |
| Loan at closing | $51,600 | |
| Full renovation, rough estimate* | We fund $92,425 | |
| Total loan | $144,025 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($2,160) | |
| Appraisal | Required | |
| Estimated monthly interest | $1,199 at full draw | |
| Cash to close, rough estimate | $27,125 | |
Rough estimates at the list price of $64,500 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 $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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