Listing photoMeriden, CT 06451 · MLS 24212713
"This is a cash purchase, as it will not qualify for traditional financing."
44 Fourth St is a 3-bedroom, 1.5-bath home in Meriden, Connecticut listed at $189,000 with 1,787 square feet, built in 1890. 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 ($37,800), we fund the $196,570 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 Connecticut or our Connecticut hard money lending page.
From the listing. Investor opportunity. Value add potential with this 1,787 sq ft Colonial featuring 3 bedrooms, 1 full bathroom, and 1 half bathroom with a good-sized fenced-in backyard. The property is being sold strictly in as-is condition. This is a cash purchase, as it will not qualify for traditional financing.
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: 20% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $37,800 (20%) | |
| Loan at closing | $151,200 | |
| Full renovation, rough estimate* | We fund $186,174 | |
| Total loan | $337,374 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($5,061) | |
| Appraisal | Required | |
| Estimated monthly interest | $2,809 at full draw | |
| Cash to close, rough estimate | $57,647 | |
Rough estimates at the list price of $189,000 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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