Listing photoMount Vernon, NY 10550 · MLS 1038646
"Sold strictly as-is. Cash or hard money preferred."
15 Pearl St is a 3-bedroom, 1.5-bath home in Mount Vernon, New York listed at $299,999 with 1,500 square feet, built in 1940. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with at least one completed project puts 10% down ($30,000), we fund the $165,000 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. See every hard money opportunity in New York or our New York hard money lending page.
From the listing. Bring your contractor and your vision to 15 Pearl Street. This property is a total shell, offering a true blank canvas for a full interior and exterior transformation. Perfectly positioned for seasoned investors and contractors, this is a prime opportunity to build significant equity through a complete renovation. The value is in the footprint and the chance to customize every square inch in a sought-after Mount Vernon location. Sold strictly as-is. Cash or hard money preferred. Don't miss this chance to reimagine a property from the ground up.
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 | $30,000 (10%) | |
| Loan at closing | $269,999 | |
| Full renovation, rough estimate* | We fund $165,000 | |
| Total loan | $434,999 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($6,525) | |
| Appraisal | Required | |
| Estimated monthly interest | $3,534 at full draw | |
| Cash to close, rough estimate | $40,915 | |
Rough estimates at the list price of $299,999 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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