Listing photoNew Orleans, LA 70122 · MLS 2578022
"Attn: Investors, Fixer Uppers, Rehabbers. Great opportunity awaits in Gentilly. Home built in 2000 and is in need of a Total Renovation. 3 bedrooms & 2 bathrooms with approx. 1727 Sq. ft. Covered carport & nice size yard. Situated by the upcoming Mirabeau walking park. Electricity and water is not on. Property being sold As is condition. All offers must have pre approval letter or proof of funds."
4430 Wellington Ave is a 3-bedroom, 2-bath home in New Orleans, Louisiana listed at $179,000 with 1,727 square feet, built in 2000. 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 ($17,900), we fund the $189,970 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. See every hard money opportunity in Louisiana or our Louisiana hard money lending page.
From the listing. Attn: Investors, Fixer Uppers, Rehabbers. Great opportunity awaits in Gentilly. Home built in 2000 and is in need of a Total Renovation. 3 bedrooms and 2 bathrooms with approx. 1727 sq. ft. Covered carport and nice size yard. Situated by the upcoming Mirabeau walking park. Electricity and water is not on. Property being sold As is condition. All offers must have pre approval letter or proof of funds.
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 | $17,900 (10%) | |
| Loan at closing | $161,100 | |
| Full renovation, rough estimate* | We fund $189,970 | |
| Total loan | $351,070 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($5,266) | |
| Appraisal | Required | |
| Estimated monthly interest | $2,852 at full draw | |
| Cash to close, rough estimate | $27,556 | |
Rough estimates at the list price of $179,000 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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"Cash only, no owner financing, quick close."
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