Listing photoNorfolk, VA 23505 · MLS 10654336
"INVESTOR ALERT! AS IS. Opportunity to complete the renovation of 225 Filbert St. Property MUST be purchased together with 227 Filbert St. due to common ownership. Total purchase price for 225 & 227 Filbert St. is $192,900. Buyer to perform all due diligence and buildability requirements with the City of Norfolk. Survey will be provided to Buyer."
225 Filbert St is a 3-bedroom, 1-bath home in Norfolk, Virginia listed at $149,900 with 1,000 square feet, built in 1941. 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 ($14,990), we fund the $45,000 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. See every hard money opportunity in Virginia or our Virginia hard money lending page.
From the listing. INVESTOR ALERT! AS IS. Opportunity to complete the renovation of 225 Filbert St. Property MUST be purchased together with 227 Filbert St. due to common ownership. Total purchase price for 225 & 227 Filbert St. is $192,900. Buyer to perform all due diligence and buildability requirements with the City of Norfolk. Survey will be provided to Buyer.
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 | $14,990 (10%) | |
| Loan at closing | $134,910 | |
| Cosmetic renovation, rough estimate* | We fund $45,000 | |
| Total loan | $179,910 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($2,699) | |
| Appraisal | Required | |
| Estimated monthly interest | $1,462 at full draw | |
| Cash to close, rough estimate | $22,079 | |
Rough estimates at the list price of $149,900 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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