Listing photoOceanside, NY 11572 · MLS 1041863
"With some TLC, this home can truly shine. Conveniently located and full of potential, this is a great opportunity for homeowners, investors, or builders alike. Property is being sold strictly AS IS."
573 Grove Pl is a 3-bedroom, 1-bath home in Oceanside, New York listed at $629,000 with 1,176 square feet, built in 1952. 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 ($62,900), we fund the $52,920 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. Opportunity awaits! This 3-bedroom, 1-bath Cape is situated on an oversized 75 x 126 property and offers endless possibilities for renovation, expansion, or customization. Features include attached 2-car garage and a spacious yard with plenty of room to create your ideal outdoor space. With some TLC, this home can truly shine. Conveniently located and full of potential, this is a great opportunity for homeowners, investors, or builders alike. Property is being sold strictly AS IS.
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 | $62,900 (10%) | |
| Loan at closing | $566,100 | |
| Cosmetic renovation, rough estimate* | We fund $52,920 | |
| Total loan | $619,020 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($9,285) | |
| Appraisal | Required | |
| Estimated monthly interest | $5,030 at full draw | |
| Cash to close, rough estimate | $76,575 | |
Rough estimates at the list price of $629,000 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 $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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Hard money welcome"Cash or 203k/renovation loan/financing only."
"House needs TLC."
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