Listing photoProvidence, RI 02907 · MLS 1423248
"Please note: the building requires exterior improvements, and financing options are expected to be very limited due to the exterior condition and lack of association reserves. Cash buyers are strongly encouraged."
29 Laura St #2 is a 2-bedroom, 1-bath home in Providence, Rhode Island listed at $175,000 with 1,383 square feet, built in 1910. 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 ($17,500), we fund the $62,235 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. See every hard money opportunity in Rhode Island or our Rhode Island hard money lending page.
From the listing. Opportunity awaits with this unique 2-bedroom, 1-bath condominium in Providence's Elmwood neighborhood. Located on the second floor, this unit offers plenty of character with hardwood floors in the main living areas and bedrooms, complemented by tile flooring in the kitchen, pantry, and bath. The spacious double living room provides flexibility for separate living, dining, or additional flex space. The kitchen features granite countertops, a gas range, refrigerator, dishwasher, and pantry for extra storage. Additional features include private basement storage with laundry, one parking space, a front porch, and a low condo fee of just $300 per month, which includes city water, city sewer, and master insurance. The unit is tenant-occupied on a month-to-month lease, offering flexibility for investors or future owner-occupants. Please note: the building requires exterior improvements, and financing options are expected to be very limited due to the exterior condition and lack of association reserves. Cash buyers are strongly encouraged. This unit may also be purchased together with the third-floor unit, MLS #1417584.
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 | $17,500 (10%) | |
| Loan at closing | $157,500 | |
| Cosmetic renovation, rough estimate* | We fund $62,235 | |
| Total loan | $219,735 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($3,296) | |
| Appraisal | Required | |
| Estimated monthly interest | $1,785 at full draw | |
| Cash to close, rough estimate | $25,186 | |
Rough estimates at the list price of $175,000 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.
More hard money deals in Providence All Rhode Island opportunities Hard money lender in Rhode Island Fix and flip loans Every live opportunity
Hard money welcome"Please note the building requires exterior improvements, and financing options are expected to be very limited due to the property's exterior condition and lack of association reserves. Cash buyers are strongly encouraged."
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