Listing photoRego Park, NY 11374 · MLS 1043533
"CASH ONLY!"
61-43 Wetherole St is a 3-bedroom, 1-bath home in Rego Park, New York listed at $824,888 with 1,344 square feet, built in 1930. 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 ($82,489), we fund the $60,480 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. *CASH ONLY! CASH ONLY! CASH ONLY! NOT MORTGAGEABLE!* (see pics) RARE OPPORTUNITY IN THE HEART OF REGO PARK! Discover the incredible potential of this detached colonial style home, ideally located near everything Rego Park has to offer. It offers 3 generously sized bedrooms, 1 full bathroom with tub and shower, a large living room, formal dining room and an eat-in kitchen. The home also offers a full finished basement fenced backyard, 1 car garage and a private driveway for an additional vehicle. The property needs renovation and cosmetic updating, presenting a fantastic opportunity to transform it into something truly special. Conveniently located near public transportation, major highways, parks, grocery stores, shopping, dining, and everyday amenities. Whether you're looking to live here or use it as an opportunity to transform & sell for a profit, this property offers excellent potential in a highly desirable location. Just bring your vision & your contractor! This home has 3 Spacious Bedrooms, 1 Full Bathroom, Eat-In Kitchen, Huge Living Room, Formal Dining Room, Full Unfinished Basement, Backyard. WILL BE DELIVERED VACANT!
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 | $82,489 (10%) | |
| Loan at closing | $742,399 | |
| Cosmetic renovation, rough estimate* | We fund $60,480 | |
| Total loan | $802,879 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($12,043) | |
| Appraisal | Required | |
| Estimated monthly interest | $6,523 at full draw | |
| Cash to close, rough estimate | $98,922 | |
Rough estimates at the list price of $824,888 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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Cash or hard money only"CASH ONLY."
Get pre-qualified in one call and write your offer with the financing already lined up.
