Listing photoRichmond, VA 23221 · MLS 2629343
"This property is being sold strictly as-is. Seller prefers no inspections. Cash offers preferred."
3111 Ellwood Ave is a 4-bedroom, 2-bath home in Richmond, Virginia listed at $379,900 with 1,604 square feet, built in 1922. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 10% down ($37,990), we fund the $176,440 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. See every hard money opportunity in Virginia or our Virginia hard money lending page.
From the listing. Investment opportunity in a fantastic Carytown location! Originally constructed as a single family home in 1922 and later converted to a duplex, this rowhouse is in need of complete renovation. A detached garage is accessed from the alley in the rear and just across the alley are shops in the Carytown Shopping District! Level one consists of an entry foyer, a living room with French doors to a den (or dining room), a full bath and the kitchen. Upstairs, you'll find another full bath, three bedrooms and a small trunk room that was converted to a kitchen at one point. This property is being sold strictly as-is. Seller prefers no inspections. Cash offers preferred. Here's your chance for you to invest in one of Richmond, Virginia's most desirable and historic neighborhoods. Priced well below current assessment and to allow for needed renovations! Property currently occupied. Seller has initiated eviction process. Scheduling showings to qualified buyers could take a few days.
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 | $37,990 (10%) | |
| Loan at closing | $341,910 | |
| Full renovation, rough estimate* | We fund $176,440 | |
| Total loan | $518,350 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($7,775) | |
| Appraisal | Required | |
| Estimated monthly interest | $4,315 at full draw | |
| Cash to close, rough estimate | $50,155 | |
Rough estimates at the list price of $379,900 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 $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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