Listing photoRoosevelt, NY 11575 · MLS 1051523
"Great opportunity for any buyer as a First Home to live in one unit and rent the second unit or also great for Investment. Huge and gated backyard with possibly Subdivision. Also Big parking Space, needs Some TLC."
224 Park Ave is a 5-bedroom, 2-bath home in Roosevelt, New York listed at $689,998 with 1,186 square feet, built in 1959. 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 ($69,000), we fund the $53,370 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. Investor Opportunity, Unique brick Cape in Roosevelt, close to all amenities, restaurants, supermarkets, main roads and transportation 2 Family by permit. Great opportunity for any buyer as a First Home to live in one unit and rent the second unit or also great for Investment. Huge and gated backyard with possibly Subdivision. Also Big parking Space, needs Some TLC.
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 | $69,000 (10%) | |
| Loan at closing | $620,998 | |
| Cosmetic renovation, rough estimate* | We fund $53,370 | |
| Total loan | $674,368 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($10,116) | |
| Appraisal | Required | |
| Estimated monthly interest | $5,479 at full draw | |
| Cash to close, rough estimate | $83,505 | |
Rough estimates at the list price of $689,998 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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Get pre-qualified in one call and write your offer with the financing already lined up.
