Listing photoSanta Barbara, CA 93108 · MLS 26-3091
"This 1952 single-story ranch cottage sits on nearly half an acre (0.49 AC) beneath mature oaks, offering a classic mid-century fixer-upper ready for its next chapter."
1588 E Valley Rd is a 1-bedroom, 2-bath home in Santa Barbara, California listed at $2,999,500 with 1,181 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 ($299,950), we fund the $53,145 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. A California buyer can also close in 3 days with 35% down and no appraisal. See every hard money opportunity in California or our California hard money lending page.
From the listing. Rare Montecito opportunity on a secluded flag lot, 1952 single-story ranch cottage on nearly half an acre beneath mature oaks, a classic mid-century fixer-upper ready for its next chapter.
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 | Option 1: 35% down | Option 2: 10% down |
|---|---|---|
| At closing | ||
| Qualifies as entered | Pre-screen | Yes |
| Buyer down payment | $299,950 (10%) | $1,049,825 (35%) |
| Loan at closing | $2,699,550 | $1,949,675 |
| Cosmetic renovation, rough estimate* | We fund $53,145 | Buyer pays $53,145 |
| Total loan | $2,752,695 | $1,949,675 |
| Rate, interest only | from 9.25% | 10.5% |
| Points | 1.5 ($41,290) | 1.5 ($29,245) |
| Appraisal | Required | None |
| Estimated monthly interest | $21,219 at full draw | $17,060 |
| Cash to close, rough estimate | $345,630 | $1,079,070 |
Rough estimates at the list price of $2,999,500 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. The no-appraisal option is available in major California markets. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.
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