Listing photoSpencer, MA 01562 · MLS 73578542
"This property will require cash sale or hard money lender."
49 Wire Village Rd is a 2-bedroom, 1-bath home in Spencer, Massachusetts listed at $301,600 with 1,004 square feet, built in 1967. 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 ($30,160), we fund the $45,180 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 Massachusetts or our Massachusetts hard money lending page.
From the listing. Great setting for this ranch with farmers porch. Large lot with potential for two car garage. Large livingroom with vaulted ceiling open to cabinet packed kitchen. Use your imagination and build sweat equity with this gem. Seller is not going to do any repairs and the title 5 will be the responsibility of the buyer once they take ownership. This property will require cash sale or hard money lender.
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 | $30,160 (10%) | |
| Loan at closing | $271,440 | |
| Cosmetic renovation, rough estimate* | We fund $45,180 | |
| Total loan | $316,620 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($4,749) | |
| Appraisal | Required | |
| Estimated monthly interest | $2,636 at full draw | |
| Cash to close, rough estimate | $39,299 | |
Rough estimates at the list price of $301,600 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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