Listing photoStaten Island, NY 10306 · MLS 2604574
"Cash buyers only"
231 Otis Ave is a 5-bedroom, 2.5-bath home in Staten Island, New York listed at $750,000 with 1,164 square feet, built in 1935. 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 ($75,000), we fund the $52,380 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 New York or our New York hard money lending page.
From the listing. Legal two-family home offering excellent investment potential. The first-floor unit features three bedrooms, while the second floor offers two bedrooms. Private driveway, detached garage, and spacious backyard. Second-floor unit is tenant-occupied. Property is being sold strictly As-Is. Seller will not deliver the second-floor unit vacant. Cash buyers only
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 | $75,000 (10%) | |
| Loan at closing | $675,000 | |
| Cosmetic renovation, rough estimate* | We fund $52,380 | |
| Total loan | $727,380 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($10,911) | |
| Appraisal | Required | |
| Estimated monthly interest | $6,055 at full draw | |
| Cash to close, rough estimate | $90,301 | |
Rough estimates at the list price of $750,000 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"DRIVE BY ONLY CASH OFFERS ONLY."
Cash or hard money only"CASH OFFERS ONLY!"
Cash or hard money only".THE PROPERTY REQUIRES WORK AND IS BEING OFFERED STRICTLY AS A CASH PURCHASE."
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