Listing photoSummerville, SC 29483 · MLS 26024572
"Handyman Investor special in Corey Woods!"
128 Five Iron Circle is a 4-bedroom, 2-bath home in Summerville, South Carolina listed at $259,000 with 1,824 square feet, built in 1989. 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 25% down ($64,750), we fund the $200,640 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 South Carolina or our South Carolina hard money lending page.
From the listing. Handyman Investor special in Corey Woods! Cash or rehab loan only. This 4-bedroom, 2-bath brick ranch sits on a wooded, private lot and needs interior renovation. The original garage was converted into a 4th bedroom with its own separate exterior entrance, giving the floor plan flexibility for a rental configuration or in-law suite once renovated. The vaulted living room centers on a brick, wood-mantel fireplace that's a keeper focal point for any renovation plan. The eat-in kitchen retains its original oak cabinetry and tile flooring -- functional layout, but cabinetry, counters and appliances all need updating. Both full bathrooms need to be remodeled. Carpet and flooring need replacement throughout, and walls need drywall repair and paint. A covered rear patio leads to a large multi-level wood deck with gazebo; the deck is structurally deteriorated with broken/collapsed stairs and is being sold strictly as-is -- buyer to inspect and budget for removal or full rebuild. Mature hardwoods shade the oversized lot. Not suitable for owner-occupant financing -- cash, hard money, or renovation loan only. Sold strictly as-is; seller will make no repairs.
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: 25% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $64,750 (25%) | |
| Loan at closing | $194,250 | |
| Full renovation, rough estimate* | We fund $200,640 | |
| Total loan | $394,890 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($5,923) | |
| Appraisal | Required | |
| Estimated monthly interest | $3,208 at full draw | |
| Cash to close, rough estimate | $75,063 | |
Rough estimates at the list price of $259,000 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 $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 takes a 740 score or a deeper track record; a first flip under 720 puts 25% 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"The home needs a lot of work and is well suited for a full-scale renovation."
Cash or hard money only"The interior needs renovation."
Cash or hard money only"Cash or hard money lender only."
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