Listing photoTacoma, WA 98404 · MLS 2601258
"Property is being sold cash only, strictly AS-IS."
8230 E Sherwood St is a 3-bedroom, 1.5-bath home in Tacoma, Washington listed at $325,000 with 1,364 square feet, built in 1945. 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 ($32,500), we fund the $39,780 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 Washington or our Washington hard money lending page.
From the listing. Investor Alert in South Tacoma! This 3-bedroom, 1-bath home offers an excellent opportunity for investors, flippers, or those looking to add value. Features include a large, fully fenced yard, detached 2-car garage, and additional carport area with potential for a DADU (buyer to verify). Pre-inspection and sewer scope have already been completed. Property is being sold cash only, strictly AS-IS.
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 | $32,500 (10%) | |
| Loan at closing | $292,500 | |
| Cosmetic renovation, rough estimate* | We fund $39,780 | |
| Total loan | $332,280 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($4,984) | |
| Appraisal | Required | |
| Estimated monthly interest | $2,700 at full draw | |
| Cash to close, rough estimate | $41,874 | |
Rough estimates at the list price of $325,000 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 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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