Listing photoVirginia Beach, VA 23464 · MLS 10647265
"Due to its condition, this is a cash or renovation deal."
5031 Indian River Rd is a 4-bedroom, 1-bath home in Virginia Beach, Virginia listed at $219,900 with 1,560 square feet, built in 1957. 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 ($21,990), we fund the $70,200 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 Virginia or our Virginia hard money lending page.
From the listing. Fantastic investment opportunity in the heart of Virginia Beach! This diamond in the rough sits on 0.20 acres right along Indian River Rd, great for a full rehab project. The existing 4-bedroom, 1-bath ranch has tons of potential, or you can start fresh and build your dream home. Due to its condition, this is a cash or renovation deal. Bring your contractor, and your vision! Property sold as is where is; seller to 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: 10% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $21,990 (10%) | |
| Loan at closing | $197,910 | |
| Cosmetic renovation, rough estimate* | We fund $70,200 | |
| Total loan | $268,110 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($4,022) | |
| Appraisal | Required | |
| Estimated monthly interest | $2,232 at full draw | |
| Cash to close, rough estimate | $30,402 | |
Rough estimates at the list price of $219,900 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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