Listing photoWest Hempstead, NY 11552 · MLS 991531
"The property requires TOTAL TLC and is being sold strictly AS-IS, making it best suited for cash buyers seeking a project with upside..."
361 Walton St is a 4-bedroom, 1-bath home in West Hempstead, New York listed at $721,500 with 1,205 square feet, built in 1947. 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 ($72,150), we fund the $56,205 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. This property offers a opportunity for buyers with vision. The interior is currently Totally filled with personal belongings from owners other homes furniture and is not accessible, so showings are limited strictly to exterior viewing only. The property requires TOTAL TLC and is being sold strictly AS-IS, making it best suited for cash buyers seeking a project with upside potential. No contingencies will be considered. This was a Doctor's residential with an in house office on a Corner lot with a long private driveway with parking for up to six vehicles, plus a detached garage. The property will be delivered vacant at closing.
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 | $72,150 (10%) | |
| Loan at closing | $649,350 | |
| Cosmetic renovation, rough estimate* | We fund $56,205 | |
| Total loan | $705,555 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($10,583) | |
| Appraisal | Required | |
| Estimated monthly interest | $5,874 at full draw | |
| Cash to close, rough estimate | $87,123 | |
Rough estimates at the list price of $721,500 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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