Listing photo6 E 25th StWilmington, Delaware
Wilmington, DE 19802 · MLS DENC2109114
- 3 bd / 1 ba
- Bedrooms / baths
- 1,125 sq ft
- Living area
- 1922
- Year built
- 1,307 sq ft
- Lot
"Cash or hard money preferred."
6 E 25th St is a 3-bedroom, 1-bath home in Wilmington, Delaware listed at $95,000 with 1,125 square feet, built in 1922. 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 ($9,500), we fund the $50,625 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 Delaware or our Delaware hard money lending page.
From the listing. Attention Investors, Flippers, and Equity builders! If you’re searching for your next ROI project in Northern Delaware, this 3-bedroom, 1-bathroom row home in the City of Wilmington is brimming with untapped potential.
Hard money financing on 6 E 25th St: what you qualify for.
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.
- 1. Your score740Qualifies
- 2. Your experience1 to 2 projects10% down at closing
- 3. Down payment10% down$9,500 at closing
- The cap of 92.5% of the total cost leaves $1,422 of the renovation for the buyer.
- With one to four completed projects in three years and a moderate (half to all of the price) renovation: up to 90% of the price at closing and up to 100% of the renovation.
- Ten or more completed flips (five in this state) with a 720 score reach 100% financing on this property.
- Add an after-repair value to confirm the total: the loan is also capped at 72.5% of it.
6 E 25th St priced at the list price.
| Item | Fix and flip: 10% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $9,500 (10%) | |
| Loan at closing | $85,500 | |
| Cosmetic renovation, rough estimate* | We fund $49,203 | |
| Total loan | $134,703 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($2,021) | |
| Appraisal | Required | |
| Estimated monthly interest | $1,121 at full draw | |
| Cash to close, rough estimate | $17,332 | |
Rough estimates at the list price of $95,000 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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