Listing photoWorcester, MA 01604
"Contractor Special, needs everything - currently has 2 full units and third studio unit in attic. Near train station and 290. Large driveway and back yard. Serious cash buyers only."
30 Penn Ave is a 4-bedroom, 2-bath home in Worcester, Massachusetts listed at $259,900 with 2,406 square feet, built in 1890. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with at least one completed project puts 10% down ($25,990), we fund the $264,660 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. See every hard money opportunity in Massachusetts or our Massachusetts hard money lending page.
From the listing. Contractor Special, needs everything - currently has 2 full units and third studio unit in attic. Near train station and 290. Large driveway and back yard. Serious cash buyers only.
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 | $25,990 (10%) | |
| Loan at closing | $233,910 | |
| Full renovation, rough estimate* | We fund $264,660 | |
| Total loan | $498,570 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($7,479) | |
| Appraisal | Required | |
| Estimated monthly interest | $4,051 at full draw | |
| Cash to close, rough estimate | $37,859 | |
Rough estimates at the list price of $259,900 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 $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 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.
More hard money deals in Worcester All Massachusetts opportunities Hard money lender in Massachusetts Fix and flip loans Every live opportunity
Cash or hard money only"It will NOT qualify for conventional or standard FHA financing."
"The property will not qualify for conventional financing and is best suited for cash buyers or renovation loan programs."
"Cash or hard money only; will not qualify for conventional financing."
Get pre-qualified in one call and write your offer with the financing already lined up.
