Listing photoChicago, IL 60621 · MLS 12768313
"CASH OR HARD MONEY OFFERS ONLY - INVESTOR SPECIAL!"
7230 S Wentworth Ave is a 6-bedroom, 4-bath home in Chicago, Illinois listed at $199,900 with 3,226 square feet, built in 1893. 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 15% down ($29,985), we fund the $354,860 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 Illinois or our Illinois hard money lending page.
From the listing. CASH OR HARD MONEY OFFERS ONLY - INVESTOR SPECIAL! 4-Unit Multifamily Value-Add Opportunity. Calling all investors, rehabbers, and experienced landlords! This 4-unit multifamily property is being offered AS-IS and presents an opportunity to renovate, reposition, and increase rental income. 1 unit currently vacant and available for showings, remaining 3 units are occupied. Buyers may submit offers contingent upon inspection of the occupied units. Property requires TLC and updating. Potential for significant renovation and value-add improvements. Convenient location near schools and within a desirable school district. New construction underway next door. Nearby 2-flat properties are selling in the high $400Ks, providing useful market context for investors evaluating the property's potential. Whether you're looking to renovate and hold, improve rents, or explore a redevelopment/new-construction strategy, this property is worth a closer look. Bring your contractor, run your numbers, and see what you can create with this property. Cash or hard money offers only. Property is being sold 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: 15% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | No | |
| Buyer down payment | $29,985 (15%) | |
| Loan at closing | $169,915 | |
| Full renovation, rough estimate* | We fund $354,860 | |
| Total loan | $524,775 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($7,872) | |
| Appraisal | Required | |
| Estimated monthly interest | $4,264 at full draw | |
| Cash to close, rough estimate | $42,247 | |
Rough estimates at the list price of $199,900 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.
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