3661 E 59th StCleveland, Ohio

Cleveland, OH 44105 · MLS 5247772

List price

$74,900

5 bd / 3 ba
Bedrooms / baths: 2,311 sq ft
Living area: 1900
Year built

"INVESTOR OPPORTUNITY!"

Listed by Pete Cymbal TimberVine Group (216) 353-4120

3661 E 59th St is a 5-bedroom, 3-bath home in Cleveland, Ohio listed at $74,900 with 2,311 square feet, built in 1900. 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 ($11,235), we fund the $103,995 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 Ohio or our Ohio hard money lending page.

From the listing. INVESTOR OPPORTUNITY! 5-bedroom, 3-bath home with plenty of potential! This property offers a simple layout, a nice yard, and an opportunity to make it your own. The home will need repairs and updates, making it a great option for investors, flippers, or buyers who are not afraid of a project. With some work and vision, this home could be transformed into a comfortable place to live or a valuable investment property.

01 - Price This Property

Hard money financing on 3661 E 59th 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.

List price $74,900

State OH

Your credit score, approximate

Type a number, like 720. A ballpark is fine and nothing is pulled. Leave it empty if you have no score.

Investment projects you completed in the last 3 years

Flips, rentals bought and sold, or builds. Decides the down payment.

Renovation budget

Our super rough estimate at $45 per sq ft. Put in your contractor's number if you have one.

After-repair value, if you know it

The loan stays under 75% of it. Leave blank to size on the price alone.

1. Your score740Qualifies
2. Your experience1 to 2 projectsTier 2: 15% down
3. Down payment15% downNot priced as entered: see why below

Not yetAt a 740 score with 1 completed project, this property does not price on our programs as entered. The reasons are below; change what you can, or call the desk.

Fix and flip, experienced

15% down

We fund 100% of the renovation. Closes in 2 weeks.

Cash to close, rough estimate $18,140

Loan at closing $63,665

Rate, interest only from 9.75%

Why not. An extensive (100% of the price or more) renovation is not offered at Tier 2. It opens at Tier 3 (3 or more completed projects).

02 - The Numbers at Closing

3661 E 59th St priced at the list price.

Item		Fix and flip: 15% down
At closing
Qualifies as entered	No
Buyer down payment	$11,235 (15%)
Loan at closing	$63,665
Cosmetic renovation, rough estimate*	We fund $103,995
Total loan	$167,660
Rate, interest only	from 9.75%
Points	1.5 ($2,515)
Appraisal	Required
Estimated monthly interest	$1,362 at full draw
Cash to close, rough estimate	$18,140

Rough estimates at the list price of $74,900 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.

We are the lender, not the listing agent. This property is listed by Pete Cymbal, TimberVine Group ((216) 353-4120). To see it or make an offer, contact Pete directly, or work with your own buyer's agent. The numbers on this page are simply what our financing would look like on this property. Viewing them is not a commitment to borrow from us, and you are free to finance the purchase however you choose. We do not represent buyers or sellers.

Request the Term Sheet Call (323) 304-4978

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