Listing photoRensselaer, NY 12144 · MLS 202613318
"Property will not qualify for traditional financing and is best suited for cash buyers or rehab loans."
1498 2nd St is a 4-bedroom, 1-bath home in Rensselaer, New York listed at $84,900 with 1,166 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 25% down ($21,225), we fund the $52,470 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. Fix and Save opportunity on a corner lot in Rensselaer. 1498 Second Street offers 4 bedrooms, 1 full bath, and 1,166 SF ready for updates. Layout features a formal dining room, first floor office, and a small deck overlooking the yard. Public water and sewer. Property will not qualify for traditional financing and is best suited for cash buyers or rehab loans. Ideal for investors, flippers, or buyers looking to restore and add value. Property 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: 25% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $21,225 (25%) | |
| Loan at closing | $63,675 | |
| Cosmetic renovation, rough estimate* | We fund $52,470 | |
| Total loan | $116,145 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($1,742) | |
| Appraisal | Required | |
| Estimated monthly interest | $944 at full draw | |
| Cash to close, rough estimate | $27,357 | |
Rough estimates at the list price of $84,900 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.
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Cash or hard money only"CASH ONLY."
Cash or hard money only""CASH ONLY" due to the original 1928 bylaws."
Cash or hard money only"CASH ONLY!"
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