Listing photoTampa, FL 33618 · MLS TB8536118
"INVESTOR SPECIAL: Bring your vision to this spacious home in the highly desirable Lake Heather Oaks community."
16507 Cranwood Pl is a 4-bedroom, 2.5-bath home in Tampa, Florida listed at $475,000 with 2,212 square feet, built in 1986. 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 ($47,500), we fund the $99,540 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 Florida or our Florida hard money lending page.
From the listing. INVESTOR SPECIAL: Bring your vision to this spacious home in the highly desirable Lake Heather Oaks community. Situated on a generous corner lot on a quiet cul-de-sac street, this property offers tremendous potential for renovation, resale, or long-term investment. This property has deferred maintenance and a 20-year-old roof. Due to its condition, the home is being marketed CASH ONLY and is being sold AS IS. The home features a screen-enclosed pool in good condition and lanai, new luxury vinyl plank flooring downstairs, a kitchen with granite countertops, updated bathrooms, and a custom-built closet system in the primary suite.
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 | $47,500 (10%) | |
| Loan at closing | $427,500 | |
| Cosmetic renovation, rough estimate* | We fund $99,540 | |
| Total loan | $527,040 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($7,906) | |
| Appraisal | Required | |
| Estimated monthly interest | $4,282 at full draw | |
| Cash to close, rough estimate | $59,796 | |
Rough estimates at the list price of $475,000 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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