Loan amount
$498,000
Loan type
Purchase {Fix&Rent}
After Repair Value
$750,000 {PP:$398,000}
ARV
66% {ARV}
Property type
Other Commercial
Borrower Details
Credit score
667
Deal experience
10 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Arkadelphia
State
Arkansas
Loan Details
Purchase price
$398,000
Down payment
$0
Cost of improvements
$100,000
Estimated property value after repairs
$750,000
Additional Loan Information
This is a mixed use property consisting of 2 retail/office spaces one rents as a tire/repair/fishbait shop the other is in need of ti and new tenant formally rented to a church, the two other properties are a sfr that is in need of conversion to a triplex of 9/6 bed/bath (currently a 6/3 bed/bath with three stories one of which is not being used, and the last portion of the property is a 5 unit consisting of all 2/1.75 bed/baths in need of flooring counter wall (wood panel removal) paint updates and rental increases by 200$. the property is under utilized and under valued rent roll currently shows 5000 a month in rents and could be making 10-12k a month after improvements.
Status
Created
May 22, 2021 - 7:22pm

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