$ 374,000

Loan Strategy:
Refinance

Location:
2 Westwood Ave, Ellenville, NY 12428, USA

10% 65% 12 mo
Rate LTV Term

Summary

  • About this property: The borrower purchased a single family house located at 2 Westwood Avenue, Ellenville, NY which has a current appraised market value of approximately $175,000.00, a two family house located at 5 Westwood Avenue, Ellenville, NY which has a current appraised market value of approximately $200,000.00, an eight unit apartment building located at 7 North Main Street, Ellenville, NY which has a current appraised market value of approximately $275,000.00, a single family house located at 13 Westwood Avenue, Ellenville, NY which has a current appraised market value of approximately $165,000.00 and a single family house located at 37 Chapel Street, Ellenville, NY which has a current appraised market value of approximately $145,000.00. Each property is fully renovated and rented. The combined appraised market value of the five properties is $960,000.00. York Funding will lend the borrower $624,000.00 . The borrower will sell or refinance the properties to repay the loan.

Rate Detail

  • York Mortgage Rate: 9.5%
  • Management Fee: 1.5%
  • Net Investor Rate: 8.0%

Investment Overview

  • Originator: York Funding LLC
  • Lien Type: First Mortgage
  • Origination Date: 10/16/19
  • Maturity Date: 10/16/20

Investment Purpose & Strategy

  • Loan Purpose: Refinance
  • Loan Strategy: Refinance
  • Property Purchase Price: $ 624,000
  • Borrowers Cash Into Deal: Blanket loan for five properties

LTV Details

  • Market Value: $ 960,000
  • Loan to Value: 65%

View on map / Neighborhood

  • Additional properties: 5 Westwood Avenue, Ellenville, NY 12428 7 North Main Street, Ellenville, NY 12428 13 Westwood Avenue, Ellenville, NY 12428 37 Chapel Street, Ellenville, NY 12428

Description

Invest Now!

2020-10-14T17:02:55-04:00