DSCR Rental
Posted 22d agoDSCR rental refinance, triplex in Brooklyn
$310,000
Location
Brooklyn, NY 11201
Target rate
12.03%
Term
6 mo
Property type
Triplex
Property & underwriting
- Occupancy
- Non-owner occupied
- Units
- 4
- Lien position
- First lien
- As-is value
- $480,000
- LTV (as-is)
- 64.6%
- Purchase price
- $460,000
- After-repair value
- $632,000
- Loan-to-ARV
- 49.1%
- Rehab budget
- $51,000
- Existing liens
- $93,000
- Exit strategy
- Lease-up then refinance
- Borrower experience
- First-time investor
- Credit score range
- 750-799
- Borrowing entity
- Limited Partnership
- Funding timeline
- ASAP (7-10 days)
- Additional collateral
- Triplex at Brooklyn, NY
Use of funds
Purchase
Deal summary
Acquisition + rehab on a triplex in Brooklyn, NY. Borrower is seeking $310,000 at up to 12.03% for 6 months. Refinance into 30-yr DSCR.