Transaction Details

Fix/Flip LOC Draw, NJ


Fix/Flip LOC Draw | 2026 Birch Street, Scotch Plains, NJ 07076
Recently Funded

Benchmark Property Group, LLC


Property Type: Single Family

Development Phase:

Full Renovation

Rate
9.49%
Loan to cost
90%
Loan to ARV
55.37%
Total Loan Amount
$487,285.00
Initial loan amount
$297,000.00
Rehab/Const Loan amount
$200,300.00
Transaction type
Purchase and Rehabilitation
Loan program
Fix/Flip LIne of Credit
Doc Type
Debt Coverage Ratio
Amortization
Interest Only
Investment Summary
House is currently a cape cod style that we will be demolished the existing dwelling down to the 1st floor deck. Hew building will be gutted reframed, new timberline roof, vinyl siding, new exterior doors, windows. All the MEP systems will be removed and replaced Including, replace sewer main and water main from street, all plumbing and fixtures will be new throughout the house including all OWV piping, Water and Gas. Electrical will 11et a new 200 Amp service, all new wiring, high hats throughout, all new devices, hardwired smoke detectors. All HVAC will be replaced with two zones and new throu&hout the home includina ductwork, central air, and forced hot afr heat, all equipment to be high efficiency units. All finishes will be new also includfn11 hardwood floors throughout the home except for areas that may get wet they will be tiled. New kitchen with new cabinets and quartz countertops. New drywall throughout with tape and spackle. New tile, full custom trim packaae including built in closet systems, custom locker in the mudroom. Also existing to be demolished and rebuilt due to compromised foundation, also there will be a new addition added out the bad< to square off the structure. We have received an existing survey and none of these renovations should be an issue and not need a variance.
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