Connecticut Hard Money Deal - Close

730

4 deals

Yes

Brooklyn

Connecticut

$76,000

$424,000

Borrower wants to forgo appraisal based on the value if possible. The ltv is so low- He wants to close next week and pull all closing costs out of proceeds
.EXIT is sell property or refinance for conversion see attachments
Property is 76000 payoff
credit score 730

3 buildings
1. 650 sq ft house 1 bedroom need rehab
2 26000 sq ft building
3 20000 sq ft building
4. 23.5 acres
Please see the evaluation below.
A 26,000 sq ft two-story shell building

A 20,000 sq ft shell building

A 650 sq ft 1-bedroom house needing rehab

23.5 acres of land

🧮 Updated As-Is Valuation
1. Shell Buildings
26,000 sq ft × $30–$50/sq ft = $780,000 – $1.3M

20,000 sq ft × $30–$50/sq ft = $600,000 – $1M

Combined Building Value: $1.38M – $2.3M

2. Land (23.5 acres)
Rural land in Brooklyn, CT typically trades at $10K–$25K/acre, depending on zoning, access, and development potential

Land Value Estimate: $235,000 – $587,500

3. 650 sq ft Rehab House
In its current condition, likely valued at $40K–$75K, depending on structural integrity and utility access

💰 Total As-Is Value Range
Component Estimated Value Range
Shell Buildings $1.38M – $2.3M
Land (23.5 acres) $235K – $587K
Rehab House $40K – $75K
Total As-Is Value $1.655M – $2.962M
This expanded parcel offers serious upside—especially if subdividing is in progress and zoning supports mixed-use or storage conversion.