Shovel-ready duplex build in growing southwest Cape Coral targeting long-term rental investors.
LOAN AMOUNT
$580,000
Builder sought to hold the property upon completion rather than sell on market.
Provided a seamless Construction-to-DSCR facility: $580,000 construction loan that rolled automatically into a 30-year DSCR mortgage.
The Outcome
Eliminated dual closing costs and gave builder permanent 30-year fixed rental financing at Certificate of Occupancy.
Deal Highlights
LOAN AMOUNT
$580,000
TOTAL BUILD COST
$750,000
LEVERAGE
77% LTC
COMPLETED VALUE
$920,000
PROJECTED RENT
$5,800/mo
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