Take A Look At This Property in Davenport, FL!

Experienced borrower looking to purchase the subject property located in Davenport, FL and hold it for long-term rental income. Subject is a single-family rental, currently vacant but with the appraiser’s estimate of market rent at $2,470/month. The property was appraised for $364k as-is, and a CDA confirmed the value was acceptable. Two sponsors on the loan have decent credit and bank statements reflect sufficient liquidity to meet the reserve requirement for this project. Loan structured and priced in accordance with the LTR model. Total loan amount 73.40% LTV 80.00% LTC with 1.00 DSCR.