Fix & Flip Loan for SFR in Houston, Pennsylvania

Funded by RCN Capital


Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date


Property Type
Single Family Residence
Property City


Property State


Loan Term (months)


Payment Type

Interest Only

Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase


Renovation Budget


Renovation Budget Funded


Borrower's Contribution to Budget


After-Repair Value


Renovation Project Scope

Light Rehab

Location Type


Property Condition


Number of Units


Building Square Footage


Borrower's Plan

Rehab and Sell

Exit Strategy


Interest Rate


Origination Points


Deal Highlights

Strong repeat Borrower looking to purchase, rehab, and sell the subject property.
Property was purchased for 175k, Borrower looking to put 72k worth of renovation for ARV of 310k.
Borrower should make a solid 23% return after sale on the back end.
Borrower has good FICO and experience.

Deal Summary

RCN Capital, a national direct private lender, funded a $217,000 1st lien position fix and flip loan for a single-family home in Houston, Pennsylvania, a suburb of Pittsburgh. We funded 100% of the $71,800 renovation budget and 62% of the $175,000 purchase price, while the Borrower contributed 38% cash to the purchase at closing. The subject property was appraised for $235,000 As-Is and a $310,000 after-repair-value evidenced decent returns to the Borrower of just under 22% and 11% of debt yield. The total loan amount was 70% of the after-repair value. This repeat Borrower was an experienced investor (5+ Verified). Their bank statements reflected sufficient liquidity to meet the reserves required for this loan and the deal was structured in accordance with the guidelines. The subject property was approximately 2,781 square feet. The Borrower plans to sell the property upon completion of the light rehab. The interest rate was 10.49% and we charged 2% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in August 2023. 

Funded By

RCN Capital

Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans


Michael Vivenzio

Loan Officer

Michael Vivenzio, Loan Officer, joined the RCN Capital team in the summer of 2020. Michael strives to develop meaningful long-lasting relationships with brokers and borrowers to help them achieve their financial goals. Michael comes into this position with a passion for real estate born from experience with his family-run Real Estate investment business over the past 5 years. Michael is from Massachusetts and earned a Bachelor’s Degree from Merrimack College in 2018.