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LOAN SUMMARY | 2121 2ND STREET NORTHWEST 2121 2nd Street Northwest, Washington, DC 20001

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BORROWER


Rate
Projected Term
Loan to Value Range
Loan Amount
Investors
13.4%
12 months
62.7%
$470,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Acquisition & Renovation
First Lien
$470,000
Repaid on 12/06/2016
Started on
Funded on
Repaid on
Matures on
03/09/2016
03/31/2016
12/06/2016
04/07/2017

LOAN UPDATES

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GROUNDFLOOR - 10/17/2016

There is no further update to the status of this property.

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GROUNDFLOOR - 9/22/2016

The borrower has advised that he has reduced the listing price for the property to promote interest in the sale.

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GROUNDFLOOR - 8/22/2016

The borrower has confirmed that the property is listed for sale and the borrower is awaiting offers.

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GROUNDFLOOR - 6/22/2016

The renovation is complete and the Borrower plans to get the tenants moved back in and refinance the property. 

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GROUNDFLOOR - 6/7/2016

The project is progressing efficiently. All new fixtures have been installed in the bathrooms, the installation of hard wood flooring is 90% complete throughout the property, new closets and light fixtures have been installed in 2 bedrooms, a brand new washer/dryer unit and a new dish washer have been installed, and drywall, plastering, and sanding of all rooms and living area is complete.

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GROUNDFLOOR - 5/2/2016

Progress is ongoing. Renovation works are approximately 30% complete. 

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GROUNDFLOOR - 4/11/2016

This loan was fully funded on 3/31/2016 by 368 investors. 

FINANCIAL OVERVIEW

After Repair Value (ARV)
$750,000
Total Project Costs
$720,000
$30,000
GROUNDFLOOR
$470,000
$250,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$670,000
Purchase Date
TBD
Loan To ARV
62.7%
Loan To Total Project Cost
65.3%

GRADE FACTORS

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
4
10
Quality of Valuation Report
3
4
Skin-in-the-Game
6
10
Location
4
8
Borrower Experience
3
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$750,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

THE COMPANY PLAYED NO ROLE IN THE PREPARATION OF ANY OF THE VALUATION SOURCES OR ANY OTHER MATERIALS PROVIDED BY THE BORROWER. WHILE WE BELIEVE THE DATA CONTAINED THEREIN IS HELPFUL, WE DO NOT USE IT AS THE SOLE BASIS FOR A FUNDING DECISION.