B

LOAN SUMMARY | 1013 Lynn St SW, Vienna, VA 22180

BORROWER

1013 Lynn LLC
Louis Peyton - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
10%
15 months
68.5%
$217,050
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase
First Lien
$217,050
Repaid on 11/21/2023
Started on
Funded on
Repaid on
Matured on
04/28/2023
11/20/2023
11/21/2023
07/27/2024

FINANCIAL OVERVIEW

After Repair Value (ARV)
$950,000
Total Project Costs
$921,150
$28,850
GROUNDFLOOR
$651,150
$270,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$900,000
Purchase Date
04/28/2023
Loan To ARV
68.5%
Loan To Total Project Cost
70.7%

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
4
4
Skin-in-the-Game
5
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$950,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

1013 LYNN ST SW, VIENNA, VA 22180
The Borrower intends to use the loan proceeds to purchase the property. After, the Borrower intends to sell the property to repay the Groundfloor loan, or refinance it.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to purchase this property on April 28, 2023 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower is now in possession of the property. If this offering is fully subscribed, Groundfloor will continue to administer and service the loan as further described in the Offering Circular.
  • The Borrower intends to use the loan proceeds to purchase the property. The property is being used as collateral for a loan. No substantial work is being done on the property, and the majority of the collateral is represented by the property's After Repair Value, which is an indication of the current market value in as is condition. The Borrower will repay the Groundfloor loan by selling the property or refinancing it.
  • This LRO represents the second draw for the loan and is secured by an individual note.
  • There will be three LROs on this project, each representing subsequent draws. The first series of LROs will be for $217,050, the second series of LROs will be for $217,050, and the third series of LROs will be for $217,050. The Financial Overview box represents the aggregate amount of all LROs to be secured by this property, giving a complete financial picture of the project.
  • The event of default on one Groundfloor note secured by this property will trigger default on all Groundfloor notes secured by this property. All LRO holders investing in LROs corresponding to notes secured by this property share the same priority in any recovery and recovered proceeds will be distributed on a pro-rata basis.
  • The Borrower has not completed or sold any projects in the past year. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular