C

LOAN SUMMARY | 401 Ketcham Street, Indianapolis, IN 46222

BORROWER

PS Indy 36, LP
Gavin Litke - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
10%
12 months
73.3%
$87,990
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$87,990
Repaid on 07/12/2022
Started on
Funded on
Repaid on
Matured on
03/12/2021
05/07/2021
07/12/2022
03/11/2022

FINANCIAL OVERVIEW

After Repair Value (ARV)
$120,000
Total Project Costs
$96,279
$23,721
GROUNDFLOOR
$87,990
$8,289
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$65,330
Purchase Date
03/12/2021
Loan To ARV
73.3%
Loan To Total Project Cost
91.4%

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
1
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$120,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

401 KETCHAM STREET, INDIANAPOLIS, IN 46222
The Borrower intends to use the loan proceeds to purchase and renovate the property. Upon completion, the Borrower intends to sell the property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to purchase this property on March 12, 2021 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 renovation of the property may be extensive, and therefore subject to delays and other unexpected issues.
  • The renovation will require permitting, and permits may not be obtained on time or may be denied.
  • 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.
  • This is a collateral loan secured by eighteen properties, 4301 East 21st Street, Indianapolis, IN 46218, 3841 East 11th Street, Indianapolis, IN 46201, 401 Ketcham Street, Indianapolis, IN 46222, 2605 East 13th Street, Indianapolis, IN, 46201, 4811 North Kenyon Drive, Indianapolis, IN, 46226, 606 Good Avenue, Indianapolis, IN, 46219, 621 North Grant Avenue, Indianapolis, IN, 46201, 6710 Brookhaven Drive, Indianapolis, IN, 46226, 122 North Kealing Avenue, Indianapolis, IN, 46201, 1443 North Elder Avenue, Indianapolis, IN 46222, 1702 North Euclid Avenue, Indianapolis, IN, 46218, 1432 Edgemont Avenue, Indianapolis, IN, 46208, 638 West 29th Street, Indianapolis, IN, 46208, 805 North Goodlet Avenue, Indianapolis, IN, 46222, 545 Dayton Avenue, Indianapolis, IN, 46203, 4606 North Hartman Drive, Indianapolis, IN, 46226, 3021 Boulevard Place, Indianapolis, IN, 46208, 3023 Boulevard Place, Indianapolis, IN, 46208.
  • Please consult the Offering Circular