C

LOAN SUMMARY | 2626 South Rybolt Avenue, Indianapolis, IN 46241

BORROWER

PS Indy 18, LP
Gavin Litke - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
10%
12 months
70.2%
$59,680
1
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$59,680
Repaid on 06/26/2025
Started on
Funded on
Repaid on
Matured on
04/16/2021
06/02/2021
06/26/2025
04/15/2022

FINANCIAL OVERVIEW

After Repair Value (ARV)
$85,000
Total Project Costs
$69,180
$15,820
GROUNDFLOOR
$59,680
$9,500
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$40,000
Purchase Date
04/16/2021
Loan To ARV
70.2%
Loan To Total Project Cost
86.3%

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
4
4
Skin-in-the-Game
2
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$85,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

2626 SOUTH RYBOLT AVENUE, INDIANAPOLIS, IN 46241
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 April 16, 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, 4934 Mecca Street, Indianapolis, IN 46241, 4942 Mecca Street, Indianapolis, IN 46241, 2515 Lockburn Street, Indianapolis, IN 46241, 2649 Foltz Street, Indianapolis, IN 46241, 3327 Foltz Street, Indianapolis, IN 46221, 2857 Collier Street, Indianapolis, IN 46241, 541 South Rybolt Avenue, Indianapolis, IN 46241, 2625 South Rybolt Avenue, Indianapolis, IN 46241, 2626 South Rybolt Avenue, Indianapolis, IN 46241, 3242 South Rybolt Avenue, Indianapolis, IN 46221, 3318 South Rybolt Avenue, Indianapolis, IN 46221, 3321 South Rybolt Avenue, Indianapolis, IN 46221, 3336 South Rybolt Avenue, Indianapolis, IN 46221, 2901 South Taft Avenue, Indianapolis, IN 46241, 2655 South Lyons Avenue, Indianapolis, IN 46241, 3331 South Lyons Avenue, Indianapolis, IN 46221, 3343 South Lyons Avenue, Indianapolis, IN 46221, 2818 McClure Street, Indianapolis, IN 46241.
  • Please consult the Offering Circular