A $957,900 fix-and-flip on Long Island — the kind of high-basis suburban renovation that needs a lender who will underwrite the after-repair number rather than flinch at the entry price. Nassau County inventory is tight, and renovated single-family product in East Meadow clears to a deep, school-driven buyer pool.
The file moved on a real appraisal, not a broker opinion: a lender-ordered appraisal set as-is value at $790,000 and after-repair value at $1,290,000 on 2,160 square feet. That $500K spread is what the loan was sized against, with rehab funded through inspected draws so capital released as the work got done. Figures reflect this transaction; every deal varies.
