1785 Melrose Dr SW
Atlanta, GA 30310 · Closing September 30, 2026
1st Position note
$270,000
Note amount
$270,000
Interest rate
10.99%
Term
12 months
Note-to-ARV
51.92%
Note overview
WholeSale Lending is offering a first-position real estate note secured by a residential property in Atlanta's 30310 market.
Note & project snapshot
- Purchase price
- $300,000
- 1st position note
- $270,000
- Interest rate
- 10.99%
- Term
- 12 months
- Construction estimate
- $105,000
- Total purchase + construction
- $405,000
- Estimated after-repair value
- $520,000
- Note-to-ARV
- 51.92%
- Closing date
- September 30, 2026
Project capitalization
- Acquisition
- $300,000
- Construction
- $105,000
- Total project cost
- $405,000
- Estimated ARV
- $520,000
- Estimated ARV above acquisition + construction
- $115,000
Asset-based underwriting
This loan is underwritten using an asset-based lending model, with the underlying real estate serving as the primary collateral.
- No Credit Pull
- First-Position Security
- 10.99% Interest Rate
- 12-Month Term
- First 6 Months of Scheduled Payments Collected at Closing & Held in Escrow
Experienced buyer
The buyer has successfully completed three real estate projects within the past 24 months.
ARV support
Recent sales supporting the project's post-renovation valuation include:
Location
Atlanta, GA 30310
Open in MapsFor investment evaluation purposes only. ARV is an estimated post-renovation value and is not a guarantee of future value or sale price. Prospective purchasers should independently verify property value, comparable sales, square footage, title, lien position, construction estimates, loan documents, escrow arrangements, borrower information and all other due-diligence materials.