Fix & Flip Rooftop Deck Addition & Full Structural Renovation

The Investor Scenario & Opportunity

A seasoned development team identified an off-market historic rowhouse in the Federal Hill neighborhood of South Baltimore. Located within walking distance of Riverside Park and the Inner Harbor, Federal Hill remains one of the premier urban residential markets in Baltimore, attracting medical professionals, tech employees, and corporate executives.

The acquisition resulted from a corporate partnership dissolution. The previous owners required a rapid, non-contingent cash settlement within six business days to divide business assets cleanly and dissolve their joint entity. The investor negotiated an off-market acquisition price of $230,000. Premium renovated rowhouses in Federal Hill featuring skyline views and private rooftop entertainment spaces were trading consistently near $465,000.

The Strategy & Capital Requirement

The primary challenge was funding speed combined with portfolio capital allocation. The binding partnership dissolution agreement required settlement within six business days, with failure to close resulting in the asset being placed on the open market through a court-appointed receiver.

Additionally, the borrower had capital active in a full-gut renovation project in Fells Point. To maintain adequate cash flow for trade subcontractors and ongoing operations, the investor required a direct capital partner capable of closing in five business days while financing 90% of the purchase price and 100% of the renovation construction budget.

The Henry Solution (Loan Mechanics & Underwriting)

Hard Money Henry underwrote the loan through direct balance-sheet evaluation, analyzing recent Federal Hill sales data and local asset equity. Our internal team evaluated the property within 24 hours, completely eliminating the delay of third-party appraisals.

We issued a firm commitment letter and structured a $302,000 total loan facility, covering 90% of the purchase price ($207,000) and 100% of the renovation scope ($95,000). Construction capital was placed in escrow and released across four milestone draw inspections as construction progressed. The transaction funded and closed in five business days.

The Financial Win & Outcome

The developer executed a 90-day complete structural and interior transformation. The signature value-add feature was the addition of a custom rooftop deck with skyline views. The investor allocated $32,000 of the $95,000 budget to install structural steel support beams, construct a pilot house, and build a composite rooftop deck overlooking the harbor.

The remaining $63,000 funded a open-concept main level, modern chef kitchen with quartz waterfalls, luxury primary suite, and full interior mechanical upgrades. Delivering a rooftop deck in Federal Hill generated multiple competing offers, resulting in a contract above asking price within four days of market release.

• Purchase Price: $230,000
• Rehab Budget: $95,000 (Rooftop deck buildout, structural steel framing, full interior renovation)
• Financing & Holding Costs: $18,500
• Selling Costs (6%): $27,900
• Total Cost Basis & Expenses: $371,400
• Final Sale Price: $465,000
• Net Profit: $93,600

Key Takeaways for Local Investors

• Outdoor amenity space drives top-tier pricing. Building rooftop decks in dense historic corridors like Federal Hill unlocks maximum post-renovation value and accelerates buyer competition.
• Partnership dissolutions require guaranteed closing speed. Partnering with a direct balance-sheet lender who guarantees settlement in five business days secures high-margin off-market deals.
• 100% construction financing protects active operations. Structuring loan facilities to cover total renovation draws allows active developers to execute large-scale projects without draining working capital.

Planning a luxury fix and flip or rooftop deck addition in Baltimore or Maryland? Submit your property address at hardmoneyhenry.com/apply for a 24-hour commitment letter.