Upper-Level Rooftop Deck Buildout & Main-Floor Structural Wall Removal Fix & Flip

The Investor Scenario & Opportunity

An experienced real estate developer secured an off-market wholesaler assignment for a two-story traditional brick rowhouse in the Canton neighborhood of East Baltimore. Located near O'Donnell Square and the Boston Street waterfront corridor, Canton remains one of the highest-demand residential sub-markets in the city, attracting corporate professionals, healthcare workers, and expanding households.

The transaction carried a tight deadline. The wholesaler contract required a binding closing within six business days to satisfy the primary seller, an out-of-state owner liquidating non-core assets. The investor negotiated an assignment price of $210,000 in as-is condition. Fully renovated rowhouses on surrounding blocks featuring open main floor layouts and private upper-level rooftop decks were selling consistently near $460,000.

The Strategy & Capital Requirement

The primary challenge was settlement speed combined with active capital preservation. The binding wholesaler contract dictated a six business day settlement window, meaning any delay in debt financing would result in contract default and forfeiture of earnest capital.

Simultaneously, the investor had capital committed across two active full-gut rowhouse renovations in nearby Fells Point and Patterson Park. To preserve working capital reserves for trade contractor payroll and upcoming material deposits on active job sites, the borrower required a direct loan facility covering 90% of the purchase price and 100% of the construction scope.

The Henry Solution (Loan Mechanics & Underwriting)

Hard Money Henry underwrote the loan based on direct real estate equity and local sub-market sales comparables. Our internal underwriting team evaluated recent Canton rowhouse transactions within 24 hours, completely eliminating third-party appraisal delays.

We issued a firm commitment letter and structured a $296,723 total loan facility, financing 90% of the purchase price ($189,000) and 100% of the construction budget ($107,723). Construction capital was held in escrow and released across four structured draw disbursements as work milestones were inspected and verified. The transaction funded and closed in five business days.

The Financial Win & Outcome

The developer executed a 75-day comprehensive renovation program. The primary value-add strategy focused on constructing a rooftop deck with harbor views and removing main-floor load-bearing walls. The investor allocated $42,000 of the $107,723 budget to frame a roof pilot house, install structural support steel, and build a composite rooftop deck with safety railings. Another $35,000 was dedicated to installing steel support beams to open the main living and dining area into an open layout centered around a gourmet kitchen island.

The remaining $30,723 funded custom kitchen cabinetry, quartz countertops, modern bathroom finishes, refinished hardwood floors, and fresh interior paint. Adding rooftop outdoor living space generated competing offers within three days of listing.

• Purchase Price: $210,000
• Rehab Budget: $107,723 (Rooftop deck buildout, structural steel wall removal, interior finishes)
• Financing & Holding Costs: $18,000
• Selling Costs (6%): $27,600
• Total Cost Basis & Expenses: $363,323
• Final Sale Price: $460,000
• Net Profit: $96,677

Key Takeaways for Local Investors

• Rooftop decks command premium resale prices. Adding outdoor skyline living space maximizes buyer demand and appraisal value in high-density urban sub-markets.
• Wholesaler assignments require guaranteed closing speed. Partnering with a direct balance-sheet lender who guarantees settlement in five business days secures high-margin contract assignments.
• 100% construction debt maintains working capital. Structuring loans to fund complete renovation draws keeps investor cash flow liquid across concurrent development projects.

Planning a single-family fix and flip or rowhouse renovation in Baltimore or Maryland? Submit your property address at hardmoneyhenry.com/apply for a 24-hour commitment letter.