10506 Spring Garden Dr Saint Louis, MO 63137
Property Information
Current Status | Occupied |
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Lease Start Date | 08/11/2023 |
Lease End Date | 08/10/2024 |
Utilities | Paid by Tenant |
Initial Investment* | $26,328 |
*Includes down payment plus $3,000 of closing costs
Purchase Price $108,000
Current Rent | $1,100 |
Cap Rate | 9% |
Cash on Cash Return* | 34% |
Net Cash Flow Per Month* | $236 |
*Assuming 20% down with a loan at 2PTSÂ + 7.25% interest for 30 years. Including equity build up and 3% appreciation per year.
- About This Property
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Renovations include:
Exterior
• New locks and door knobs on exterior doors (Kwikset Smart Key)
• Repaired siding at back of house
• Install new fencing/top rail at right side of house and top rail at left side of house
• Clean overgrowth from fence line
• Paint back of house to match existing paint
• Prep and paint fascia around exterior of home
• Repair window trim at rear bedroom window
• Secure and seal flashing around chimney
• Cleaned guttersInterior General
• Repaired walls and ceilings, as needed
• Full patch and paint of all walls and trim, throughout home
• Installed new door, hinges, and knob for basement/kitchen door
• Installed new set of sliding closet doors with hardware for front bedroom
• Reglazed bathroom tub
• Added Fire stop all plumbing penetrations including bathrooms and kitchen
• Repair window trim at rear bedroom window and seal exterior doors/windows, as needed
• Installed 10-year battery smoke/CO detectors throughout, as required by codeBasement –
• Prep/painted floor and steps to the basement
• Painted all walls and foundation
• Secured AC line set to ceiling
• Made repairs to water heater to pass inspection and installed new water lines for laundry (includes permit)
• Secured loose GFCI at laundry
• Cleaned and serviced furnace and installed new filter
• Set cable sewer lateralA/C condenser: New
HWT: 8 years oldThis property is being marketed for Jigsaw Properties, LLC
- Financing Options
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MartelTurnkey has partnered with some of the top lenders that provide a wide range of financial solutions to meet your Rental investing needs. Talk to an Advisor to learn more or visit our partner to get pre-approved.
- Property Management Company
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Click here to learn more about the property management in our markets. If you have any further questions please schedule a call with an advisor
- Investment Terms
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Purchase and Sale Agreement (PSA): A PSA will be delivered electronically once an agreement has been made and must be executed by Buyer within 24 hours of receipt.
Earnest Money Deposit (EMD) of $1,000 must be wired to the Title Company within 3 days of PSA signing.
Appraisal Contingency is available for financed properties, and will be waived automatically if the property appraises for the sale price. If it does not appraise for the sale price, then the Buyer and Seller will have the opportunity to come to terms or the Buyer can cancel the contract.
Closing Date: The Closing Date will occur within 15 days of PSA execution for cash transactions and 45 days of PSA execution for financing unless otherwise agreed by Buyer and Seller.
Lease Agreement: The current lease agreement will be provided to Buyer at Closing.
Closing Costs: Closing costs shall be paid based on local custom, and will include discounts negotiated by Martel TurnKey to lower transaction costs for Buyers and Sellers. Actual closing costs will be outlined on the final settlement statement. - Buying Process
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