1331 Norchester Dr
St Louis, MO 63137

Property Information

Current Status Occupied
Lease Start Date 05/01/2022
Lease End Date N/A
Utilities Paid by Tenant
Initial Investment* $24,424

*Includes down payment plus $3,000 of closing costs

Purchase Price $103,000

Current Rent $1,000
Cap Rate 7%
Cash on Cash Return* 22%
Net Cash Flow Per Month* $194

*Assuming 20% down with a loan at 5% interest for 30 years. Including 3% appreciation per year.

Renovations Completed

New kitchen appliances, finished kitchen cabinets, new & grout to bathtub where needed, new faucet trim to shower, new white silicon caulk in bathroom, new light fixture & mirror over vanity, repaired bathroom door, new transition flooring at kitchen doorways & bathroom, new door locksets & hardware, new vinyl blinds throughout, removed sink & lowered shelf from basement bar, new dryer vent in basement to outside, new hose bibs for washer, new venting for basement bathroom exhaust, cleaned & serviced & repaired HVAC, new thermostat, new hot water tank, updated plumbing, new gas line, cleaned sewer, new electric panel, repaired & updated electrical throughout, new LED light fixtures throughout, new smoke & CO detectors, repaired house roof, cleaned & repaired gutters, repaired sidewalk & driveway cracks, repaired exterior fence, landscaping, interior & exterior paint.

Financing Options

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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Investment Terms

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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