Iowa Ave
St Louis, MO 63118

2066 sq. ft., 2 bedroom / 2 bathroom
Duplex

Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118
Iowa Ave</br> St Louis, MO 63118

Property Information

Current Status Occupied
Lease Start Date 04/01/2023
Lease End Date 03/31/2025
Utilities Lawn/Water/Sewer paid by Owner
Initial Investment* $39,720

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

Purchase Price $170,000

Current Rent $1,649
Cap Rate 8%
Cash on Cash Return* 31%
Net Cash Flow Per Month* $233

*Assuming 20% down with a loan at 2PTS + 7.25% interest for 30 years. Including equity build up and 3% appreciation per year.

About This Property

Rare Duplex! Both units are occupied!
Extensive renovations completed recently including:

1st Unit: Updated kitchen: New countertops, new light fixture, updated cabinet facings, new cabinet hardware, new bridge cabinet, new microwave, stove and refrigerator, new hood.
Updated bathroom: new light fixture, new paint on vanity, reglazed tub,
Living areas: new flooring throughout, new front living room window, new living room light fixture, new thermostat, new water lines to boiler, new window HVAC unit, new blinds, new smoke and CO2 detectors.

2nd Unit: Updated kitchen: New kitchen light fixture, repaired and painted cabinets, new bridge cabinet, new refrigerator, new stove, new microwave and hood,
Updated bathroom: new bathroom light fixture, reglazed tub, new paint on vanity,
Living Area: new window AC unit, new luxury vinyl plank flooring throughout. New blinds, new smoke and CO2 detectors.

Common Areas: new dryer vents, cabled and camera plumbing lines, cleaned HVAC system, new gas shut off valve, 2 new water heaters, new door knobs throughout, new locking system, chimney repaired, new paint on basement windows, reglazed basement window, repaired double deck, repaired and painted front doors, new waste stack, painted front entryway, new gutters above deck. New interior paint throughout.

Total rental income is $1649/mo.

Submit your full price offer and we will match appraised values if less. Renovated and Occupied Duplexes are in high demand and rare to find. Take this opportunity to own it!

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

Click here to learn more about buying rental properties from MartelTurnkey. If you have any further questions, schedule a call with an advisor