Lorna Ln
St Louis, MO 63136

1203 sq. ft., 3 bedroom / 1 bathroom

Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136
Lorna Ln</br> St Louis, MO 63136

Property Information

Current Status Occupied
Lease Start Date 08/15/2023
Lease End Date 08/14/2024
Utilities Paid by Tenant
Initial Investment* $28,920

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

Purchase Price $120,000

Current Rent $1,195
Cap Rate 10%
Cash on Cash Return* 39%
Net Cash Flow Per Month* $361

*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

Renovations include: Updated bathroom (new LVP in bathroom; new vanity, new vanity light, new faucet and drain line, new toilet, repair window); 3 new ceiling lights; 3 new GFCIs; Beautiful updated kitchen (paint cupboards and install new hardware, refinish counter, new SS appliances); complete interior prep and paint, check and clean furnace and install new filter, 12 new window blinds, new smoke and CO2 alarms, replace 8 interior door knobs and adjust doors, repair all windows for smooth operation, exterior yard clean up. Prep and paint exterior; clean gutters and replace missing gutter covers; clean, repair & seal driveway; install 3 exterior locks.

This pretty 3-bedroom, 1-bathroom home offers a comfortable and inviting living space in a peaceful neighborhood. As you step inside, you’ll notice the spacious living room and master bedroom with 2 closets. Continue to the right and you’ll see the 2 additional bedrooms that each offer ample space for all your bedroom furniture. The kitchen is equipped with sleek stainless steel appliances, adding a touch of modernity to your cooking experience. Plenty of cabinets and countertops for cooking! In rear you will find a separate laundry room and enclosed 3 seasons room. The backyard features a large shed for extra storage. With its convenient location and desirable features, this house is perfect for renters seeking a comfortable place to call home for the long term.

This property comes with a 2yr ACHOSA home warranty.

Being marketed for RealtyPHD.

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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