Michigan Ave
St Louis, MO 63118

1554 sq. ft., 3 bedroom / 2 bathroom

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

Property Information

Current Status Occupied
Lease Start Date 10/10/2023
Lease End Date 10/09/2024
Utilities Paid by Tenant
Initial Investment* $38,640

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

Purchase Price $165,000

Current Rent $1,295
Cap Rate 7%
Cash on Cash Return* 28%
Net Cash Flow Per Month* $121

*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: Brand new roof, newer kitchen, new appliances, new faucets in both bathrooms, repaired sub-flooring in rear bedroom, new vinyl plank flooring, repaired bamboo flooring on second floor, repaired exterior door frame, new door locks & knobs, repaired seals on 4 windows, new vinyl blinds throughout, new shelves & rods in all closets, new handrail to basement, updated electrical, new interior & exterior light fixtures, repaired sewer, new sewage pump, updated plumbing where needed, cleaned & serviced HVAC, new gate on north side of house, secured wood railings on front porch, repaired fence, landscaping, interior & exterior paint.

This is a Section 8 approved house.

This house is being marketed for Trinity Properties.

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

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

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