Dennis Dr Saint Louis, MO 63136
Property Information
Current Status | Occupied |
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Lease Start Date | 04/15/2024 |
Lease End Date | 04/15/2025 |
Utilities | Paid by Tenant |
Initial Investment* | $27,192 |
*Includes down payment plus $3,000 of closing costs
Purchase Price $112,000
Current Rent | $1,200 |
Cap Rate | 10% |
Cash on Cash Return* | 36% |
Net Cash Flow Per Month* | $296 |
*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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An updated turnkey property
close by shopping centers, restaurants, parks and schools.The recent renovations include:
* Installed new water heater
* New vinyl plank flooring and quarter round throughout the home
* New black, modern kitchen appliances
* Freshly painted interior walls and ceiling
* Updated bathroom with reglazed bathtub and frosted bathroom window for extra privacy
* Updated porch creating an inviting entrance to the property
* Repaired vinyl siding
* Painted Exterior doors and trim
* New rear storm door
* Upgraded back storage room to make 4 seasons room: new plywood, insulation and fresh paint
* New window blinds throughout
* Installed new smoke alarms and co2s in required areas
*Furnace and AC have significant life remaining.This property is being marketed for a FlipSystem client.
- 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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Click here to learn more about buying rental properties from MartelTurnkey. If you have any further questions, schedule a call with an advisor
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