2824 Iowa Ave St Louis, MO 63118
|Lease Start Date||04/01/2023|
|Lease End Date||03/31/2024|
|Utilities||Lawn/Water/Sewer paid by Owner|
*Includes down payment plus $3,000 of closing costs
Purchase Price $173,000
|Cash on Cash Return*||28%|
|Net Cash Flow Per Month*||$131|
*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
Both units are occupied!
1st Floor: New kitchen countertops, new kitchen light fixture, new microwave, new paint on cabinets, new cabinet hardware, new bridge cabinet, new stove and refrigerator, new hood, new bathroom light fixture, new paint on vanity, reglazed tub, new front living room window, new living room light fixture, new thermostat, new water lines to boiler, new window HVAC unit.
2nd Floor: New kitchen light fixture, repaired and painted cabinets, new bridge cabinet, new refrigerator, new stove, new microwave and hood, new bathroom light fixture, reglazed tub, new paint on vanity, new window AC unit, new luxury vinyl plank flooring throughout both units except in bathrooms, cleaned basement, new dryer vents, cabled and camera plumbing lines, cleaned HVAC system, new gas shut off valve, 2 new water heaters, new vinyl blinds throughout units, new smoke and CO detectors, 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.
- 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
- 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.
Have additional questions?Book a call!