Off-market, turnkey-style creative financing opportunity in Moline Acres, an established, working-class residential neighborhood in North St. Louis County. Mature community with older homes and longtime residents. Value-oriented C+ investor-class submarket.
SUBJECT-TO FINANCING
Existing 1st Mortgage: $144,233.90
Deferred 2nd Mortgage Balance: $5,846.20
Total Existing Mortgage Debt: $150,080.10
Monthly Mortgage Payment: $1,511.34
3-Bedroom Fair Market Rent (FMR): $1,600/month
Buyer acquires the property subject to the existing financing, with no new acquisition loan required. The $20,000 is the entry to clear the exisiting behind payments.
PROPERTY HIGHLIGHTS
Updated kitchen and bathrooms
Finished lower level
Mostly turnkey interior
Roof approximately 6 years old
Flat roof replaced approximately 2 years ago
Central heating and air conditioning
Minor cast-iron drain repair needed
Established residential neighborhood
Potential long-term rental or creative finance investment
SIGNED CONTRACT | OFF MARKET | CREATIVE FINANCE
Acquire control of the property for a $20,000 taking title subject to existing financing.
Excellent opportunity for experienced subject-to investors looking to expand their St. Louis portfolio.
Contact : John
(662) 686-8757
More About This Property
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ARV $170,000
From the listing
The seller picked no comps. Investimate’s own value for this home is $133,000.
