4131 Wright Ave

4131 Wright Ave

Available: 136 tokens at $48+

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Min Investment
$54
Location
Saint Ann, MO
Projected Return
9.85%
Valuation
$135,607

Company Description

This occupied, cash flowing property is a recently renovated 2 bedroom 1 bathroom single family home located on a 23,958 sqft lot in a trending neighborhood of St. Louis. This property is beautifully updated with white cabinets, butcher block countertops, brand-new stainless-steel appliances, and ceramic subway tile backsplash.
A new tenant has been found and is moving in on 7/15/2022 for a 1 year lease at $1,100/month.

Updates:

Update 5/19/2022: The Property Manager has informed us that the tenant has moved out abruptly without giving notice. The tenant had continued paying rent on a month-to-month basis after their lease was up at the end of January. They have been up-to-date on rent and left the property in excellent condition. The PM is hopeful that the property will be back on the market by this coming weekend. The locks have already been changed and the only costs so far include replacing a few sets of blinds that had slight damage. There are several dead tree branches over-hanging the roof that will absolutely need to be addressed as to not cause roof damage when they fall. There is another large dead branch that should also come down for safety purposes. The PM is working on getting a cost estimate for this right away. The property will be professionally cleaned and have an occupancy inspection within the next few days.
Update 6/10/2022: A tenant has been found (medical student) and is moving in on 7/15 for a 1 year lease at $1,100/month as determined by the Property Manager. The lease is starting in July to allow the PM to take care of the dead tree branches over-hanging the roof that could cause damage to the roof, alongside another large dead branch that will also be coming down for safety purposes.
Update 7/7/2022: has failed a city occupancy inspection. The inspection repairs require miscellaneous repairs and removing dead trees on the property. The Property Manager collected tree removal estimates from three vendors. Only one of the vendors has availability before 7/15, which is when the new tenant moves in. Based on the original governance survey all token holders completed after their first token purchase, 63% of token holders voted to follow the Property Manager's recommendation for any immediate repairs. The total cost of repairs is $5,200. These funds will be taken from the maintenance reserve of $5,525 which will be replenished with 10% of the cash flow until it is full again.
Update 7/15/2022: The new tenant is moving in today on a one year lease at $1,100/month. You will begin receiving daily rental income for this property again starting today.
Update 9/27/2022: The governance voting results are back for the vote on whether to renew landlord insurance with Actual Cash Value coverage or Replacement Cost coverage. The winning vote is: Replacement Cost Coverage. This decision was voted on by 1,008 out of 1,247 tokens which is equal to 80.8% of the total votes. This new insurance policy will go into effect on 9/31/2022, once the current insurance policy ends.
Amount Raised : $0
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