7410 Melrose Avenue University City MO 63130
Offered at $110000
7410 Melrose Avenue is located in the Musick Subdivision in University City MO. It was built in 1923 and the open floor plan was ahead of it’s time. It is one of those homes that makes you feel welcome the minute you open the front door. Stained glass windows flank the fireplace. The spacious living room and dining room have a lot of natural light.
The kitchen is eat-in. The current owners uncovered the beautiful maple floors. It is a cook’s kitchen with a preparation area and three sinks. The counters are solid surface. It definitely works for more than one cook at a time. The old drop down ironing board has been re-purposed to a spice rack.
Off the kitchen is a large deck. The yard is fenced, There is a two car garage but it does need some repair. The roof is the original clay tile and has been maintained over the current ownership (28 years) by St Louis Slate and Tile. The current owners have recently hired St Louis Slate and Tile to do all necessary repairs and install new gutters.
The bedrooms are upstairs. All of the bedrooms have hardwood floors. The master bedroom is 21x 11. The second bedroom is a spacious 14×12. The third bedroom, well… It was custom designed by the original owners back in 1923 to be a nursery. It is small and doesn’t have a closet but has been counted as a bedroom by the county tax records. There is a very easy way to add a closet by cutting through to the very back of the 21 foot master bedroom.
Currently there is one bathroom. There is room in the bathroom to add a separate shower. There is also an ideal spot on the landing to add a half bath.
There is an updated electrical panel in place but the owners are removing the little bit of knob and tube in the basement that is still there.
There is still work to do however. Here are some financing possibilities:
- The 203K is an excellent option. With a traditional FHA loan if you were buying a $100,000 house, your down payment would be 3.5% ($3,500) and you would be responsible for closing costs. The 203K Rehab Loan works almost the same way except that it allows you to finance renovation cost as well. If you found a $50,000 home that needed $50,000 of work, the 203K mortgage would allow you to make the same 3.5% ($3,500) down payment based off of the total $100,000 project cost.
- St. Louis County homeowners now have access to affordable, easy-to-use financing for energy efficiency and renewable energy improvements through the award-winning YgreneWorks™ PACE financing program. This program is brand new to St Louis City and St Louis County so we are still gathering all the information about it. Basically it allows homeowners to install HVAC, solar panels for pools and hot water heaters, windows, skylights, doors and attic insulation. It is 100% financed and added to your tax bill with payback options of 5, 10, 15, or 20 years.
- Freddie Mac renovation mortgages are for borrowers securing permanent financing to repair, restore, rehabilitate or renovate a home. It meets a variety of borrowers’ needs when combined with other Freddie Mac products including many low down payment mortgages. This can be less expensive than the 203 K.
- Enterprise Bank has down payment assistance money available to cover a portion of your down payment, closing costs and mortgage insurance premium. The home at 7410 Melrose qualifies. It does not require that you be a first time borrower however the maximum income is not to exceed $74500/year; the total benefit per customer cannot exceed $20000; it is subject to credit approval. For more information on this loan, contact Walter Daniels at Enterprise Bank: Phone: 314.845.5103 or 314.230.3846 Email: email@example.com
7410 Melrose Avenue is located in the municipality of University City. The City of University City was formally incorporated in September 1906 just after the World’s Fair. It’s name reflects its proximity to Washington University. In fact the city of University City is in close proximity to several universities: St Louis University, Fontbonne University and The University of Missouri St Louis in addition to Washington University.
A main attraction of University City is the Delmar Loop. It is listed as a top ten destination street nationally. It is an avante garde place where artisans have the verve to follow their dreams. The street is lined with unique shops and eateries like Blueberry Hill shown below.
University City is one of the larger municipalities in St Louis County. According to the 2010 Census the population is 35,351. The breakdown is: American Indian & Alaskan native alone – .25%; Asian alone – 4.25%; Black or African American alone – 41.09%; Native Hawaiian and other Pacific native alone – .03%; some other race alone – .94%; Two or more races – 2.67%; white alone – 50.76%.
University City has many parks and facilities for its residents which include Ruth Park Golf Course, the Heman Park Community Center, Centennial Commons Recreation Facility and Swimming Pool. In all it has 17 parks of approximately 255 acres, green space of about 34 acres, 15 play equipment areas, 15 ball diamonds, 10 soccer and football fields and 2 ponds.
7410 Melrose Avenue is in the University City School District: Jackson Park Elementary School, Brittany Woods Middle School and University City High School. They have just hired a dynamic new superintendent, Dr. Sharonica Hardin-Bartley. Here is a partial list of some of the private elementary schools in University City.
7410 Melrose Avenue has a walk score of 68. However, it is walkable to a couple of grocery stores and restaurants. Heman Park, Millar Park and Rabe Park are all within walking distance. It is only a 9 minute walk to the Delmar Loop. It is bikeable to Forest Park.
7410 Melrose Avenue is close to 3 bus lines: 91 Olive – 0.1 mi; 47 North Hanley – 0.1 mi; 66Clayton-Airport – 0.4 mi.
For additional information about this home contact Barb Heise by phone or text: 314-503-4856 or fill out the form below.