Rent to Own Homes in Sullivan
The land on which Sullivan, Missouri, now sits was originally purchased by Stephen Sullivan and his wife Dorcas for $400. That was in 1856, but the city didn't start to take root until a train depot was built to encourage railway traffic. While the city was originally named Mount Helicon, it was changed to Sullivan after the railroad gave that name to the depot. Sullivan... Read More
The land on which Sullivan, Missouri, now sits was originally purchased by Stephen Sullivan and his wife Dorcas for $400. That was in 1856, but the city didn't start to take root until a train depot was built to encourage railway traffic. While the city was originally named Mount Helicon, it was changed to Sullivan after the railroad gave that name to the depot. Sullivan started out with fewer than 1,000 residents, but according to the United States Census Bureau, there are now around 7,000 people calling the town home.
The average family size in Sullivan is around three people, and the average household size is about the same. The median income per household was around $30,000 in 2000, and the median age for residents was just over 35 years old. Many residents are attracted to the friendly vibe of this small town, but the affordable cost of housing is what keeps many families in the community long term.The below results are primarily rent to own homes in Franklin County, MO:
The land on which Sullivan, Missouri, now sits was originally purchased by Stephen Sullivan and his wife Dorcas for $400. That was in 1856, but the city didn't start to take root until a train depot was built to encourage railway traffic. While the city was originally named Mount Helicon, it was changed to Sullivan after the railroad gave that name to the depot. Sullivan... Read More
The land on which Sullivan, Missouri, now sits was originally purchased by Stephen Sullivan and his wife Dorcas for $400. That was in 1856, but the city didn't start to take root until a train depot was built to encourage railway traffic. While the city was originally named Mount Helicon, it was changed to Sullivan after the railroad gave that name to the depot. Sullivan started out with fewer than 1,000 residents, but according to the United States Census Bureau, there are now around 7,000 people calling the town home.
The average family size in Sullivan is around three people, and the average household size is about the same. The median income per household was around $30,000 in 2000, and the median age for residents was just over 35 years old. Many residents are attracted to the friendly vibe of this small town, but the affordable cost of housing is what keeps many families in the community long term.The below results are primarily rent to own homes in Franklin County, MO:
Some of the major attractions in the Sullivan area include Meramec State Park, Caveman Zipline and a small collection of bars and pubs that attract adults after dark. The town is positioned in the east-central region of Missouri, approximately 65 miles southwest of St. Louis and about 100 miles southeast of Columbia. The Mark Twain National Forest is just south of the city.
Buying a Home in Sullivan?
The median listing price in Sullivan tends to stay well below $200,000. While there are many single-family homes selling for $150,000 or less, they aren't all in move-in condition. You may want to consider the estimated cost of renovation and repairs in addition to the asking price before you commit to buying a home. There are some new constructions on the market, and you may want to consider an empty lot that is suitable for building a customized home. With the low real estate prices in this city, it's possible to build a brand new home for less than the cost of a luxury home in many other cities.
Buying vs. Rent to Own Homes?
Why continue renting when Sullivan homes are so affordable? If you dream of owning your home but need some time to improve your credit score, clear a bankruptcy from your report, or otherwise prepare for the mortgage application process, a rent-to-own home may give you the break that you need. You can select a home that you want to buy in the future and start out as a renter for that property. Once you officially make the purchase, you become the homeowner. You don't even have to move one last time because you're already established in your new home.
You'll find the small town known as Sullivan just north of the Mark Twain National Forest in east-central Missouri. The town is within 100 miles of multiple larger cities, including St. Louis and Columbia. Residents enjoy easy access to expansive forests suitable for outdoor recreation, and they can take advantage of an affordable housing market. There are also some exciting activities located in this area of Missouri, including a zipline course and the nearby Meramec State Park.
Summary
You'll find the small town known as Sullivan just north of the Mark Twain National Forest in east-central Missouri. The town is within 100 miles of multiple larger cities, including St. Louis and Columbia. Residents enjoy easy access to expansive forests suitable for outdoor recreation, and they can take advantage of an affordable housing market. There are also some exciting activities located in this area of Missouri, including a zipline course and the nearby Meramec State Park.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
About Our Listings
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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