Located on Mill Street in Chesterfield, this 2-bedroom, 1-bath home presents a true fixer-upper and redevelopment opportunity for investors, builders, or buyers looking for a project with long-term upside. Situated near downtown Chesterfield and connected to city water and sewer, the property sits on a large L-shaped lot that offers flexibility rarely found in this area. While the existing structure is in need of significant work, the value here lies in the land, the location, and the potential for future use.
This property is being sold strictly as-is, with no warranties or guarantees of any kind, particularly regarding structural or mechanical systems. The home has known structural damage and will require extensive repairs or possible consideration of alternative plans, such as a full renovation, partial rebuild, or redevelopment. For the right buyer with vision, resources, and experience, this property offers a blank canvas in a convenient in-town setting.
Property Overview
The existing house is a modest 2-bedroom, 1-bath residence that has fallen into disrepair over time. It will require substantial rehabilitation to become habitable again. This is not a light cosmetic project—buyers should expect major work and should conduct all desired inspections and due diligence prior to purchase.
Despite the condition of the structure, the property benefits from several strong fundamentals:
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City water and city sewer connections
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Proximity to downtown Chesterfield
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A generously sized L-shaped lot
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Potential space for an additional residence behind the existing home (subject to buyer verification with local authorities)
These features make the property especially attractive to investors or buyers who understand how to unlock value beyond the current condition.
The Lot: A Key Asset
One of the most compelling aspects of this property is the large L-shaped lot, which provides far more flexibility than a standard city parcel. The unique shape and size may allow for:
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Expansion of the existing structure
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Construction of an additional residence behind the current home
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Redevelopment into a more modern single-family home
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Long-term land holding in a growing area
While any additional construction or subdivision would need to be confirmed with local zoning and planning authorities, the layout of the lot strongly suggests future development potential that goes beyond a simple renovation project.
In many cases, properties like this are purchased primarily for the land, with the existing structure serving as either a renovation challenge or a candidate for removal. This lot offers space, access, and utility connections that significantly enhance its underlying value.
Location Benefits
The home is located near downtown Chesterfield, offering convenient access to:
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Local shops and services
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Restaurants and community amenities
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Schools, parks, and everyday necessities
Being within city limits and connected to public utilities adds long-term appeal, especially for redevelopment or rental strategies. Properties close to downtown areas often benefit from stronger demand over time, particularly as communities invest in revitalization and infrastructure.
For buyers seeking an urban infill opportunity or a centrally located investment, this location checks important boxes.
Condition and Buyer Expectations
It is important to clearly state that this home needs a lot of work. The structure has existing structural issues, and no representations are being made regarding the condition of the foundation, framing, roof, mechanical systems, plumbing, or electrical components.
Key points buyers should understand:
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The property is sold as-is, where-is
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No repairs will be made by the seller
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No warranties on structural or mechanical components
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Buyers should budget for major repairs or alternative redevelopment plans
This property is best suited for:
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Experienced investors
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Contractors or builders
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Buyers comfortable with heavy renovation or teardown scenarios
First-time buyers or those seeking a move-in-ready home should carefully consider whether this project aligns with their experience and financial capacity.
Owner Financing Opportunity
An added advantage of this property is that the seller is willing to consider owner financing, provided there is a large down payment. This can be a significant benefit for buyers who:
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Prefer not to use traditional bank financing
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Are purchasing an as-is or distressed property that may not qualify for conventional loans
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Want more flexible terms
Owner financing can open the door to creative investment strategies, particularly for buyers planning to renovate, rebuild, or hold the property long-term. All terms would be subject to negotiation and agreement between buyer and seller.
Investment and Redevelopment Potential
Properties like this often appeal to buyers who see opportunity where others see obstacles. With city utilities, a sizeable lot, and a central location, this property could be repositioned in several ways:
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A full renovation and resale
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A long-term rental after rehabilitation
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A teardown and new construction
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A multi-phase project utilizing the lot’s size and shape
The potential to possibly add a second residence behind the existing house adds another layer of value, making this property especially interesting for builders or investors focused on maximizing land use.
Important Disclosures
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Property address: 305 Mill St, Chesterfield
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Sold as-is, with no warranties expressed or implied
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Structural damage is known and acknowledged
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Buyer responsible for all inspections, permits, and verification of future use
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Any redevelopment or additional construction is subject to buyer due diligence
Final Thoughts
This Mill Street fixer-upper is not a turnkey home—it is a project property with upside. The combination of a large L-shaped lot, city water and sewer, proximity to downtown Chesterfield, and potential owner financing makes it an opportunity worth serious consideration for the right buyer.
If you have the vision, experience, and resources to take on a substantial renovation or redevelopment, this property offers a chance to create value in a desirable in-town location. Whether your plan is to rebuild, reimagine, or invest for the future, the foundation for opportunity is here—literally and figuratively.
Feel free to call or text for more information or to discuss financing options.
Listed on Zillow