This fantastic three bedroom house is located in Jennings, a thriving middle class neighbourhood which is one of the most stable neighbourhoods in the city and is less than 1 mile to Herzog Elementary school. The home has two large bedrooms, one bathroom and a large lounge diner. The property is currently being refurbished throughout. Brand new tenants will be placed by the management company paying $850 in rent each month when the new owner closes on the property.The tenants will be Section 8 housing so the rent will be guaranteed and paid by the US Government.
This property is located in Jennings which is only 8.3 miles from the centre of Downtown Saint Louis. This quaint and stable neighbourhood is close to The Herzog Elementary School and Northwest Middle School which has provided quality primary education to many generations of children in the neighbourhood.
• Three bedrooms.
• Full Basement.
• 768 sqft built.
• 3,833 soft lot.
• Fully managed.
• Local staff.
Purchase price: 43,900
Gross annual rental income: $10,200
Property running costs: $2,145 (Tax, insurance and management costs)
Net annual rental income: $8,055
Investment calculation - Net Income divided by Purchase price = NET ROI.