This fantastic large brick built three bedroom house is located in O’Fallon, Saint Louis. The two-story home features a brand new roof (Sept. 2019), Gorgeous stain glass windows, solid hardwood flooring with updated electrical & plumbing. The property is currently being refurbished throughout to a Section 8 standard. The management company will be placing brand new Section 8 tenants when the new owner closes on the property paying $950 in rent each month.
This property is located in O’Fallon which is only 4.8 miles to the centre of downtown Saint Louis.This property is also a short walk to the Fairground park which opened in 1908 .The park has a huge history and is very well kept and spans 131.46 acres. Local residents enjoy the park for fishing, skating on the roller rink, festivals, picnicking under trees, playing tennis or just enjoying the walks with many beautiful lakes.
• Three bedrooms.
• One and a half Bathrooms
• 1,684 sqft built
• 3,393 soft lot.
• Fully managed.
• Local staff.
Purchase price: 52,900
Gross annual rental income: $11,400
Property running costs: $1,879 (Tax, insurance and management costs)
Net annual rental income: $9,521
Investment calculation - Net Income divided by Purchase price = NET ROI.