Saint Louis – $61,900

Net Return – 19%

Saint Louis – $61,900 Array, Array

61,900

Description

This fantastic large brick built two apartment multi family home is located in Jeff Vander Lou, Saint Louis. The property is divided into two large apartments, you have a large two bedroom apartment upstairs and a large two bedroom apartment downstairs. The property has just been updated and made rental ready. One apartment has a tenant in place already that pays $500 in rent each month. The management company will place a brand new tenant in the second apartment when the new owner closes on the property paying $650 in rent each month.

This property is located in Jeff Vander Lou which is only 3.6 miles to the centre of downtown Saint Louis.This property is also just 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.

Property Details

• Four bedrooms.

• Two Bathrooms.

• 2,260 sqft built.

• 4,759 soft lot.

• Fully managed.

• Tenanted.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 61,900

Gross annual rental income: $13,800

Property running costs: $2,320
(Tax, insurance and management costs)

Net annual rental income: $11,480

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 19%

Break even in 5.26 Years

Detail

Price: 61,900

Net Return: 19%

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