This fantastic large brick built two bedroom single family home is located in Penrose, Saint Louis. The home has two large bedrooms, one bathroom, a large lounge diner, a full basement with a large rear garden. The property also has good tenants already in place paying $550 in rent each month. The property is also under management by a great local St Louis management company.
This property is located in Penrose which is only 5.3 miles to the centre of downtown Saint Louis.This property is also only four minutes 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.
Purchase price: 32,900
Gross annual rental income: $6,600
Property running costs: $1,380
(Tax, insurance and management costs)
Net annual rental income: $5,220
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 16%
Break even in 6.25 Years