This fantastic two bedroom house is located in Baden, a thriving middle class
neighbourhood which is one of the most stable neighbourhoods in the city and is
just a short walk to Nance Elementary school.
The home has 2 large bedrooms, one bathroom and a large lounge diner. The
property has just been updated inside to a good Section 8 standard. The
management company will place brand new tenants when the new owner closes
on the property paying $750 in rent each month. tenants in place. The tenants can
either be Section 8 housing or private, the decision will be made by the new owner.
This property is located in Baden which is only 7.8 miles from the centre of
Downtown Saint Louis. Baden is mostly known for it’s almost completely intact
business district along a cool stretch of Broadway from Switzer Avenue to Halls
Ferry Road. Baden is one of St. Louis’ finest neighbourhoods.The commercial
district, proximity to the River and the Riverfront Trail make it a highly desirable
place for investors.
Purchase price: 41,900
Gross annual rental income: $9,000
Property running costs: $1,683
(Tax, insurance and management costs)
Net annual rental income: $7,317
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%Break even in 5.5 Years