This fantastic large brick built two apartment multi family home is located in Jeff VanerLou, Saint Louis.
The property is divided into two large apartments, you have a large one bedroom
apartment downstairs and a large one bedroom apartment upstairs.
Both apartments have tenants in place each paying $500 in rent each month. The rent for
these apartments is below market value so should either tenant leave the rent can be
increased. The house is under management with a great local St Louis property
This property is located in Jeff Vander-Lou which is only 3.9 miles to the centre of
downtown Saint Louis.This property is also only three 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: 48,900
Gross annual rental income: $12,000
Property running costs: $2,160
(Tax, insurance and management costs)
Net annual rental income: $9,840
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%Break even in 4.76 Years