This large three bedroom house is located in Castle Point and is just a four minute walk from Lewis & Clark Elementary School. The property is tenant occupied by the same tenant for many years now, they pay $650 rent a month. The house has three large bedrooms, a kitchen/diner, a full basement and a large rear garden. The rent has potential to be increased should the new owner wish as the tenant in place pays below the going rate, however the tenant has been in the property for many years and has a good payment history. This property offers incredible value for money for a Saint Louis tenanted property and is under management by a great local company.
This property is located in Castle Point which is only 11 miles from the centre of Downtown Saint Louis. This property is also close to Lewis & Clark Elementary School and The Saint Louis County Library. There are also many great schools in this area.
Purchase price: 36,900
Gross annual rental income: $7,800
Property running costs: $2,080
(Tax, insurance and management costs)
Net annual rental income: $5,720
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 16%