This fantastic three bedroom brick built single family home is located in
Penrose, Saint Louis.
The property has three large bedrooms, one bathroom, a full basement
and a large rear garden. The property has been refurnished just over a
year ago and has had new Section 8 tenants in place now for over a
year paying $850 in rent each month.
The rent is paid direct to the landlord via the city of ST Louis
This property is located in Penrose which is only 6.5 miles to the centre
of downtown Saint Louis.This property is also only five 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: 47,900
Gross annual rental income: $10,200
Property running costs: $1,856
(Tax, insurance and management costs)
Net annual rental income: $8,344
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%Break even in 5.5 Years