This fantastic three bedroom house is located in North Pointe, a thriving middle class neighbourhood which is one of the most stable neighbourhoods in the city and is just a short walk to Herzog Elementary school. The property has just been made rental ready and the management company have brand new tenants that will be already in the property when the new owner closes. The new tenants will be paying $750 in rent each month. This property offers incredible value for this location and is under management by a great local company.
This property is located in North Pointe which is only 7.7 miles from the centre of Downtown Saint Louis. This quaint and stable neighbourhood is home to the North Park United Methodist Church and Mizpah Lutheran Church. The Herzog Elementary School and Northwest Middle School which has provided quality primary education to many generations of children in the neighbourhood.
Purchase price: 39,900
Gross annual rental income: $9,000
Property running costs: $1,779
(Tax, insurance and management costs)
Net annual rental income: $7,221
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%