Two bedroom house, Jennings, USA

This fantastic two 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 Jennings Senior High school.
The property needs just a few small cosmetic repairs to be rental ready to a Section
8 standard which will be completed after the new owner closes on the property. The
management company will then place brand tenants paying $900 – $950 in rent
each month. The tenants can either be Section 8 housing or private, the decision
will be for the new owner.

This property is located in North Pointe which is only 8.9 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 Jennings Senior
High School and Northwest Middle School which has provided quality education to
many generations of children in the neighbourhood.

Investment Calculation

Purchase price: 53,900

Gross annual rental income: $11,400

Property running costs: $2,624
(Tax, insurance and management costs)

Net annual rental income: $8,776

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 17%