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Two Bedroom House (ref. 41591103)
Date & Time Listed: 2021-05-03 10:45:10 (GMT)
This fantastic two apartment multi family house is located in Baden, a thriving middle class neighbourhood which is one of the most stable neighbourhoods in the city and is just a short drive to Jennings High School. The property is divided into two large one bedroom apartments, you have a large one bedroom apartment downstairs and a large one bedroom apartment upstairs. The property has has a good tenant in place in one apartment paying $400 in rent each month, the going rate for this property in this location is $500 – $550 each month so should the tenant leave the rent could be increased. The vacant apartment is rental ready and the management company will place a brand new tenant paying $500 – $550 in rent each month when the new owner closes on the property.
This property is located in Baden which is only 7.8 miles from the centre of Downtown Saint Louis. Baden is mostly known for it’s almost completely intact business district along a cool stretch of Broadway from Switzer Avenue to Halls Ferry Road. Baden is one of St. Louis’ finest neighbourhoods.The commercial district, proximity to the River and the Riverfront Trail make it a highly desirable place for investors.
Purchase price: 52,900
Gross annual rental income: $11,400
Property running costs: $2,042
(Tax, insurance and management costs)
Net annual rental income: $9,358
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%
Break even in 5.5 Years
This property is a Townhouse for sale.
Number of Bedrooms: 2
Number of Bathrooms: 2
Price: 52,900.00 USD
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