This nice two bedroom house is located in Riverview and is just a few minutes walk from Highlands Elementary School. The property is tenant occupied by the same tenant for over four years now, they pay $650 rent a month. The house has two large bedrooms, a kitchen/diner, a full basement and garden with a detached garage. 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 good value for money for a Saint Louis tenanted property and is under management by a great local company.
Property Details
• Two bedrooms.
• One bathroom.
• 844 sqft built.
• 8,063 soft lot.
• Tenanted.
• Fully managed.
• Tenanted.
• Local staff.
Investment Calculation
Purchase price: 32,900
Gross annual rental income: $7,800
Property running costs: $2,148
(Tax, insurance and management costs)
Net annual rental income: $5,652
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%
Break even in 5.5 Years