Three bedroom house

Full Description

This fantastic large brick built three bedroom single family home is located in Penrose,
Saint Louis.
There are three spacious bedrooms, one bathroom, a full basement and a large rear
garden. There are tenants in place keeping the property in great condition that have
been in the property for twenty years paying $500 rent each Month, the tenant is now
on an 11 month lease paying $525 each month. The actual going rate for rent this area
and type of property is closer to $750 – $850 each month. If the rent was just $750 this
would increase the ROI from an already good 14% to 21% !
The property is under management by a great local Cleveland management company.

This property is located in Penrose which is only 5.7 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.

 

Investment Calculation

Purchase price: 35,900

Gross annual rental income: $6,300

Property running costs: $1,290
(Tax, insurance and management costs)

Net annual rental income: $5,010

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

Return on investment: 14%

Break even in 7.14 Years

Key Information

Property ID: 41605114
Price: £26,438
Property Type: Townhouse
Categories:

  • Residential Property
  • House

This large three bedroom house is a rare find at $35,900..