We are loving this St. Louis turnkey property trend (and the cash that goes with it)! What could be better than properties located in suburban communities with majority owner-occupants and tenants and property management in place as a condition of closing?
Only knowing that St. Louis has lower than average unemployment rates and is one of the top 10 most competitive locations to do business among large MSAs (hello, quality tenants)!
We’re excited about St. Louis and to be presenting it to you with this gorgeous property that puts $883 (conservatively estimated!) in your pocket every month. Check it out, and if you’re interested in buying this or a property like it, just contact Melissa at firstname.lastname@example.org.
Location: St. Louis, MO.
Built In: 1957 (fully renovated)
Purchase price: $122,000 (not a foreclosure, normal sale and with tenants in place as condition of closing!)
Property info: 4 bedrooms, 2 bathrooms, 1457 square feet, 1 story, 1 car parking
Monthly rent collected: $1,300
Property taxes: $119
Property management fees: $80
Monthly expenses (conservatively estimated)
Vacancy (7%): $91
Repairs (5%): $65
Total Monthly Expenses- $417
Net Income = Income – Expenses = $883
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 8.68%
Cash-on-cash return =
Depends on your leveraging.
- 1-Year Home Warranty (issued by third party)
If you are interested in this property or seeing others like it, contact Melissa at email@example.com. Take the plunge: you won’t regret it!