We are back with a St. Louis turnkey property (and the cash that goes with it) ready for an investor for snatch up! 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 $800 (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: 1969 (fully renovated)
Purchase price: $125,000 (not a foreclosure, normal sale and with tenants in place as condition of closing!)
Property info: 4 bedrooms, 2 bathrooms, 1914 square feet, 1 story, 1-car parking
Monthly rent collected: $1,200
Property taxes: $125
Property management fees: $80
Monthly expenses (conservatively estimated)
Vacancy (7%): $84
Repairs (5%): $60
Total Monthly Expenses- $400
Net Income = Income – Expenses = $800
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 7.68%
Cash-on-cash return =
Depends on your leveraging.
- 1-Year Home Warranty (issued by a 3rd 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!