Are you ready to get in on this St. Louis trend with the cash flow from turnkey properties?? 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 melissa@hipsterinvestments.com
Location: St. Louis, MO.
Built In: 1964 (fully renovated)
Purchase price: $120,000 (not a foreclosure, normal sale and with tenants in place as condition of closing!)
Property info: 4 bedrooms, 3 bathrooms, 1302 square feet, 1 story, 1-car parking
Income
Monthly rent collected: $1,295
Expenses
Monthly expenses
Property taxes: $127
Insurance: $133
Property management fees: $80
Monthly expenses (conservatively estimated)
Vacancy (7%): $91
Repairs (5%): $65
Total Monthly Expenses- $495
Net Income = Income – Expenses = $800
Advanced Numbers
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 8.00%
Cash-on-cash return =
Depends on your leveraging.
Special Terms:
- 1-Year Home Warranty (issued by a 3rd party)
If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com. Take the plunge: you won’t regret it!
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