What's Available Wednesday? St. Louis!

Ready for new St. Louis properties? They are fully renovated single-family homes with high-end finishes, have tenants and property management in place… and all are in suburban communities with majority owner-occupants.

Plus, 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 $704 (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: 1925 (fully renovated)

Purchase price: $110,000 (not a foreclosure, normal sale and with tenants in place as condition of closing!)

Property info: 4 bedrooms, 2 bathrooms, 1444 square feet, 2 story

Income

Monthly rent collected: $1,095

Expenses

Monthly expenses

Property taxes: $67

Insurance: $83

Property management fees: $110

Monthly expenses (conservatively estimated)

Vacancy (7%): $77

Repairs (5%): $55

Total Monthly Expenses- $391

Net Income = Income – Expenses = $791

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 7.68%

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!

Want to see more deals like this?
We’ll send them to you!

Want to see more deals like this? We'll send them to you!
Comments
  • Caroline at Costa Rica FIRE
    Reply

    Love St. Louis as a city. We invest in the Southeast so our geo focus is different. Something to keep in mind in running numbers is to budget for increased maintenance when it’s an older property.

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