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!
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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.