Added On :
18 Feb 2021
£ 41,527 / € 47,439 / $ 48,900
This huge two bedroom house is a rare find at $48,900..
This fantastic two bedroom brick built house is located in a very nice street in Jennings, St Louis and is just four minutes and just 1 mile from Jennings Junior and Senior High School. The property consists on two large bedrooms, one bathroom, a large lounge diner, a full basement with a large attached garage with direct access to the house. The property is being refurbished inside and made rental ready to a Section 8 standard. The management company will be placing brand new tenants when the new owner closes on the property paying $800 – $850 each month in rent. The tenants can either be Section 8 or private, the decision will be for the new owner.
This property is located in Jennings, St Louis which is only 9 miles from the centre of Downtown Saint Louis. The house is less than 1 mile to Norwood Hills Country Club which has a premier 18 hole golf course, swimming pool, social club, tennis courts, driving range, and fine dining. The club also hosts weddings, receptions, and catered business meetings in St. Louis. The house is also just a few minutes walk to Northland shopping centre which has all the amenities you could ask for. A great location for rentals.
Purchase price: 48,900
Gross annual rental income: $10,200
Property running costs: $2,020
(Tax, insurance and management costs)
Net annual rental income: $8,180
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
Break even in 5.8 Years