What's Available Wednesday? St. Louis!We have another St. Louis turnkey property for you to start the new year with (and the cash that goes with it)! The properties we find are located in suburban communities with majority owner-occupants and have tenants and property management in place as a condition of closing!

What could be better?? 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 $867 (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: 1965 (fully renovated)

Purchase price: $143,000 (not a foreclosure, normal sale and with tenants in place as condition of closing!)

Property info: 5 bedrooms, 2 bathrooms, 1546 square feet, 2 story, 2 car parking

Income

Monthly rent collected: $1,395

Expenses

Monthly expenses

Property taxes: $125

Insurance: $155

Property management fees: $80

Monthly expenses (conservatively estimated)

Vacancy (7%): $98

Repairs (5%): $70

Total Monthly Expenses- $528

Net Income = Income – Expenses = $867

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 7.28%

Cash-on-cash return =

Depends on your leveraging.

Special Terms:

  • 1-Year Home Warranty (issued by third 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!

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