We are back again in St. Louis, Missouri! We just can’t get enough of these new turnkey properties: 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??
Well, only knowing that St. Louis has one of the lowest unemployment rates is one of the top 10 most competitive locations to do business among large MSAs (hellow quality tenants)!
We’re excited about St. Louis and to be presenting it to you with this gorgeous property that puts a whopping $1,775 (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 firstname.lastname@example.org.
Location: St. Louis, MO.
Built In: 1990 (fully renovated)
Purchase price: $265,000 (not a foreclosure, normal sale and with tenants in place as condition of closing!)
Property info: 4 bedrooms, 3 bathrooms, 2,592 square feet, 2 story, 2 car parking
Monthly rent collected: $2,500
Property taxes: $290
Property management fees: $80
Monthly expenses (conservatively estimated)
Vacancy (7%): $175
Repairs (5%): $125
Total Monthly Expenses- $775
Net Income = Income – Expenses = $1,725
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 7.81%
Cash-on-cash return =
Depends on your leveraging.
- 1-Year Home Warranty (issued by third party)
If you are interested in this property or seeing others like it, contact Melissa at email@example.com. Take the plunge: you won’t regret it!