This fantastic very large 5 bedroom, brick built single family.home is located in Academy and is just seven minutes and three miles from Washington University St Louis. The home has five large bedrooms, two bathrooms and a large lounge diner. The property is currently being refurbished throughout. Brand new tenants will be placed by the management company paying $1,500 – $1,600 each month when the new owner closes on the property.The tenants will be Section 8 housing so the rent will be guaranteed and paid by the US Government. The property is located in Academy which is only 7.1 miles from Downtown Saint Louis. The Academy neighbourhood is bordered by Dr. Martin Luther King Drive to the North and Delmar Boulevard to the South. Established as an upper-middle-class community the houses in academy are larger than surrounding areas. Academy sits right next door to West End in which properties are extremely expensive. Many people are renovating older houses in Academy and also new build homes are now being built where the older less maintained properties have now been demolished. Capital appreciation in this area is highly anticipated which is attracting smart investors. Investment Calculation Purchase price: 72,900 Gross annual rental income: $19,200 Property running costs: $2,883 (Tax, insurance and management costs) Net annual rental income: $16,317 Investment calculation - Net Income divided by Purchase price = NET ROI. Return on investment: 23% Break even in 4.34 Years This property is a Townhouse for sale.
Other Details: Number of Bedrooms: 5, Number of Bathrooms: 2