This fantastic very large brick built four bedroom multi family home is located in Kingsway East, Saint Louis. The property is split into two, two bedroom apartments. There is a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. The apartment downstairs has a good long term tenant that has resided in the house for 3 years paying $550 in rent each month. The upper apartment is just being refurbished to a Section 8 standard. The management company will place brand new tenants paying $600 – $650 when the new owner closes on the property. The tenants will be Section 8 housing so the rent each month is paid direct to the landlord via the US Government. This property is located in Kingsway East which is only 5.9 miles to the centre of downtown Saint Louis.This property is also only four minutes and just 1.2 miles to The Washington Montessori School. There are many great schools in this area. Investment Calculation Purchase price: 56,900 Gross annual rental income: $14,400 Property running costs: $2,406 (Tax, insurance and management costs) Net annual rental income: $11,994 Investment calculation - Net Income divided by Purchase price = NET ROI. Return on investment: 22% Break even in 4.54 Years This property is a Townhouse for sale.
Other Details: Number of Bedrooms: 4, Number of Bathrooms: 2