This great brick built two bedroom house is located in O’Fallon, Saint Louis. The home has 2 large bedrooms, one bathroom and a large lounge diner. The property is just being updated to a Section 8 standard. The management company will place brand new tenants when the new owner closes on the property paying $800 – $850 in rent each month. The rent is paid direct to the landlord via the US Government. This property is located in O’Fallon which is only 4.4 miles to the centre of downtown Saint Louis.This property is also a short walk to the Fairground park which opened in 1908 .The park has a huge history and is very well kept and spans 131.46 acres. Local residents enjoy the park for fishing, skating on the roller rink, festivals, picnicking under trees, playing tennis or just enjoying the walks with many beautiful lakes. Investment Calculation Purchase price: 48,900 Gross annual rental income: $10,200 Property running costs: $1,742 (Tax, insurance and management costs) Net annual rental income: $8,458 Investment calculation - Net Income divided by Purchase price = NET ROI. Return on investment: 18% Break even in 5.5 Years This property is a Townhouse for sale.
Other Details: Number of Bedrooms: 2, Number of Bathrooms: 1