This very nice two bedroom single family home is located in Hillsdale and is just seven minutes and 3 miles from Washington University St Louis. The home has two large bedrooms, one bathroom and a large lounge diner. The property has recently been updated inside throughout to a Section 8 standard and now has a Section 8 tenant in place paying $630 in rent each month. There is a possibility the tenant could apply for an increase in rent payments in the region of $850 – $900.
The property is located in Hillsdale which is only 9.6 miles from Downtown Saint Louis.The Hillsdale neighbourhood in St. Louis is undergoing a much needed transformation as part of a new Blight Elimination project. the city is partnering with the new non-profit organisation to clear four city blocks of vacant homes. Hillsdale sits close to West End where similar projects have now rejuvenated the area with luxury properties now in abundance.
Investment Calculations
Purchase price
$49,900
Gross annual rental income:
$7,560
Property running costs:(Tax, insurance and management costs)
$1,849
Net annual rental income:
$5,711
Investment calculation - Net Income divided by Purchase price = NET ROI.