This very nice two bedroom house is located in the sought after neighbourhood of Riverview and is just 1.5 miles to Riverview Gardens School. The home has two bedrooms, one bathroom, a large lounge diner and a full basement. The property has just been refurbished throughout to a Section 8 standard and had already passed its City inspection. The management company will place brand new tenants when the new owner closes in the property. The house should achieve $1,100 – $1,200 in rent each month.
The property is located in Riverview, a unique place in St. Louis. A narrow sliver of land wedged between the St. Louis County cities of Glasgow Village, Riverview (the Village) and Bellefontaine and of course the mighty Mississippi River. The property is just a short walk to River view Drive and the North Riverfront Park. This is the most popular place for locals to try their hand at pulling large fish from the Mississippi River and also walk the 11 mile Mississippi River Greenway Trail, A hotspot for nature lovers and a great bird watching destination.
Investment Calculations
Purchase price
$69,900
Gross annual rental income:
$14,400
Property running costs:(Tax, insurance and management costs)
$2,479
Net annual rental income:
$11,921
Investment calculation - Net Income divided by Purchase price = NET ROI.