Must See St. Louis home with good cash flow [code 5602]
- 3 bedroom 2 bath single family residence
- Highly sought after neighborhood in South City St. Louis
- Fully remodeled and upgraded
- No (low) crime area
- Over $475/mo. cash flow
- Hardwood flooring throughout
- Partially finished walk out basement with updated, lounging area, full bathroom and sleep area
- Oversized 2 car detached garage
- Property is sandwiched between two A+ (10/10) rated private schools within 1/2 mile from the home
- Easy access to highway 64/44
- Covered outdoor sitting area that opens to the large yard
- 6,665 square foot lot
- This area attracts young professional tenants seeking quiet walkability to local grocery stores, restaurants and pubs. Also easy access to the best city parks St. Louis has to offer. There are nearby businesses, hospitals & parochial schools such as Barnes Jewish Hospital, St. Louis University Medical & Dental School, & Anheuser Busch. It's the time to buy in this area due to the upcoming spring market for immediate tenancy for approved and qualified tenants! Most tenants provide double income salaries seeking properties like this with a projected target rent of $2,000/mo.
Why should you consider this house / what makes it a good investment?
- Built: 1957
- Size: 1,747 sq ft
- Quiet residential street, Desirable community, good schools
What's next?
Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.
Metro: St. Louis
Team: Alicia – email directly at stl2@simplydoit.net
Code: 5602
| Property Specifications | 1 |
| Bedrooms | 3 |
| Bathrooms | 2 |
| Square Feet | 1747 |
| Year Built | 1952 |
| Garage Size | 2 |
| Schools Rating (on scale of A-F) | C |
*Please see note above about schools in this neighborhood
| Financing Assumptions | |||
| Down Payment (%) | 25% | ||
| Down Payment Amount | $56,250 | ||
| Financed Amount | $168,750 | ||
| Interest Rate | 3.88% | ||
| Mortgage Term (Years) | 30 | ||
| Monthly Mortgage Payment | $794 | ||
| Cash Outlay (Total Out of Pocket) | $64,500 | ||
| Purchase Assumptions | My Offer |
| Offer used for analysis | $225,000 |
| Suggested offer (low) | $225,000 |
| Suggested offer (high) | $225,000 |
| Asking | $225,000 |
| Market Value (after improvements) | $225,000 |
| Improvements (lower) | $2,500 |
| Improvements (upper) | $5,000 |
| Closing Costs | $2,250 |
| Mortgage Costs | $2,250 |
| Other Fees At Closing | $0 |
| Total Cost | $233,250 |
| Financial Assumptions | Monthly | Yearly | ||
| Rent (upper) | $1,900 | $2,000 | $24,000 | |
| Rent (lower) | $1,800 | $21,600 | ||
| Property Tax Rate (Approx.) | 1.3% | |||
| Property Taxes | $230 | $2,760 | ||
| Insurance | $100 | $1,200 | ||
| Repairs | $75 | $900 | ||
| Variable-Cost PM | 7.5% | |||
| Property Management Fee | $143 | $1,710 | ||
| Leasing Fee | 75% | $59.4 | $713 | |
| HOA | $0 | $0 | ||
| Vacancy Rate | 4.0% | |||
| Total Fixed Expenses | $677 | $8,126 | ||
| Total Expenses (Fixed + Mortgage) | $1,471 | $17,648 | ||
| Financial Analysis / Deal Attractiveness | |||||
| Years: | 5 | 10 | 15 | 20 | |
| Cap Rate | 8.9% | 10.1% | 11.5% | 12.9% | |
| Net Cash Flow | $28,752 | $65,452 | $110,927 | $166,091 | |
| Equity Increase | $65,177 | $144,422 | $240,771 | $357,916 | |
| Total Gain | $93,929 | $209,874 | $351,698 | $524,007 | |
| Average Cash Flow/Year | $5,750 | $6,545 | $7,395 | $8,305 | |
| Average Cash Flow/Month | $479 | $545 | $616 | $692 | |
| Average Gain/Year | $18,786 | $20,987 | $23,447 | $26,200 | |
| Average ROI | 145.6% | 325.4% | 545.3% | 812.4% | |
| Annual ROI | 29.1% | 32.5% | 36.4% | 40.6% | |
| Projected Property Value | $273,747 | $333,055 | $405,212 | $493,003 | |
| Property Ratings Suggestions | |||||
| Item | Suggested Criteria (Min.) | This Property | FAVORABLE / INSUFFICIENT | ||
| Schools | B | C | INSUFFICIENT | ||
| Square Feet | 1000 | 1,747 | FAVORABLE | ||
| Bedrooms | 3 | 3 | FAVORABLE | ||
| Bathrooms | 2 | 2 | FAVORABLE | ||
| Year Built | 1970 | 1952 | INSUFFICIENT | ||
| Rent/Price (%) | 0.75% | 0.89% | FAVORABLE | ||
| Average Cash Flow (at year 5) | $125 | $479 | FAVORABLE | ||
| Average ROI (at year 5) | 15% | 29.1% | FAVORABLE | ||
Disclaimer
Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.
The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info.