This fantastic large brick built two apartment multi family home is located in Penrose,
Saint Louis.
The property is divided into two large apartments, you have a large three bedroom
apartment upstairs and a large two bedroom apartment downstairs. The property will
be updated and supplied rental ready. The management company will place brand
new tenants when the new owner closes on the property. The two bedroom
apartment will achieve $650 each month and the three bedroom apartment will
achieve $750 in rent each month.

This property is located in Penrose which is only 6.1 miles to the centre of downtown
Saint Louis.This property is also only six minutes 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: 69,900

Gross annual rental income: $16,800

Property running costs: $2,794
(Tax, insurance and management costs)

Net annual rental income: $14,006

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 21%