This home is part of a 16-home rental portfolio in North St. Louis County with an average rent of about $1,732 per home. The package gives an investor the chance to add immediate scale with a well-established tenant base. Offered at $1,799,000, or about $112,438 per home, the portfolio generates… Read More $27,717 in monthly rent and approximately $332,604 annually. Based on the current pro forma, estimated annual net rental income is $197,097, resulting in an estimated 10.96% cap rate at the asking price. Fifteen of the 16 homes are currently leased, and the remaining property is expected to have a Section 8 tenant in place by closing. Twelve of the homes have or are expected to have Section 8 leases, with the other four rented at market rates. The tenant history is especially strong, with an average tenure of approximately six years and three tenants who have lived in their homes for more than 10 years. The seller has also taken some of the guesswork out of evaluating the portfolio. Professional pre-listing inspections were completed on 15 of the 16 homes, giving buyers detailed information about the condition of the properties before making an offer. Some of the homes have older roofs and mechanical systems, and the asking price reflects that future capital expense. The portfolio is being sold as-is, with no seller repairs or credits. For an investor looking to grow an existing St. Louis rental operation, this is an opportunity to acquire 16 homes at once with nearly full occupancy, long-term tenants, substantial Section 8 income and a great return from day one without having to assemble the portfolio one property at a time. Please view the virtual tour of this property at: https://my.360tourlink.com/70f1e6d7-d752-4897- 8607-56304418588b?type=unbranded Please see the documents section for a brochure with complete details on the package. Read Less
Listing courtesy of Terreri Team Realty LLC, 314-488-0494.
Listing Snapshot
Days Online
10
Last Updated
Property Type
Single Family Residence
Beds
3
Full Baths
1
Partial Baths
1
Square Ft.
1,736
Lot Size
0.18 Acres
Year Built
1936
MLS Number
26052525
Additional Details
Basement
Basement: Partially Finished, Full, Basement
Building
Above Grade Finished Area: 1736 Sq.Ft., Above Grade Finished Area Source: Assessor, Architectural Style: Traditional, Construction Materials: Brick, Vinyl Siding, Levels: One and One Half, Living Area: 1736 Sq. Ft., 8 total rooms, Year Built: 1936
Cooling
Cooling: Central Air
Disclosures
Disclosures: Lead Paint
Fence
Fencing: Back Yard, Chain Link
Fireplaces
Features: Decorative, 1 Fireplace Total, Fireplace Included
Heating
Heating: Forced Air
Lot
Features: Level, Lot Size Acres: 0.18, Lot Size Square Feet: 7840.8 Sq.Ft.
Property
Property Sub Type: Single Family Residence
Sewer
Public Sewer
Taxes
Annual Tax Amount: 1929, Tax Year: 2025
Utilities
Electricity Available: Ameren, Utilities: Cable Available, Water Source: Public
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