O Fallon, MO - Real estate investment property
Hello All,
Please advise - I have found this property. We are out of town and don't know anything about this area (only through research). Please help - need more eyes on this.
Property is $260000 - 3br, 2bth, 1600sq.ft - property is somewhat updated. Great thing about it is that the tenant is there until 2024 (so it is a long lease and tenant was there since 2018), rent is $1700. We calculated and it is cash flow positive. House is a bit shabby so we expect some repairs in a long run eg, boiler, hvac
My big concern are truly the value of the house and the area. It seems like it is close to airport and downtown (30-40 min).
Any thoughts/insights are greatly appreciated.