St. Louis Rental. Currently occupied $75 below market rent

3 Replies

Price $22,500
Location 5946 Laura Ave, St. Louis, MO, 63136
Property Details

Single Family Residence

  • Current Rent: $650
  • Square Footage: 779
  • Bedrooms: 2
  • Bathrooms: 1.0
  • Occupied: Yes
  • Lot Size:

Full details available HERE

Short story. This house is in great condition. Needs a few small maintenance items amounting to $700-$1300, but nothing making it unsafe or unrentable.  Current tenant is month to month right now and $75 under market rent, which should be $725. I buy every house I can, but this does not meet my lender critera since market value is under $90,000.  I can point you towards property management in the area as well.

In addition to the purchase price, closing costs will need to be covered for seller as well as about $1300 in back taxes.

Hi Junior. I’ll check and get back to you. Normally I would know this but my plan was to get a new tenant in at the higher rate so I wasn’t concerned with the current arrangement. 

For any future readers, the tenant pays gas and electric. Owner pays sewer and water.

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