Features & Amenities

Interior

  • Total Bedrooms

    2

  • Bathrooms

    1

  • 1/2 Bathrooms

    1

  • Above Grade Finished Area

    1043.0

  • Basement YN

    YES

  • Cooling YN

    YES

  • Cooling

    Ceiling Fan(s), Electric

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Electric

  • Main Level Bedrooms

    2

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Concrete

  • Other Exterior Features

    Storage

  • Pool

    No

Area & Lot

  • Lot Features

    Other

  • Lot Size(acres)

    0.249

  • Lot Size(square feet)

    10,846

  • Property Type

    Residential

  • Property Sub Type

    Single Family Residence

  • Architectural Style

    Bungalow

Price

  • Sales Price

    $109,900

  • Tax Amount

    $1,350

  • Sq. Footage

    1,043

  • Price/SqFt

    $105

HOA

  • Association

    No

School District

  • Elementary School

    Lee Hamilton Elem.

  • Middle School

    Ferguson Middle

  • High School

    Mccluer High

Property Features

  • New Construction

    NO

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

St. Louis

Elementary School

Lee Hamilton Elem.

Middle School

Ferguson Middle

High School

Mccluer High

Listing Courtesy of Tyson Patrick , Nettwork Global

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Erica Holtschneider

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Investor-ready property in Ferguson! Recent updates [flooring, paint, kitchen/bath, roof/HVAC/water heater — adjust to actuals] mean the heavy lifting is done and big-ticket maintenance is years out. At $1,075/month, property already has a secure tenant. Clean systems, solid bones, easy-to-manage layout — a low-touch addition for the experienced investor who'd rather collect cash flow than chase contractors. Drop it in the portfolio and go.

721 N Elizabeth Avenue

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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 $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-
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