Renovated Rental Portfolio
675 Cedar Street, Saint Joseph, MO
14.02% return
LP:
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Property Description

Single family and multi family homes rental portfolio! Simply purchase this turnkey package and start collecting rental income. 12-14%+ net return on investment. Potential to earn $300,000+ in appreciation. Total of 40 renovated units consisting of mostly single family homes. Units have stainless steel appliances, new electric, new plumbing, new roofs, new windows, etc. No deferred maintenance needed. Low operating expenses. Tons of potential to appreciate. Local property management is available. Easy to manage. Great residents. Hard money financing is available.

Property Information

  • Listing statusCancelled
  • Property typeMulti Family
  • Total units40
  • Total bedrooms0
  • Total bathrooms0
  • Building size34768 sq. ft.
  • Lot size5.2 acres
  • Year built(unknown)
  • CountyBuchanan County
  • Subdivision
  • ConstructionFrame
  • Roof(unknown)
  • Water sourceCity
  • Water disposalSewer
  • Heating(unknown)
  • Cooling(unknown)

Property Financial Summary

  • Asking price $1,600,000
  • Estimated rehab 1 $0
  • Total investment $1,600,000
  • Type Proforma
  • Gross income (annually) $277,524
  • Operating expenses (annually) $53,136
  • Net income (annually) $224,388
  • Gross return 17.35%
  • Gross income (monthly) $23,127
  • Operating expenses (monthly) $4,428
  • Net income (monthly) $18,699
  • Net return 14.02%

Property Income & Expenses

  • Income
  • Unit 1: bed / bath $500/month
  • Unit 10: bed / bath $700/month
  • Unit 11: bed / bath $500/month
  • Unit 12: bed / bath $650/month
  • Unit 13: bed / bath $425/month
  • Unit 14: bed / bath $750/month
  • Unit 15: bed / bath $400/month
  • Unit 16: bed / bath $400/month
  • Unit 17: bed / bath $500/month
  • Unit 18: bed / bath $550/month
  • Unit 19: bed / bath $660/month
  • Unit 2: bed / bath $750/month
  • Unit 20: bed / bath $650/month
  • Unit 21: bed / bath $650/month
  • Unit 22: bed / bath $550/month
  • Unit 23: bed / bath $695/month
  • Unit 24: bed / bath $450/month
  • Unit 25: bed / bath $450/month
  • Unit 26: bed / bath $325/month
  • Unit 27: bed / bath $475/month
  • Unit 28: bed / bath $750/month
  • Unit 29: bed / bath $650/month
  • Unit 3: bed / bath $700/month
  • Unit 30: bed / bath $650/month
  • Unit 31: bed / bath $600/month
  • Unit 32: bed / bath $550/month
  • Unit 33: bed / bath $650/month
  • Unit 34: bed / bath $550/month
  • Unit 35: bed / bath $600/month
  • Unit 36: bed / bath $600/month
  • Unit 37: bed / bath $500/month
  • Unit 38: bed / bath $450/month
  • Unit 39: bed / bath $400/month
  • Unit 4: bed / bath $785/month
  • Unit 40: bed / bath $650/month
  • Unit 5: bed / bath $500/month
  • Unit 6: bed / bath $600/month
  • Unit 7: bed / bath $662/month
  • Unit 8: bed / bath $600/month
  • Unit 9: bed / bath $650/month
  • Total $23,127/month
  • Expenses
  • Property Taxes $928/month
  • Insurance $1,500/month
  • Maintenance reserve $2,000/month
  • Total $4,428/month

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for the this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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