Description
Duplex Conversion - 4 Bedrooms, 2 Bathrooms
Duplex Semi-detached - St. Louis MO
We recently bought this 4BD/2BA duplex in St. Louis from our maintenance man in May for $67,500. The 2nd floor suite was being rented out for $500/month which was well below market rent and the suite on the main floor was vacant and in the process of being rehabbed.
Our initial plan was complete the renovation of the main floor suite and rent it out as soon as the work was done.
After inspecting the property, we realized the basement had a separate entrance and with the addition of another bathroom it could be turned into a large bachelor’s suite for extra rental income.
Purchase Price- $67,500
Rehab Costs- $30,000
ALL IN COST- $97,500
ARV- $152,300 (Estimate from Zillow)
Instant Equity- $54,800
NOI= Income – Expenses
$960/Month
$11,520/YR
Property Features
- Duplex Semi-detached
- 4 bed
- 2 bath
- 2 Parking Spaces
- 2 Garage
