Rental Property Investor · Saint Louis, MO · Member since 2016 · 162 posts · 53 votes
4957 Mardel Ave, 63109 (4 family) List: $155,900; Income: $2200 (includes units and garage income); one vacant unit. Kitchens are dated. Bathroom in vacant unit needs ceiling work.
3542 S Broadway, 63118 (6 unit; 3 - 1 BR and 3 - 2 BR) List: $285,000; Income: $4090 (if I recall correctly); one vacant unit; lots of space
So everyone knows, I am getting no benefits from this. I'm just sharing with fellow investors. They are properties that I have passed on for one reason or another.
Flipper · Elmhurst, IL · Member since 2011 · 96 posts · 23 votes
10y
Both look like good cash flow properties. Both are listed on MLS. Not sure why they are not moving, maybe because of high crime rate in surrounding area?
Rental Property Investor · Saint Louis, MO · Member since 2016 · 162 posts · 53 votes
10y
That's a good question. The crime rate around Broadway is higher than Mardel. For my liking, the rents seemed to be high on Broadway.
Mardel I think is solid. It just has dated kitchens. Some of the tenants are longer term (more than 4 years), so the income seems steady and reliable. And Mardel has hardwood floors throughout.