Tell me about Dutchtown.

[Michael O.]

Hello All,

Just looking for local knowledge here.  I am out of state investor looking a 20 + unit  in dutchtown neighborhood of St. Louis. I tried to google some info on it and it didn't seem that good of a neighborhood, however some of the posts were 3 years back. 

Does anyone have rental property there?

How does it perform?

What sort of tenants do you get there?

My broker told me there is a revitalization project going in that part of town do you see future gains in appreciation?

Thanks,

Michael

[Nicholas Richard Ray]

Just over a month ago I moved into a duplex and have had no issues with the tenant that I inherited so far. I feel I got pretty lucky as they pay on time and I've had no issues with them. Cash flow is negative for me now as the rent just covers my PITI currently, however, when I move on this duplex will cash flow over $150 a door. That said my experience with the tenant pool at large is basically non-existent other than my interactions with neighbors I suppose.

So I may not be the best example but I strive for what @Eric Castelli had said; have nicer units to attract better tenants. I got lucky on the inherited one after a bumpy start with our interactions but moving out myself or if she decides to part ways at the end of the lease I definitely plan on having a high quality unit for a competitive price to get the tenants that I want not necessarily the highest rents.

As far as the revitalization, I don't know how to address that fully yet after living here for just a month, though it is something that I've heard. I haven't seen too much in the way of serious construction or anything in the parts that I normally commute, however, I don't feel unsafe where I live - just an older, low-income area.

Hope this gives you a little insight in some way, shape, or form.