House Hack on Cherokee st

[Nathan Dehn]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in St. Louis.

Purchase price: $228,000
Cash invested: $10,000

We closed on this duplex 1 week after getting married. it's on a cute commercial strip in the city with coffee shops, antique stores, and restaurants. Perfect for a short term rental. We moved into the lower unit studio. Then, a year later converted the studio to a short term rental and moved upstairs.
Now, we rent the upper unit for $1500/mo and after all expenses our airbnb nets $1000/mo. While our mortgage is only $1250/mo after a refi 2 years later, increasing our equity from 3.5% to over 30%.