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For sale 20 days ago

$297,000

rooms 4+ ba 6648 sqft

5006 & 5008 Cates Ave, St. Louis, MO 63108

Multiple Occupied Off MLS

Current Rent **

$1,500

Projected Rent **

$6,346

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

(๐—ฆ๐˜. ๐—Ÿ๐—ผ๐˜‚๐—ถ๐˜€, ๐— ๐—ข) ๐Ÿšจ ๐—ง๐—ช๐—ข ๐——๐—จ๐—ฃ๐—Ÿ๐—˜๐—ซ ๐—ฃ๐—”๐—–๐—ž๐—”๐—š๐—˜ ๐——๐—˜๐—”๐—Ÿ ๐Ÿšจ ๐—ฆ๐—ฒ๐—ฝ๐—ฎ๐—ฟ๐—ฎ๐˜๐—ฒ๐—น๐˜† ๐— ๐—ฒ๐˜๐—ฒ๐—ฟ๐—ฒ๐—ฑ | ๐—•๐—ฟ๐—ถ๐—ฐ๐—ธ | ๐—›๐—ฉ๐—”๐—– & ๐—ฅ๐—ผ๐—ผ๐—ณ <๐Ÿญ๐Ÿฌ ๐—ฌ๐—ฟ๐˜€ ๐—ข๐—น๐—ฑ | ๐Ÿณ๐Ÿฑ% ๐—ข๐—ฐ๐—ฐ๐˜‚๐—ฝ๐—ถ๐—ฒ๐—ฑ ๐Ÿšจ

ARV: $375,644

Actual Rent: $1,500/month (With 75% Occupancy)

Potential Rent: $6,346/month

DETAILS

Unit Mix:

Duplex 1: Two 2BR/1 Bath Unit

Duplex 2: Two 3BR/2 Bath Unit

Occupancy: 75% Vacant

Utilities: Tenants pay for all utilities except for water and sewer. (Separately Metered)

Roof: <10 Years Old

HVAC: <10 Years Old

Windows: Most have been replaced

Construction: Brick

Taxes: $744

Insurance: $400

Building Square Footage:

5006 Cates Ave - 3,678 Sq Ft

5008 Cates Ave - 2,970 Sq Ft

Utilities: Tenants pay for all utilities except for water and sewer.

Lot Size: 3,183 Sq Ft

Year Built: 1898

More Info: Full Basements and Attached Garages

Rehab Needed: Minimal/Cosmetic & Paint

Units: 4 (2 Duplexes)

Current Rents: $500/Unit. Two units are vacant.

Market Rents: $1,512-$1,661/Unit

Management: Currently self-managed, but excellent local property management company ready to step in and manage this one for the next owner.

Pro Forma CAP Rate: 21.14% (5% Vacancy, Taxes, Insurance, and 10% Prop Management included in Pro Forma Cap and Actuals)

Location:

5006 & 5008 Cates Ave, St. Louis, MO 63108

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.