7 Home SFR Investment Portfolio St. Louis MO
7 Home SFR Investment Portfolio, Saint Louis, Missouri 63138
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This 7 home SFR investment portfolio opportunity located in St. Louis, Missouri offers an investor immediate cash flow in this growing market. 2 of the 7 Homes are in the 63138-zip code near the Spanish Lake neighborhood that has an average rent of $1,033 which is higher than the current rent. The average rental cost in this neighborhood is higher than 62.0% of the neighborhoods in Missouri. The other 2 of the 7 are in the 63135-zip code near Ferguson. The average rental price in the Ferguson area is currently $1,025, based on Neighborhood Scout’s exclusive analysis and also higher than the current rents.
The average rental cost in this neighborhood is higher than 60.5% of the neighborhoods in Missouri. The median real estate price in the City Center of Ferguson is $74,070 which is quite a bit higher than this current portfolio, offering an excellent value for an investor. The final 3 homes are in the 63136-zip code near Jennings. The average rental price in Jennings City Center is currently $1,162, based on Neighborhood Scout’s exclusive analysis and also higher than the current rents. The average rental cost in this neighborhood is higher than 76.4% of the neighborhoods in Missouri. The median real estate price in the City Center of Jennings is $54,370 which is quite a bit higher than the current portfolio, also offering an excellent value to investors.
The average vintage of homes in this portfolio is 1958 offering an average square footage of 905 per home. This portfolio consists of 2 - 2 bed / 1 bath homes and 5 - 3 bed / 1 & 2 bath homes. These floor plans range from 864-1,064 livable square feet, averaging 905 square feet in total. Rental rates throughout the portfolio are roughly 6% below area market rates and 28% below neighborhood average rents, which are continuing to climb in this submarket and will continue bringing increased cash flow to investors bottom line over the next few years.
St. Louis is a large city located in the state of Missouri. In 2017, the population estimate for the city was 308,626 residents. The St. Louis metro encompasses the city of St. Louis and includes parts of both Missouri and Illinois. The city core is on the border with Illinois and has nearly 3 million residents. The area is estimated to have nearly 80,000 residents through 2021, which will result in the formation of approximately 40,000 households. St Louis follows a steady growth path as vacancy declines and rents rise, leading for a bright outlook for the metro.
The cause of these increments is the fact that there are so many renovation projects and new retail companies settling into St. Louis, one of the largest retailers is IKEA. Opened late in 2015, the store is reportedly already hitting their $100 million sales goal. The IKEA project injected $110,000,000 into the area.
Another firm, the Cortex, has continued to be a direct link to drive direct investment from groups across the US. The firm is a huge collaboration of Washington University, BJC Healthcare, and Saint Louis University, which has created over 4,000 high-paying jobs. The city is highly ranked for its logistics, hoisted by its central geographic location and easy access to major waterways as well as being a significant inland port. Not only are the logistics impressive, but the region is also emerging as a huge financial service center, as Jones Financial is locally headquartered and Reinsurance Group-America is a significant employer.
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- Median real estate prices in these neighborhoods are less than 95.6% of all US neighborhoods.
- Strong 15.86% Projected Cap Rate.
- Current Gross Yield of 23.31% and Leveraged Cash on Cash 36.97%.
- Rental rates throughout the portfolio are roughly 6% below current market rates per home.
- Rental rates throughout the portfolio are roughly 28% below neighborhood average rents.
- Price per sqft for this portfolio is $44 compared to the area median price of $71 sqft.
- St Louis home prices are up a little over 5% and the supply is still slightly up over 2017.
12/27/2018 5:39:15 PM
3/14/2019 4:16:05 PM