Here is a fully occupied large duplex, each unit a spacious 3-bed/1-bath, producing income from day one at a 14.3% actual cap, with a clear path to a 22.5% pro forma cap as rents move to market. HVAC, water heaters, plumbing, electrical, and flooring were all replaced within the last two years, so your near-term capital expense is minimal. Just reduced to $99,000, you are buying $51,000 under market value. Leadwood sits in St. Francois County's Lead Belt, about an hour south of St. Louis, where steady workforce demand keeps small multifamily cash flowing.
Key Numbers at a Glance:
* Market Value: $150,000
* Current Rent: $1,575/month
* Pro Forma Rent: $2,378/month
* Pro Forma Cap Rate: 22.5%
* Pro Forma NOI: $22,301/yr
* Actual Cap Rate: 14.3%
Property Details:
* Unit Count: 2 units
* Unit Mix: Two 3-bed / 1-bath units
* Occupancy: 100%, both units occupied and producing on day one
* Utilities: Owner pays water/sewer, tenants pay their own electric, separately metered
* Taxes: $555/yr
* Insurance: $200/yr
What Makes This Deal Stand Out:
* Updated mechanicals (seller-reported). HVAC, water heaters, plumbing, electrical, and flooring reported replaced within roughly the last 2 to 4 years, keeping near-term capital expense low. Buyer to verify.
* One unit leased through HUD, giving you government-backed rent on half the building.
* Other unit sits below market at $750 against $825, with built-in upside as it turns.