2733 Shenandoah Ave
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Renovated, leased, and producing income. This Fox Park colonial was fully updated in 2024–2025 — kitchen refresh, bathroom updates, and systems serviced. A buyer steps into a property where the work is done and a qualified tenant is already in place at $1,800/month, with a lease running through September 30, 2027. No renovation risk. No leasing risk. Just ownership.
The $1,800/month rent was independently confirmed by STL Appraisal Group's rent schedule analysis, using three comparable rentals within a half mile — this is not a seller estimate, it is an appraiser-verified market rate. Comparable closed sales in the immediate area ranged from $280,000 to $315,000 in the 12 months prior to the appraisal.
Appreciation story. Fox Park is one of St. Louis City's most consistently appreciating urban neighborhoods — a walkable, amenity-rich corridor with strong professional demand. As the lease rolls in late 2027, a buyer has full flexibility to re-lease at updated market rents or reposition the asset. The hard work is already done; the appreciation upside belongs to the next owner.
| Scenario | Mo. Rent | Annual Gross | Gross Yield | GRM |
|---|---|---|---|---|
| Current Lease (locked) | $1,800 | $21,600 | 7.2% | 13.8× |
| Post-Lease Market | $1,900 | $22,800 | 7.6% | 13.1× |
| Upside (repositioned) | $2,100 | $25,200 | 8.4% | 11.9× |
Gross yield 7.2% on locked rent. Net yield 5.7% after confirmed taxes & insurance. Additional operating expenses at buyer's discretion. Lease locked — no vacancy risk through Sept 2027.
| Address | Sale Date | Sale Price |
|---|---|---|
| 2359 Michigan Ave, 63104 | Oct 2025 | $299,900 |
| 2200 Sidney St, 63104 | Mar 2025 | $280,000 |
| 2619 Iowa Ave, 63118 | Aug 2025 | $315,000 |
Full appraisal report and rent schedule provided to verified buyers upon request.
Photos & documents shared with verified buyers. All properties sold as-is.