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$115,000 Pending

1224 Reale Avenue, Unincorporated, MO, 63138

3 bd | 1 ba | 864 sq ft | Ranch
Subdivision: Northdale
Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance. The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready, the portfolio offers a strong mix of in-place income with immediate lease-up upside. Current gross rental income is approximately $11,519/month, with four vacant homes fully rent-ready and actively being leased. Seller anticipates at least two additional homes leased prior to closing, increasing in-place income to approximately $14,100/month. Fully stabilized pro-forma gross rental income is projected at approximately $16,700/month, with estimated annual operating expenses of approximately $53,000 and projected stabilized NOI of approximately $147,000/year. At the $1,350,000 asking price, the portfolio offers a projected stabilized cap rate approaching 10.9%. An excellent opportunity for investors seeking immediate scale, efficient scattered-site operations, dependable rental demand, and value-add upside through lease-up of rent-ready homes.

Status: Pending · MLS# 26041460 · Listing Courtesy of Invest St. Louis, [email protected]

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Facts and features

List Price

$ 115,000

Status

Pending

Days on market

0

MLS#

26041460

Bedrooms

3

Full baths

1

Sq. Ft. Above

864

Subdivision

Northdale

Municipality

Unincorporated

School District

Hazelwood

County

St Louis

Property Type

Residential

Style

Ranch

Type

Residential

Additional Information

Property Tax (2025)

$1,538

Recent Nearby Sales in 63138

Last 6 closed homes in this zip.

Address Bd/Ba SqFt List Sold Closed
1114 Northdale Avenue, Unincorporated, MO 63138 3/3 1,266 $150,000 $150,000
100% of ask
Nov 10, 2026
1165 June Avenue, Unincorporated, MO 63138 3/1 936 $119,900 $112,450
93.8% of ask
Nov 9, 2026
11926 Rio Grande Drive, Unincorporated, MO 63138 3/2 1,040 $89,900 $81,917
91.1% of ask
Nov 6, 2026
1315 Red River Drive, Unincorporated, MO 63138 4/2 1,600 $144,900 $144,000
99.4% of ask
Nov 6, 2026
1065 Briarbrae Drive, Unincorporated, MO 63138 4/4 1,728 $149,900 $152,500
101.7% of ask
Nov 4, 2026
12095 Trampe Heights Lane, Unincorporated, MO 63138 2/3 1,140 $128,000 $118,000
92.2% of ask
Oct 30, 2026

Price & Listing History

Listed for sale at $115,000
Jul 3, 2026
Current status: Pending
As of Oct 29, 2026 · $115,000

Every time this home was on the market

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Most MLS-recorded sales near this home

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