St. Louis is often referred to as the Gateway to the West, and just like the West, it holds a lot of untold treasures. For real estate investors and home buyers, this is a city full of potential, where you can find good deals and make significant profits, provided you have the right information. In this article, we’ll reveal five surprising facts about St. Louis City real estate and how to be a savvy buyer.
1. St. Louis Has One of the Highest Return on Investment (ROI) Rates in Real Estate
St. Louis is one of the most underrated cities in terms of investment potential. According to a study by Clever, St. Louis ranked as the sixth-highest in the nation for return on investment (ROI) for real estate agents. The average ROI for real estate agents in St. Louis is 46.5%, meaning that for every $100,000 invested, investors can expect a return of $146,500. This makes St. Louis an excellent destination for real estate investors.
2. You Can Find Affordable Properties in the Best Neighborhoods
In St. Louis, you can find affordable properties in the best neighborhoods. According to a report by Forbes, some of the most affordable neighborhoods to buy a home in St. Louis include Holly Hills, Benton Park West, and Carondelet. These neighborhoods have high potential for return on investment, making them a smart choice for real estate investors.
3. The City is Revitalizing its Downtown Neighborhoods
Downtown St. Louis is experiencing a revitalization, thanks to numerous development initiatives. The city has invested heavily in redeveloping the Downtown area, and revitalizing neighborhoods like Downtown West, Downtown East, and the rapidly-growing Gateway Mall area. As a result, these downtown neighborhoods are becoming more desirable for homebuyers and renters.
4. St. Louis Offers Several Incentives for Real Estate Investors
St. Louis offers a range of incentives for investors who want to develop or invest in the city. For example, there are tax abatement programs, as well as loan guarantee programs and grants available for real estate investors. The city is also home to several organizations that provide resources and support for real estate investors, such as the Land Reutilization Authority, the St. Louis Development Corporation, and the St. Louis Economic Development Partnership.
5. The City is Home to Some of the Best Architecture in the Country
St. Louis is renowned for its historic architecture, which spans numerous periods. The city is home to several architectural landmarks, including the Gateway Arch, Union Station, and the Wainwright Building, which is considered one of the finest examples of early skyscraper architecture in the world. This makes St. Louis a great destination for anyone interested in history and architecture.
In Conclusion
St. Louis’s real estate market holds lots of possibilities for investors, home buyers, and tenants. By keeping these surprising facts in mind, you’ll have a head start over other investors and buyers. Remember to research further and work with reputable real estate professionals to take full advantage of the opportunities available in St. Louis real estate market.
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