Transform this house into your dream home. This property in West Memphis presents an excellent investment opportunity. Purchased for $35,000 with a 7% mortgage interest rate, this property is projected to generate a solid cash on cash return. The property boasts an After Repair Value (ARV) of $123,500.
Property Financial Highlights:
- Purchase Price: $35,000
- ARV (After Repair Value): $123,500
- Monthly Market Rent: $780
- Annual Taxes: $408
- Annual Insurance: $1,000
- Property Management Fee: 8% of monthly rent
Financial Breakdown:
- Monthly Mortgage Payment: $186.09 (calculated based on a 30-year term at 7% interest)
- Monthly Expenses: $365.82 (includes mortgage payment, property management fee, taxes, and insurance)
- Monthly Cash Flow: $414.18
- Annual Cash Flow: $4,970.16
- Total Cash Investment: $7,700 (includes down payment and closing costs)
- Cash on Cash Return: 64.55%
Investing in this property not only promises a significant return but also offers the potential for appreciation and depreciation benefits, making it an excellent addition to your investment portfolio.
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