This updated home in West Memphis presents an excellent investment opportunity. Purchased for $140,000 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 $245,809.
Property Financial Highlights:
- Purchase Price: $140,000
- ARV (After Repair Value): $245,809
- Monthly Market Rent: $1,450
- Annual Taxes: $887
- Annual Insurance: $1,000
- Property Management Fee: 8% of monthly rent
Financial Breakdown:
- Monthly Mortgage Payment: $745.98 (calculated based on a 30-year term at 7% interest)
- Monthly Expenses: $1,019.23 (includes mortgage payment, property management fee, taxes, and insurance)
- Monthly Cash Flow: $430.77
- Annual Cash Flow: $5,169.24
- Total Cash Investment: $30,800 (includes down payment and closing costs)
- Cash on Cash Return: 16.78%
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.
Contact us to receive more information about it 901-443-4660