3154 University St. Memphis, TN 38127 For Sale

  • $145,000
  • 3 beds
  • 2 baths
  • 1219 sqft

Check out the investment analysis here.


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Investment Opportunity: Fully Renovated 3-Bedroom Home in Memphis, TN

Address: 3154 University St, Memphis, TN 38127
Price: $145,000
Monthly Rent: $1,450

Property Overview:

Seize this exceptional investment opportunity with a fully renovated 3-bedroom, 2-bathroom home located in a desirable Memphis neighborhood. This property offers a blend of modern updates and classic charm, making it a prime candidate for both long-term rental income and future appreciation.

Key Features:

  • Fully Renovated: This property has been meticulously updated, featuring new flooring, fresh paint, modern fixtures, and an upgraded kitchen with stainless steel appliances.
  • Spacious Layout: The home boasts a generous floor plan with ample living space, including a large living room, dining area, and well-appointed bedrooms.
  • Turnkey Investment: Currently rented at $1,450 per month, this property generates a steady income stream from day one.
  • Low Operating Costs: With annual property taxes of $899 and insurance at $950, along with an 8% property management fee, the operational expenses are manageable and predictable.

Financial Highlights:

  • Purchase Price: $145,000
  • Down Payment (20%): $29,000
  • Loan Amount: $116,000 at 7% interest
  • Monthly Mortgage Payment: $772.17
  • Annual Gross Rent Income: $17,400
  • Net Operating Income (NOI): $14,159
  • Annual Cash Flow: $4,892.96
  • Cash on Cash Return: 15.34%
  • Appreciation Potential: With an estimated annual appreciation rate of 3%, the property is expected to appreciate by $4,350 annually.
  • Tax Benefits: Enjoy an annual depreciation deduction of $4,218.18, resulting in tax savings of approximately $1,012.36 per year.

Investment Summary:

This property presents a robust investment with a cash on cash return of 15.34% and a total ROI of 32.14% when factoring in appreciation and depreciation. Its turnkey status, combined with a strong rental market in Memphis, ensures consistent rental income and potential for capital appreciation. Ideal for investors seeking a reliable, income-producing asset in a thriving market.

Location Highlights:

  • Proximity to Amenities: Conveniently located near schools, shopping centers, and public transportation.
  • Growth Area: Memphis is experiencing steady economic growth, with increasing demand for rental properties.

Don’t miss out on this lucrative investment opportunity. Contact us today to schedule a viewing or for more information.

3154 University St.
Memphis, TN 38127
Square Feet:
Lot Size:
For Sale
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Year Built:
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Call (901) 443-4660 for more details

Property Location

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