This home in Memphis presents an excellent investment opportunity. Purchased for $65,000 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 $130,000.
Property Financial Highlights:
- Purchase Price: $65,000
- ARV (After Repair Value): $130,000
- Monthly Market Rent: $1,100
- Annual Taxes: $273
- Annual Insurance: $1,000
- Property Management Fee: 8% of monthly rent
Financial Breakdown:
- Monthly Mortgage Payment: $347.90 (calculated based on a 30-year term at 7% interest)
- Monthly Expenses: $541.98 (includes mortgage payment, property management fee, taxes, and insurance)
- Monthly Cash Flow: $558.02
- Annual Cash Flow: $6,696.24
- Total Cash Investment: $14,300 (includes down payment and closing costs)
- Cash on Cash Return: 46.83%
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 for more info and schedule a visit at 901 443 4660