Investment Analysis Spreadsheet here:
https://docs.google.com/spreadsheets/d/1NOm60GFQlbOOeXfULvVHbCh94M2cTlAtYHMaTlaljWw/edit?usp=sharing
Investment Opportunity: Turnkey Rental Property in Memphis, TN
Address: 5389 Beaverton Dr, Memphis TN 38127. Across right corner
Price: $145,000
Monthly Rent: $1,500
Cash on cash return 17,07%
Property Overview:
Presenting a remarkable investment opportunity with this fully renovated 3-bedroom, 2-bathroom turnkey rental property located in a vibrant Memphis neighborhood. This property is an ideal choice for investors seeking a reliable and high-yielding asset.
Key Features:
- Fully Renovated: The property has been extensively updated, featuring modern finishes, new flooring, updated kitchen and bathrooms, and contemporary fixtures.
- Spacious and Functional Layout: The home offers a generous floor plan with ample living space, perfect for attracting and retaining quality tenants.
- Turnkey Investment: Currently rented at $1,500 per month, the property provides immediate rental income.
- Low Operating Costs: With annual property taxes of $899, insurance at $950, and an 8% property management fee, operating expenses are kept at a minimum.
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: $18,000
- Net Operating Income (NOI): $14,711
- Annual Cash Flow: $5,444.96
- Cash on Cash Return: 17.07%
- 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 offers a robust investment with a cash on cash return of 17.07% and a total ROI of 33.87% when factoring in appreciation and depreciation. Its turnkey status ensures hassle-free management and a stable income stream. Located in a growing market, the property promises strong rental demand and potential for future appreciation.
Location Highlights:
- Proximity to Amenities: Conveniently situated near schools, shopping centers, and public transportation.
- Growth Area: Memphis is experiencing steady economic growth, enhancing the demand for rental properties.
Don’t miss this excellent investment opportunity. Contact us today to schedule a viewing or for more information.