This house in Memphis offers a fantastic investment opportunity. Purchased for just $20,000 with a 7% mortgage interest rate, this property is projected to generate a robust cash-on-cash return. With an additional $45,000 invested in renovations, the property boasts an After Repair Value (ARV) of $84,000.
Property Financial Highlights:
- Purchase Price: $20,000
- Renovation Cost: $45,000
- ARV (After Repair Value): $84,000
- Monthly Market Rent: $800
- Annual Taxes: $393
- Annual Insurance: $1,000
- Property Management Fee: 8% of monthly rent
Financial Breakdown:
- Monthly Mortgage Payment: $106.45 (calculated based on a 30-year term at 7% interest)
- Monthly Expenses: $286.53 (includes mortgage payment, property management fee, taxes, and insurance)
- Monthly Cash Flow: $513.47
- Annual Cash Flow: $6,161.62
- Total Cash Investment: $49,400 (includes down payment, closing costs, and renovation)
- Cash on Cash Return: 12.47%
Investing in this property promises a significant return and offers the potential for appreciation and depreciation benefits, making it an excellent addition to your investment portfolio.
To schedule a tour of the property or to get more information, call us at 901-808-8448
You may also send us an email at sales@usadiscountproperties.com