This home offers easy access to shopping and dining options at the nearby Hickory Ridge Mall. The property is also close to major highways, schools, and just a short drive to Memphis International Airport.
Financial Analysis
– Property Price: $76,000
– Down Payment: $15,200
– Loan Amount: $60,800
– Interest Rate: 6.5%
– Loan Term: 30 years
– Expected Rent: $1,121
– Monthly Mortgage Payment: $384.66
– Management Fee (8%): $89.68
– Annual Taxes: $431
– Annual Insurance: $1,000
– Maintenance (5%): $56.05
– Vacancy Rate (2%): $22.42
– Total Monthly Costs: $671.06
– Monthly Cash Flow: $449.94
– Annual Cash Flow: $5,399.28
– Cash-on-Cash ROI: 35.52%
* This is only a projection. Each investor must do their own due diligence with their own funding sources. We use the standard 20% down payment conventional loan. Interest rates fluctuate and terms differ from lender to lender, so we recommend working with your own professionals to get more accurate numbers based on your investment lending sources.