Great Cash Flow at 20% Returns
Property ID : #214
Price : $99,900
Status : Sold
City : Memphis
Type : Single Family Home
Floors :
Parking/Garage : Garage 1 Car
Bedrooms : 3
Baths : 2
Square Feet : 1,053
Year Built : 1988
Description:
Built in 1988 and completely renovated in 2009, this desirable home is located in Memphis. It features 1,488 sqft of living space with 3 bedrooms and 2 baths. The home comes complete with central heat and air.
The home will be tenanted prior to close under a one year lease with the tenant paying $1,025/month and will be managed by an experienced, professional property management team. The tenant pays all utilities.
The property will be sold completely renovated inside and out including upgrades to:
• Landscaping
• Exterior paint and trim
• New stove
• New carpet
• New light fixtures
• New door hardware, door stops and switch plates
Property Highlights:
- 1 year rent warranty
- 1 year home warranty
- Projected 10.6% first year cash return
- Projected 21% 5 year IRR