Hot Investment Property: 4386 Elysian Dr, Memphis, TN 38128
February 15th, 2012 -- by Chris Peak4386 Elysian Dr, Memphis, TN 38128
Buy Price $62,900
Great investment home in the Raleigh community.
This home has gone through complete cosmetic overhaul including flooring, paint,service plumbing service the HVAC, blinds, rekey locks, etc to put home in a rent ready condition.
Homes are hand-picked to be on the best streets and neighborhoods for cash buyers.
FINANCING SCENARIO
Buy Price $62,900
20% Down Payment (of purchase price) $12,580
Closing Cost $5,500
Commission Differential $0
Renovation Cost $0
Total Money Out of Pocket $18,080
Loan Amount $50,320
Payment PITI + Prop Management $474
Cash Flow Low End Rent Range $326
Cash Flow High End Rent Range $426
Total Equity in Project $4,100
Cash on Cash ROI (If Already Leased) 19.27%
CASH SCENARIO
Buy Price $62,900
Closing Cost $750
Commission Differential $0
Total Money Out of Pocket $63,650
(Payment) Taxes+Insur+Prop Manage $196
Cash Flow Low End Rent Range $604
Cash Flow High End Rent Range $704
Total Equity in Project $4,100
Cash on Cash ROI (If Already Leased) 10.39%
***Note – ROI takes into account, your payment including taxes, insurance, prop management, $750 yr maintenance.
This post was written by
Chris Peak – who has written 3 posts on Enterprise Realtors Blog.
To get started, contact me at 901-282-5445 (cell), 901-867-1000 (office), or cpeak@enterpriserealtors.com.
Tags: Cash flow, Finance, investment property, Property deals in Memphis