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New investment property for sale in Memphis!


3368 Guernsey Ave

Memphis, TN  38122

 

  • Purchase Price:                            $53,000                                                 
  • Current Market Value:              $55,000-$60,000                
  • Current Market Rent:                $667.00                                   
  • Property Taxes for City:            $241.27                             
  • Property Taxes for County:      $303.11                          

                                                                       

Monthly Cash Flow Breakdown:  

  • Principle & Interest:                            $230.00  (based on 20% down, 4.75% Rate, 30 Year term)     
  • Taxes Monthly:                                      $45.37  
  • Insurance Estimated Monthly:         $40.00
  • Property Management 8%:                $53.36

MONTHLY CASHFLOW:  $298.27

 

This property is a 3 bedroom and 1 full bathroom home.  It is approximately 1200 square feet.  This property is in a great rental area. It has quick access to the highway for tenant convenience when traveling to work or other areas of the city.  Currently occupied by very stable and long term tenant.  Tenant moved in February 2018.

 

 Home has been recently renovated and updated and features the following updates:

  • New roof 2017                                            
  • Interior and Exterior painted 2017 
  • New flooring throughout 
  • New sliding glass door
  • New Fans in LR and Bedrooms
  • All new lights throughout
  • All new kitchen cabinets
  • New Security door
  • Two new A/C window units complete with security cages
  • Brand New Furnace
  • Large Yard
  • Extensive updated plumbing
  • Electrical work completed
  • New Hotwater Heater

*Homes purchased through Advantage Property Management will receive an 8% property management fee for the purchased property, instead of the standard 10%.

 

 

Posted by: Matt on March 7, 2018
Posted in: Uncategorized