Free PM for 1 year!
Memphis, TN 38127
3 bdrm/ 1 bath - Built in 1973
| Square Feet | 1,000 | | Initial Market Value | $117,900 | | Purchase Price | $117,900 | | Downpayment | $29,475 | | Loan Origination Fees | $1,990 | | Depreciable Closing Costs | $354 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $31,818 | | Cost per Square Foot | $118 | | Monthly Rent per Square Foot | $1.20 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,200 | $14,400 | | Vacancy Losses | ($96) | ($1,152) | | Operating Income | $1,104 | $13,248 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($59) | ($707) | | Insurance | ($49) | ($590) | | Management Fees | $0 | $0 | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($96) | ($1,152) | | Other | $0 | $0 | | Operating Expenses | ($204) | ($2,449) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $900 | $10,799 | | - Mortgage Payments | ($588) | ($7,052) | | = Cash Flow | $312 | $3,747 | | + Principal Reduction | $75 | $900 | | + First-Year Appreciation | $590 | $7,074 | | = Gross Equity Income | $977 | $11,721 | | + Tax Savings | $0 | $0 | | = GEI w/Tax Savings | $977 | $11,721 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $88,425 | $0 | | Monthly Payment | $587.70 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 6.990% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.53 | | Annual Gross Rent Multiplier | 8 | | Monthly Gross Rent Multiplier | 98 | | Capitalization Rate | 9.2% | | Cash on Cash Return | 12% | | Total Return on Investment | 37% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions | |
|---|
| Real Estate Appreciation Rate | 6% | | Vacancy Rate | 8% | | Management Fee | 0% | | Maintenance Percentage | 8% |
| Comments |
|---|
| New roof, fully renovated kitchen & bath, updated hvac, new flooring though out, new hwt, new paint, Passed Memphis City electrical & gas Inspc. |
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
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