Renovated Memphis Home
Memphis, TN 38128
3 bedroom 1.5 bath turnkey property
Square Feet | 1,120 | Initial Market Value | $85,000 | Purchase Price | $85,000 | Downpayment | $21,250 | Loan Origination Fees | $1,434 | Depreciable Closing Costs | $4,250 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $26,934 | Cost per Square Foot | $76 | Monthly Rent per Square Foot | $0.73 |
Income | Monthly | Annual |
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Gross Rent | $813 | $9,756 | Vacancy Losses | ($49) | ($585) | Operating Income | $764 | $9,171 |
Expenses | Monthly | Annual |
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Property Taxes | ($79) | ($952) | Insurance | ($50) | ($604) | Management Fees | ($61) | ($734) | Leasing/Advertising Fees | $0 | $0 | Association Fees | $0 | $0 | Maintenance | ($49) | ($585) | Other | $0 | $0 | Operating Expenses | ($240) | ($2,875) |
Net Performance | Monthly | Annual |
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Net Operating Income | $525 | $6,296 | - Mortgage Payments | ($424) | ($5,084) | = Cash Flow | $101 | $1,212 | + Principal Reduction | $54 | $649 | + First-Year Appreciation | $425 | $5,100 | = Gross Equity Income | $580 | $6,961 | + Tax Savings | $22 | $263 | = GEI w/Tax Savings | $602 | $7,224 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 75% | 0% | Loan Amount | $63,750 | $0 | Monthly Payment | $423.70 | $0.00 | Loan Type | Amortizing Fixed | | Term | 30 Years | | Interest Rate | 6.990% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
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Debt Coverage Ratio | 1.24 | Annual Gross Rent Multiplier | 9 | Monthly Gross Rent Multiplier | 105 | Capitalization Rate | 7.4% | Cash on Cash Return | 4% | Total Return on Investment | 26% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 6% | Management Fee | 8% | Maintenance Percentage | 6% | *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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