1400 Quinby Dr, Memphis, TN 38127

$77,000

PROPERTY INFORMATION

Type

     Single Family House

Floor Area 

     1000 sq ft.

Lot Area

     17,772 sq ft

Bedrooms

     3

Bathrooms

     1

Garage

     1

Year Built

     1948

Neighborhood

    Shelby Forest-Frayser

 

CASH REQUIRED

Down payment (20% of Purchase Price)

     $15,400

Closing Cost (3%)

     $2,310

Cash Needed

      $17,710

Optional

     $500 fee for 50 years roof warranty 

SAMPLE AMORTIZATION COMPUTATION

Purchase Price: $77,000

Down Payment: $15,400

Loan Amount: $61,600

Amortization Period: 30 Years

Loan Interest Rate: 5%

Monthly Mortgage: $330.68

PROPERTY HIGHLIGHTS

  • Fully Renovated House

  • Buy with only 20% down payment

  • 24.65% First Year Projected Cash on Cash Return

  • 34.14% First Year Projected ROI

ESTIMATED PROJECTED CORE FINANCIALS

(Year 1)

Monthly Rent: $800

Gross Annual Income: $9,600

Annual Property Tax: $325

Annual Insurance: $540

Vacancy (4.17%): $400

Monthly Mortgage: $330.68

 

Cap Rate: 10.82%

Cash on Cash Return: 24.65%

ROI: 34.14%

NOI: $4,366.84

*ROI with appreciation and loan down payment

Your Home 901 is not just a Turnkey real estate business. We have the heart for the Memphis community. Partnering with us will not only provide you financial success but also a legacy of providing an opportunity for the Memphis community. 

CONTACT US

+1 901 308 2815

6047 Executive Centre Dr. Suite 3

Memphis, TN - 38134

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