1400 Quinby Dr, Memphis, TN 38127

$78,000

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)

     $15,600

Closing Cost (3%)

     $2,340

Cash Needed

      $17,940

Optional

     $500 fee for 50 years roof warranty 

SAMPLE AMORTIZATION COMPUTATION

Purchase Price: $78,000

Down Payment: $15,600

Loan Amount: $62,400

Amortization Period: 30 Years

Loan Interest Rate: 5%

Monthly Mortgage: $334.98

PROPERTY HIGHLIGHTS

  • Fully Renovated House

  • Buy with only 20% down payment

  • 20.50% First Year Projected Cash on Cash Return

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

Annual Management: 648

Monthly Mortgage: $335

 

Cap Rate: 10%

Cash on Cash Return: 20.44% 

NOI: $3,667

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