1577 Havana St, Memphis, TN 38106

$57,000

PROPERTY INFORMATION

Type

     Single Family House

Floor Area 

     875 sq ft.

Lot Area

     6,923 sq ft

Bedrooms

     2

Bathrooms

     1

Garage

     N/A

Year Built

     1950

Neighborhood

    Downtown

 

CASH REQUIRED

Down payment (20% of Purchase Price)

     $11,400

Closing Cost (3%)

     $1,710

Cash Needed

      $13,110

Optional

     $500 fee for 50 years roof warranty 

SAMPLE AMORTIZATION COMPUTATION

Purchase Price: $57,000

Down Payment: $11,400

Loan Amount: $45,600

Amortization Period: 30 Years

Loan Interest Rate: 5%

Monthly Mortgage: $244.79

PROPERTY HIGHLIGHTS

  • Fully Renovated House

  • Buy with only 20% down payment

  • 25% First Year Projected Cash on Cash Return

ESTIMATED PROJECTED CORE FINANCIALS

(Year 1)

Monthly Rent: $675

Gross Annual Income: $8,100

Annual Property Tax: $328

Annual Insurance: $540

Vacancy (4.17%): $338

Annual Management: $648

Monthly Mortgage: $245

 

Cap Rate: 11%

Cash on Cash Return: 25.22% 

NOI: $3,306

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