1883 Cedarhurst Ave, Memphis TN 38127

$66,000

PROPERTY INFORMATION

Type

     Single Family House

Floor Area 

     768 sq ft.

Lot Area

     8,799 sq ft.

Bedrooms

     2

Bathrooms

     1

Garage

     Carport

Year Built

     1931

Neighborhood

     Shelby Forst-Frayser 

 

CASH REQUIRED

Down payment (20% of Purchase Price)

     $13,200

Closing Cost (3%)

     $1,980

Cash Needed

      $15,180

Optional

     $500 fee for 50 years roof warranty 

SAMPLE AMORTIZATION COMPUTATION

Purchase Price: $66,000

Down Payment: $13,200

Loan Amount: $52,800

Amortization Period: 30 Years

Loan Interest Rate: 5.00%

Monthly Mortgage: $283.44

PROPERTY HIGHLIGHTS

  • Fully Renovated House

  • Buy with only 20% down payment

  • 18.40% First Year Projected Cash on Cash Return

ESTIMATED PROJECTED CORE FINANCIALS

(Year 1)

Monthly Rent: $685

Gross Annual Income: $8,220

Annual Property Tax: $415

Annual Insurance: $610

Vacancy (4.17%): $343

Monthly Mortgage: $283.44

Property Management: $658

Cap Rate: 10.30%

Cash on Cash Return: 18.40% 

NOI: $2,793.00

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