5411 Cessna Rd Memphis TN 38109

$89,000

PROPERTY INFORMATION

Type

     Single Family House

Floor Area 

     1,104 sq ft.

Lot Area

     .32 acres

Bedrooms

     3

Bathrooms

     2

Garage

     N/A

Year Built

     1958

Neighborhood

     White Haven-Coro Lake

 

CASH REQUIRED

Down payment (20% of Purchase Price)

     $17,800

Closing Cost (3%)

     $2,670

Cash Needed

      $20,470

Optional

     $500 fee for 50 years roof warranty 

SAMPLE AMORTIZATION COMPUTATION

Purchase Price: $89,000

Down Payment: $17,800

Loan Amount: $71,200

Amortization Period: 30 Years

Loan Interest Rate: 5.00%

Monthly Mortgage: $388.22

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: $920

Gross Annual Income: $11,040

Annual Property Tax: $731

Annual Insurance: $540

Vacancy (4.17%): $460

Monthly Mortgage: $388.22

Property Management: $885

Cap Rate: 9.45%

Cash on Cash Return: 18.40% 

NOI: $3,765.00

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