914 Craft Rd Memphis TN 38118

$115,000

PROPERTY INFORMATION

Type

     Single Family House

Floor Area 

     1,579 sq ft.

Lot Area

     .57 acres

Bedrooms

     4

Bathrooms

     2

Garage

     N/A

Year Built

     1946

Neighborhood

     Interurban Heights

 

CASH REQUIRED

Down payment (20% of Purchase Price)

     $25,000

Closing Cost (6%)

     $6,900

Cash Needed

      $29,900

Optional

     $500 fee for 50 years roof warranty 

SAMPLE AMORTIZATION COMPUTATION

Purchase Price: $115,000

Down Payment: $23,000

Loan Amount: $92,000

Amortization Period: 30 Years

Loan Interest Rate: 4.50%

Monthly Mortgage: $466.15

PROPERTY HIGHLIGHTS

  • Fully Renovated House

  • Buy with only 20% down payment

  • 15.33% First Year Projected Cash on Cash Return

ESTIMATED PROJECTED CORE FINANCIALS

(Year 1)

Monthly Rent: $1,090

Gross Annual Income: $13,080

Annual Property Tax: $496

Annual Insurance: $540

Vacancy (4.17%): $546

Monthly Mortgage: $466

Maintenance Reserve: $276

Property Management: $1047

Cap Rate: 9.13%

Cash on Cash Return: 15.33% 

NOI: $4,583

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