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Adorable Brick Home in North Memphis!

Property Offered at: $57,900 - In a Quiet Cove With Tons of Charm!!!

1851 Leyton Cove, Memphis, TN 38127

Purchase Price: $57,900
Property Status: Needs Work – Included in Price

TAX APPRAISAL: $61,000

Closing Costs: $1k (estimated)

Total Monthly Debt Service: (Assumes Cash Purchase)

Rent Range: $$650 – $850(Assumes $750)

City/County Taxes*: $94/month (based on 2015 values)
Insurance: $40
Less Management (10%): $75/month

Positive Monthly Cash Flow: $540.70

Plus instant equity!

Featuring a wetbar, fireplace, and back deck(plus covered parking), this property is a workhorse for the ages – ready to have a good tenant stay, and pay for a long time!  Offering a complete renovation package including a new roof and mechanical, this property in a quiet cover will sparkle like new when the work is completed!

This property qualifies for Robert Feol’s Short Term Retirement Program – a simple, non qualifying permanent lending program where you bring 30% – 50% of the purchase price as a down payment, and we will finance the rest over a 5 year period. All Short Term Retirement loans feature a fixed rate and full amortization, meaning after 5 years you own your investment home free and clear, without any lien on it.

Financing (short and long term), property management, insurance, home inspectors, and contractors are available upon request

Investor Fundamentals:

*Property taxes are based on $61,000 assessed value, which can be contested to increase cash flow. Square footage is based on Shelby County Tax Assessor’s information.

Property Details:

Sq/Ft Total

1556

Bathrooms

1 Full / Half

Bedrooms

3

Garage Spaces

2

Finacial Details:

Property Status

Sold