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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)
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
*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.
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