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840 North Watkins, Memphis, TN 38119
840 North Watkins Memphis, Tennessee 38107
A 2 bedroom, 1 bath brick home
Purchase Price: $59,900
Property Status: Ready for tenant – Includes All Work
TAX APPRAISAL: $56,700
Closing Costs: $1k (estimated)
Total Monthly Debt Service (Assumes Cash Purchase)
Rent Range: $625 – $750(assumes $695)
City/County Taxes: $109(based on 2016 values) –
Less Management (10%): $60
Positive Monthly Cash Flow: $486/month!!!
Plus instant equity!
Many people are looking to begin with their first Memphis starter home, specifically for building a cash flow, real estate investing portfolio. This is a perfect addition to their collection, whether it is their first property or their 100th. Great main street location, right in midtown – in the heart of the Sears Crosstown renovation.
Old world charm with a new world price!
This property qualifies for Robert Feol’s Short Term Retirement Program – a simple, non qualifying permanent lending program where you bring 50% of the purchase price as a down payment, and we will finance the rest over a 5 or 7 year period. All Short Term Retirement loans feature a fixed rate and full amortization, meaning after 5 – 7 years you own your investment home free and clear, without any lien on it.
You can also purchase using private hard money or use cash to acquire the property also.
*Property taxes are based on $56,700 assessed value, which can be contested to increase cash flow. Square footage is based on Shelby County Tax Assessor’s information.
Ways to Buy:
1) As – Is Sale: You purchase a property from us and handle any remaining renovation yourself. You can also buy turnkey homes from us that are rented and ready for delivery under our ‘As Is’ terms. A great way to get going with cashflow already in place!
2) Presale Property(Under Construction): You can elect to purchase a turnkey property from us that is under construction which will be ready for a tenant shortly. You have the option of closing the property prior to the completion of construction, and you can also hold the property until construction is complete with a deposit of nonrefundable earnest money. Either way, find a house you like and purchase the way you want!
3) Presale Property(Anticipated Delivery From Bank): Discount Property Warehouse often sources homes from large bank inventories which fit the needs of specific investors. Once we have sourced a property for you, you can hold it with earnest money until it is ready to be delivered. This way you get EXACTLY what you want without having to wait for your order to be fulfilled months from now, and we can expedite the construction and closing as per your instructions. You can also take advantage of our Silver, Gold, and Platinum package delivery options – ask your Sales rep for details!
1 Full / Half