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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: $44,900
Property Status: Ready for tenant – Includes All Work
TAX APPRAISAL: $72,700
Closing Costs: $1k (estimated)
Total Monthly Debt Service (Assumes Cash Purchase)
Rent Range: $550 – $695(assumes $600)
City/County Taxes: $109(based on 2012 values) – WILL NEED TO BE CONTESTED IMMEDIATELY!
Less Management (10%): $60
Positive Monthly Cash Flow: $386/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. 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 is offered completely turnkey, using Marathon Management as our management hub. Includes 24 hour access to property statements, rental income, etc., through their online software system.
Link to Marathon’s Management Website can be found HERE:
Massive cash flow property, with a diverse array of profitable exit strategies.
Property taxes are based on $72,700 assessed value, which can be contested to increase cash flow. Square footage is based on Shelby County Tax Assessor’s information. WE RECOMMEND TAX CONTESTING IMMEDIATELY AFTER PURCHASE TO IMPROVE AND MAXIMIZE CASH FLOW.
1 Full / Half