3266 Carnes Road Memphis, Tennessee 38111
A 2 bedroom, 1 bath side by side turnkey duplex on a corner lot
Purchase Price: $84,900
Property Status: Includes Renovation – Included in Price!
TAX APPRAISAL: $59,800 – Needs to be contested IMMEDIATELY!
Closing Costs: $1k (estimated)
Total Monthly Debt Service (Assumes Cash Purchase)
Rent Range: $550/side(rented currently, both sides gross rent of $1100)
City/County Taxes: $78(based on 2013 values)
Less Management (8%): $88
Positive Monthly Cash Flow: $895/month!!!
Cash on Cash Return: 13.28%
Plus instant equity!
This all brick duplex has been renovated and is fully leased, featuring central heat and air and off street parking on both sides. Purchase price includes a new 30 year dimensional roof and a one year home warranty.
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 0r use cash to acquire the property also.
Property is offered completely turnkey, and we have management in place through several proven and reliable, licensed management companies here locally.
Massive cash flow property, with a diverse array of profitable exit strategies.