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3859 Philsdale, Memphis Tennessee 38111
Purchase Price: $39,900
Property Status: Needs Work
AFTER REPAIR VALUE: 50k – 60k(appraisal available upon request)
Work Needed: $Included
Closing Costs: $1k(estimated)
Total Monthly Debt Service(Assumes Cash Purchase)
Rent: $725 – 795(Assumes rent at $750)
City/County Taxes: $100/month(based on 2009 values)
Insurance: $50/month
Less Management:(8%): $60(based on $750/month)
Positive Monthly Cash Flow: $540/month
Does NOT Account For:
Maintenance(10%): $75
Vacancy(10%):$75
Total Net Positive Less Vacancy and Maintenance: $390.00/month
Plus instant equity
Financing(short and long term), property management, insurance, home inspectors, and contractors are available upon request. This property, near The University of Memphis, is nestled on a quiet street with a large, fenced backyard and an excellent, family friendly floor plan. This home features 3bedrooms and 2 baths, a larger home for the area, with lots of usable square footage which appeals to most renting families. An excellent buy – and a GREAT starter investment!
Investor Fundamentals:
This home can also be sold using a lease purchase exit strategy.
Property taxes are based on $66,800 assessed value, which can be contested to increase cash flow.
