3734 Fairoaks Memphis, Tennessee 38122
Purchase Price: $44,900
Property Status: Includes Repairs (included in purchase price)
TAX APPRAISAL: $73,800
Closing Costs: $1k (estimated)
Total Monthly Debt Service (Assumes Cash Purchase)
Market Rent: $750/month
City/County Taxes Monthly: $111 (based on 2009 values)
Insurance: $42/month
Less Management (8%): $60/month
Positive Monthly Cash Flow: $537/month
Does NOT Account For:
Maintenance (10%): $75.00
Vacancy(10%): $75.00
Total Net Positive Less Vacancy and Maintenance: $387/month
Plus instant equity!
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.
Investor Fundamentals:
Property taxes are based on $73,800 assessed value, which can be contested to increase cash flow. Square footage is based on Shelby County Tax Assessor’s information.
