4215 Boyce Street Memphis, Tennessee 38111
A 3 bedroom, 1 bath brick home
Purchase Price: $62,900
Property Status: Needs Renovation – Included in Price!
TAX APPRAISAL: $38,600 – Needs to be contested IMMEDIATELY!
Closing Costs: $1k (estimated)
Total Monthly Debt Service (Assumes Cash Purchase)
Rent Range: $750 – $850(assumes $795)
City/County Taxes: $58(based on 2012 values)
Insurance: $45
Less Management (10%): $79.50
Positive Monthly Cash Flow: $612.47/month!!!
Plus instant equity!
A fantastic investment opportunity located in Cherry Gardens. We have had tremendous success with this area of Memphis, the neighborhood showcases a great pride of ownership and ease of rentability. Coupled with our custom renovation the savvy investor is getting a strong investment yield and potential long term upside assuming market correction occurs.
Renovations include, but are not limited to, a new architectural roof, interior paint, refinishing of the floors/installing new flooring, installing new vinyl siding, ceramic tile(in 14 x 14) for the kitchens and baths, and much more! Property has adorable curb appeal and will rent quickly. No maintenance vinyl siding will keep maintenance costs low.
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 – 10 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.
Investor Fundamentals:
Property taxes are based on $38,600 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.
