3570 Faxon, Memphis, TN 38122
Purchase Price: $72,900
Property Status: Needs Work
TAX APPRAISAL: $49,700
Closing Costs: $1k (estimated)
Total Monthly Debt Service: (Assumes Cash Purchase)
Rent Range: $850 – $950(Assumes $895)
City/County Taxes*: $82/month (based on 2015 values)
Less Management (10%): $89.50/month
Positive Monthly Cash Flow: $682.88
Plus instant equity!
This property in the Berclair neighborhood is an excellent acquisition to any investor’s portfolio who is looking to leverage the low cost of Memphis housing with the high dollar monthly cash flow. Large interior and spacious floor plan coupled with a covered porch and two car detached garage completes the package. Offering a complete renovation package including a new roof and mechanical, this two story home maximizes every foot of space and will sparkle like new when finished.
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
*Property taxes are based on $49,700 assessed value, which can be contested to increase cash flow. Square footage is based on Shelby County Tax Assessor’s information.
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