3900 Vernon, Memphis, TN 38122
Purchase Price: $59,900
Property Status: Turnkey, Needs Cosmetic Work(Included in Price) – Currently Rented
TAX APPRAISAL: $35,700
Closing Costs: $1k (estimated)
Total Monthly Debt Service: (Assumes Cash Purchase)
Rent Range: $695 – $795(Assumes $795)
City/County Taxes*: $54/month (based on 2016 values)
Less Management (10%): $79.50/month
Positive Monthly Cash Flow: $621.83/month
Plus instant equity!
Awesome area of Berclair. This home, has partially undergone an extensive rehab, and with some finishing touches, it will be ready for a renter: an accommodating rental home – perfect for the most discriminating investor. On a quiet cross street and a short drive to shopping, schools, and interstate. Also features a fenced in back yard.
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 – 10 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, producing unencumbered cash flow every month – for the rest of your life!
Financing (short and long term), property management, insurance, home inspectors, and contractors are available upon request
*Property taxes are based on $35,700 assessed value, which can be contested to increase cash flow. Square footage is based on Shelby County Tax Assessor’s information.
1) As – Is Sale: You purchase a property from us and handle any remaining renovation yourself. You can also buy turnkey homes from us that are rented and ready for delivery under our ‘As Is’ terms. A great way to get going with cashflow already in place!
2) Presale Property(Under Construction): You can elect to purchase a turnkey property from us that is under construction which will be ready for a tenant shortly. You have the option of closing the property prior to the completion of construction, and you can also hold the property until construction is complete with a deposit of nonrefundable earnest money. Either way, find a house you like and purchase the way you want!
3) Presale Property(Anticipated Delivery From Bank): Discount Property Warehouse often sources homes from large bank inventories which fit the needs of specific investors. Once we have sourced a property for you, you can hold it with earnest money until it is ready to be delivered. This way you get EXACTLY what you want without having to wait for your order to be fulfilled months from now, and we can expedite the construction and closing as per your instructions. You can also take advantage of our Silver, Gold, and Platinum package delivery options – ask your Sales rep for details!
1 Full / Half