Browse Properties
Moderate Reno in Memphis
Memphis, TN 38115
Moderate Reno in Memphis
Memphis, TN 38115
8.5%
Year 1 Cap Rate$261,691
10 yr cash flow11.25%
10 yr IRRDetails
- Lot size11,325
- Rentable Sq.Ft1,600
- $/Rentable Sq.Ft$100
- Monthly rent$1,725
- Safety deposit$1,725
- Estimated reserve$10,000
- Lease start2023-11-01
- Lease end2024-10-30
- HOANo
- Flood zoneNo
COMING SOON - FIGURES SUBJECT TO CHANGE
Long-term investors stand to benefit from the following factors:
- Opportunity to increase rental income through moderate renovations
- Low going-in basis for both single family homes in a metro with a strong rental demand
- Accessibility to a growing employment base, ranked as one of the top metros in the U.S. for job creation over the last 10 years
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Neighborhood
Niche grades and rankings use rigorously analyzed data and user opinions to assess the key aspects of this neighborhood.
Overall neighborhood score:
Memphis, 38115
Cost Of Living
Good For Families
Good For Young Professionals
Housing
Jobs
Public Schools
Weather
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Financials
| Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
|---|---|---|---|---|---|
| Rental revenue | $20,700 | $21,735 | $22,822 | $25,161 | $32,112 |
| Vacancy & Collection Loss | ($1,035) | ($1,087) | ($1,141) | ($1,258) | ($1,606) |
| Operating revenues | $19,665 | $20,648 | $21,681 | $23,903 | $30,506 |
| Expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| HOA fees | ($0) | ($0) | ($0) | ($0) | ($0) |
| Insurance | ($1,312) | ($1,352) | ($1,392) | ($1,477) | ($1,712) |
| Utilities | ($152) | ($156) | ($161) | ($171) | ($198) |
| Leasing Fee | ($539) | ($566) | ($594) | ($655) | ($836) |
| Property management | ($1,573) | ($1,652) | ($1,734) | ($1,912) | ($2,441) |
| Real estate taxes | ($2,041) | ($2,938) | ($3,098) | ($3,287) | ($3,810) |
| Repairs and maintenance | ($518) | ($1,087) | ($1,141) | ($1,258) | ($1,606) |
| Operating expenses | ($6,135) | ($7,751) | ($8,120) | ($8,760) | ($10,603) |
| Net Operating Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Operating revenues | $19,665 | $20,648 | $21,681 | $23,903 | $30,506 |
| Operating expenses | ($6,135) | ($7,751) | ($8,120) | ($8,760) | ($10,603) |
| Net Operating Income | $13,530 | $12,897 | $13,561 | $15,143 | $19,903 |
| Cap Rate | 8.5% | 8.1% | 8.5% | 9.5% | 12.4% |
| Other income & expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| SHARE management | ($1,616) | ($1,664) | ($1,714) | ($1,819) | ($2,109) |
| Mortgage payments | $0 | $0 | $0 | $0 | $0 |
| Other income & expenses | ($1,616) | ($1,664) | ($1,714) | ($1,819) | ($2,109) |
| Cash flow & yield | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Cash flow | $11,914 | $11,233 | $11,847 | $13,324 | $17,794 |
| Cash yield | 6.5% | 6.1% | 6.5% | 7.3% | 9.7% |
Acquisition Equity
| Down payment | ($160,000) | |||
|---|---|---|---|---|
| Title insurance | ($1,600) | |||
| Debt costs | ||||
| Acquisition fee | ($7,500) | |||
| Home Buyer Inspection | ($500) | |||
| Leasing Fee | ($1,725) | |||
| Reserves | ($10,000) | |||
| Stabilization costs | ($1,707) | |||
| Total | ($183,032) | |||
Disposition Proceeds
| Estimated sale price | $313,693 | |||
|---|---|---|---|---|
| Disposition fee | ($3,137) | |||
| Other disposition costs | ($6,274) | |||
| Year 10 mortgage balance | ($0) | |||
| Total | $304,282 | |||
