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Heavy Reno in Memphis
Memphis, TN 38109
Heavy Reno in Memphis
Memphis, TN 38109
0.0%
Year 1 caprate$0
10 year cashflow0.00%
10 year irrDetails
- Lot size7,841
- Rentable Sq.Ft1,493
- $/Rentable Sq.Ft$57
- Monthly rent$1,395
- Safety deposit$1,395
- Estimated reserve$10,000
- Lease start2024-01-01
- Lease end2024-12-31
- 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 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, 38109
Cost Of Living
Good For Families
Good For Young Professionals
Housing
Jobs
Public Schools
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Financials
| Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
|---|---|---|---|---|---|
| Rental revenue | $16,740 | $17,410 | $18,106 | $19,583 | $23,826 |
| Vacancy | ($1,004) | ($1,045) | ($1,086) | ($1,175) | ($1,430) |
| Operating revenues | $15,736 | $16,365 | $17,020 | $18,408 | $22,396 |
| Expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| HOA fees | ($0) | ($0) | ($0) | ($0) | ($0) |
| Insurance | ($1,254) | ($1,291) | ($1,330) | ($1,411) | ($1,636) |
| Utilities | ($203) | ($209) | ($215) | ($228) | ($264) |
| Leasing fee | ($575) | ($598) | ($622) | ($673) | ($819) |
| Property mgmt | ($1,259) | ($1,309) | ($1,362) | ($1,473) | ($1,792) |
| Real estate taxes | ($1,540) | ($2,208) | ($2,274) | ($2,413) | ($2,797) |
| Repairs maintenance | ($502) | ($1,045) | ($1,086) | ($1,175) | ($1,430) |
| Operating expenses | ($5,333) | ($6,660) | ($6,889) | ($7,373) | ($8,738) |
| Net Operating Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Operating revenues | $0 | $0 | $0 | $0 | $0 |
| Operating expenses | $0 | $0 | $0 | $0 | $0 |
| Net operating income | $0 | $0 | $0 | $0 | $0 |
| Caprate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Other income & expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Share mgmt | ($861) | ($886) | ($913) | ($969) | ($1,123) |
| Mortgage payments | $0 | $0 | $0 | $0 | $0 |
| Other income & expenses | ($861) | ($886) | ($913) | ($969) | ($1,123) |
| Cash flow & yield | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Cash flow | $0 | $0 | $0 | $0 | $0 |
| Cash yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Acquisition equity
| Down payment | ($85,000) | |||
|---|---|---|---|---|
| Title insurance | ($850) | |||
| Debt costs | ||||
| Acquisition fee | ($7,500) | |||
| Home buyer inspection | ($500) | |||
| Leasing fee | ($1,395) | |||
| Reserves | ($10,000) | |||
| Stabilization costs | ($2,150) | |||
| Total | ($107,395) | |||
Disposition proceeds
| Estimated sale price | $253,727 | |||
|---|---|---|---|---|
| Disposition fee | ($2,537) | |||
| Other disposition costs | ($5,075) | |||
| Year 10 mortgage balance | ($0) | |||
| Total | $246,115 | |||