Browse Properties
Well Located Opportunity in Memphis, TN
Cordova, TN 38016
Well Located Opportunity in Memphis, TN
Cordova, TN 38016
6.0%
Year 1 Cap Rate$285,374
10 yr cash flow8.23%
10 yr IRRDetails
- Lot size5,663
- Rentable Sq.Ft1,899
- $/Rentable Sq.Ft$147
- Monthly rent$1,995
- Safety deposit$1,995
- Estimated reserve$3,500
- Lease start2024-05-01
- Lease end2025-04-30
- HOANo
- Flood zoneNo
FIGURES SUBJECT TO CHANGE
Long-term investors stand to benefit from the following factors:
- Well-located opportunity in a desirable suburban area of Memphis, TN
- Opportunity to increase rental income through renovations and unlock equity
- Low going-in basis for both single family homes in a metro with a strong rental demand
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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:
Cordova, 38016
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 | $23,940 | $24,898 | $25,894 | $28,006 | $34,074 |
| Vacancy & Collection Loss | ($1,197) | ($1,245) | ($1,295) | ($1,400) | ($1,704) |
| Operating revenues | $22,743 | $23,653 | $24,599 | $26,606 | $32,370 |
| Expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| HOA fees | ($0) | ($0) | ($0) | ($0) | ($0) |
| Insurance | ($1,581) | ($1,629) | ($1,677) | ($1,780) | ($2,063) |
| Utilities | ($0) | ($0) | ($0) | ($0) | ($0) |
| Leasing Fee | ($399) | ($415) | ($432) | ($467) | ($568) |
| Property management | ($1,137) | ($1,183) | ($1,230) | ($1,330) | ($1,619) |
| Real estate taxes | ($2,160) | ($2,425) | ($2,498) | ($2,650) | ($3,072) |
| Repairs and maintenance | ($599) | ($1,245) | ($1,295) | ($1,400) | ($1,704) |
| Operating expenses | ($5,876) | ($6,897) | ($7,132) | ($7,627) | ($9,026) |
| Net Operating Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Operating revenues | $22,743 | $23,653 | $24,599 | $26,606 | $32,370 |
| Operating expenses | ($5,876) | ($6,897) | ($7,132) | ($7,627) | ($9,026) |
| Net Operating Income | $16,867 | $16,756 | $17,467 | $18,979 | $23,344 |
| Cap Rate | 6.0% | 6.0% | 6.2% | 6.8% | 8.3% |
| Other income & expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| SHARE management | ($1,411) | ($1,453) | ($1,496) | ($1,588) | ($1,840) |
| Mortgage payments | $0 | $0 | $0 | $0 | $0 |
| Other income & expenses | ($1,411) | ($1,453) | ($1,496) | ($1,588) | ($1,840) |
| Cash flow & yield | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Cash flow | $15,456 | $15,303 | $15,971 | $17,391 | $21,504 |
| Cash yield | 5.1% | 5.1% | 5.3% | 5.8% | 7.2% |
Acquisition Equity
| Down payment | ($280,000) | |||
|---|---|---|---|---|
| Title insurance | ($4,200) | |||
| Debt costs | ||||
| Acquisition fee | ($8,400) | |||
| Home Buyer Inspection | ($500) | |||
| Leasing Fee | ($2,993) | |||
| Reserves | ($3,500) | |||
| Stabilization costs | ($774) | |||
| Total | ($300,367) | |||
Disposition Proceeds
| Estimated sale price | $418,552 | |||
|---|---|---|---|---|
| Disposition fee | ($4,186) | |||
| Other disposition costs | ($8,371) | |||
| Year 10 mortgage balance | ($0) | |||
| Total | $405,995 | |||
