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Boost your cash flow with this 1637 sqft duplex with 2 beds, 1 bath currently leased out for $625 on one side and 1 bed, 1 bath currently leased out for $575 on the other. The location is in a high growth area, just a stone’s throw from the Broad Ave Arts District, where over 300 apartment units are currently under construction as part of a large mixed use development. It is also a one minute walk from the historic Overton Park and has easy access to the freeway via Sam Cooper Blvd. The duplex is also a 5 minute walk from Rhodes College and has the potential to attract students as tenants in the future.
Why do we like Memphis? Check out our Memphis Market Profile HERE.
INCOME | |
Monthly Rent | $1,200 (Actual) |
EXPENSES | |
Taxes | $125 (Actual) |
Property Management | $107 (Actual) |
Insurance | $59 (Actual) |
Vacancy | $60 (Estimated at 5% of rent) |
Maintenance | $60 (Estimated at 5% of rent) |
Capital Expenditures | $60 (Estimated at 5% of rent) |
Mortgage P & I @4% 30 Years, 80% LTV | $474 |
MONTHLY CASH FLOW: | $254 |
Walking distance to Rhode’s College, Overton Park, and the Broad Ave Arts District. Easy access to the Interstate via Sam Cooper Blvd.
647 McConnell St, Memphis, TN 38112 | 135,000 (5/11/2020) 0.3 Miles Away |
764 Holly St, Memphis 38112 | $163,000 (12/16/2020) 0.4 Miles Away |
148 Roberta Dr Memphis, TN 38112 | $150,000 (10/30/2020) 1.2 Miles Away |
161 Eastview Dr, Memphis, TN 38111 | $119,900 (6/16/2020) 1.5 Miles Away |
To reserve this property, please contact your Paraprin Capital representative, or send an email to info@paragonprincipal.com. A $2,000 deposit is due upon signing of the purchase and sale agreement. Estimated closing costs above the purchase price are $3,000 but may vary depending on the circumstances. The financial analysis in this teaser assumes a financed purchase. Financing options up to 80% of the purchase price are available, regardless of the nationality of the buyer. Please inquire for more details.