Memphis Turnkey Duplex - Tenants Already in Place

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.

Cash Flow Analysis (Financed Purchase)

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

Location

Walking distance to Rhode’s College, Overton Park, and the Broad Ave Arts District. Easy access to the Interstate via Sam Cooper Blvd.

Comparable Sales

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

Memphis Cash Cow

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.