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Cash Flowing Memphis Investment Property For Sale!
- 3779 Silver Chalice Dr, Memphis TN 38115 USA
- $165,000 Purchase Price - $1,025 Monthly Rent
- 7% Annual ROI with Cash Purchase*
Jump on this unique opportunity to acquire a spacious 1,933 square foot, 3 beds 2 baths ranch-style single family home on a large 8,364 square foot lot in the Southeast Memphis Suburbs. A long term tenant has been living in the property for over 2 years and is paying $1,025 a month in rent. Close proximity to highway and Memphis International Airport, as well as many large employers, including FedEx International Headquarters, Amazon distribution facility, and a new Google research center. In the Covid-era, demand for these types of spacious suburban homes is increasing substantially among both home buyers and renters.
Cash Flow Analysis
INCOME | |
Monthly Rent | $1,708 (Actual) |
EXPENSES | |
Taxes | $549 (Actual) |
Property Management | $125 (Actual) |
Insurance | $71 (Actual) |
Vacancy | $85 (Estimated at 5% of rent) |
Maintenance | $85 (Estimated at 5% of rent) |
Capital Expenditures | $85 (Estimated at 5% of rent) |
MONTHLY CASH FLOW: | $708 |
Location
Easy 15-minute drive on the Interstate to Memphis International Airport; Downtown Memphis within 20-minute drive; 2-minute drive to plentiful shopping areas including Walmart, Costco, Home Depot, Kroger, and Hickory Ridge Mall.
Comparable Sales
3478 Kirby Pkwy, Memphis TN 38115 | 175,000 (12/20/2020) |
6577 Birch Walk Dr, Memphis TN 38115 | $165,000 (10/23/2020) |
6685 Birch Run Ln, Memphis TN 38115 | $152,000 (1/4/2021) |
3870 Ross Rd, Memphis TN 38115 | $146,000 (9/16/2020) |
8,364 Square Foot lot!
To reserve this property, please contact your Paraprin Capital representative, or send an email to info@paragonprincipal.com. A $5,000 non-refundable deposit is due upon signing of the purchase and sale agreement. Estimated closing costs above the purchase price are $1,750 but may vary depending on the circumstances. The financial analysis in this teaser assumes a cash purchase. Financing options up to 70% of the purchase price are available, regardless of the nationality of the buyer. Please inquire for more details.
*7% Annual ROI assumes annual appreciation of 3%, annual rent increase of 2%, and annual expenses increase of 2%