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Memphis Turnkey Duplex – Tenants Already in Place
- 2435 Forrest Ave, Memphis TN 38112 USA
- $124,000 Purchase Price – $1,200 Monthly Rent
- 11% Annual ROI with Financed Purchase
- NEWLY RENOVATED!
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 Paragon Capital Group 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.
