Investment Opportunity – 4951 Melanie, Memphis TN 38118
This 3 bed / 1.5 bath property with 1,120 sq ft, built in 1963, is available at a discounted buy price of $120,000. With an estimated $40,000 rehab and an ARV of $165,000, it offers strong potential for investors. Whether you’re looking for a fix & flip or a rental hold, this home provides an excellent entry point into the Memphis market.
Purchase Price: $120,000
Rehab Estimate: $40,000
After Repair Value (ARV): $165,000
Commissions & Closing (5%): $6,000
Total All-In Cost: $166,000
Projected Profit (ARV − Total All-In): –$1,000
Financing Details
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Down Payment (20%): $24,000
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Loan Amount: $96,000
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Interest Rate: 7.00%
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Term: 30 years
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Monthly Mortgage (Principal & Interest): $638.69
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Annual Mortgage (Principal & Interest): $7,664.28
Annual Operating Expenses
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Property Taxes: $2,500
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Insurance: $1,200
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Property Management: 10% of rent (rent TBD)
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Vacancy Allowance: 2% of rent (rent TBD)
