Investment Property in 1343 Dove St Memphis For Sale

1343 Dove St is a 3 bed / 2 bath home with 1,354 sq ft, built in 1963. Priced at $145,000, this property is currently vacant and only needs finishing construction to get rental-ready. With a projected rent of $1,550/month, it’s a strong cash-flowing asset for buy-and-hold investors.

💰 Investment Snapshot

• Purchase Price: $145,000

• Rehab (Finishing Construction): Estimate TBD (light to moderate finishing work)

• After Rehab Rent: $1,550 / month

Rental Income Projections

• Gross Annual Rent: $18,600

• Less: Vacancy (5%) → $930

• Effective Gross Income (EGI): $17,670

Operating Expenses (Estimates)

• Property Taxes: $1,091.53

• Insurance/Repairs/Management (est. 20% of rent): ~$3,720

• Total Expenses: ~$4,811.53

Net Operating Income (NOI): ≈ $12,858

Financing (Assuming 20% Down, 7% Interest, 30 Yr Loan)

• Loan Amount: $116,000

• Monthly P&I: ≈ $772

• Annual Debt Service: ≈ $9,264

Cash Flow Before Taxes (CFBT):
$12,858 – $9,264 = $3,594 / year (~$299/month)

Cash-on-Cash Return:
Down Payment = $29,000
CFBT / Down Payment = 12.4%