I want to receive the deals!

  • This field is for validation purposes and should be left unchanged.

Turn Key Renovation 3294 Gatewood Dr Memphis TN Shelby County For Sale

  • $253000
  • 3 beds
  • 2 baths
  • 1400 sqft

Fully renovated 3 Bed / 2 Bath home in a prime rental area. This property comes tenant-ready, offering investors immediate rental income with no repairs needed.

๐Ÿ’ฐ Investment Summary

Gross Potential Rent: $3,000/month or $36,000 annually
Less Vacancy (2%): โ€“$720
Effective Gross Income: $35,280

๐Ÿงพ Operating Expenses

Property Management (10% of gross): $3,600
Property Taxes: $2,500
Repairs & Maintenance: $0
Insurance and Utilities: $1,200
Total Operating Expenses: $7,300

Net Operating Income (NOI): $27,980

๐Ÿฆ Debt Service (Mortgage & Interest)

Loan Amount: $202,400
Interest Rate: 7.00%
Loan Term: 30 years
Monthly Payment: approximately $1,346.58
Annual Debt Service: around $16,159

Cash Flow Before Taxes (CFBT): $27,980 โ€“ $16,159 = $11,821

๐Ÿ“‰ Depreciation Deduction

Depreciable Basis (80% of Purchase Price): $202,400
Depreciation Period: 27.5 years
Annual Depreciation: $7,360

๐Ÿ“ˆ Return Metrics

Return on Cost (NOI รท Purchase Price): 27,980 รท 253,000 = 11.1%
Initial Equity (20% down): $50,600
Cash-on-Cash Return (CFBT รท Equity): 11,821 รท 50,600 = 23.4%

Price:
$253000
Address:
3294 GATEWOOD DR
Memphis, Shelby
Square Feet:
1400
Bedrooms:
3
Bathrooms:
2
Terms:
For Sale
Property Type:
Home

Call ๐Ÿต๐Ÿฌ๐Ÿญ-๐Ÿด๐Ÿฌ๐Ÿด-๐Ÿด๐Ÿฐ๐Ÿฐ๐Ÿด for more details

Property Location