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.
Line Item Amount
Gross Potential Rent (12 Γ $3,000) $36,000
Less: Vacancy (2%) β $720
Effective Gross Income $35,280
Operating Expenses
Property Management (10% of gross) $3,600
Property Taxes $2,500
Repairs / Maintenance $0
Insurance, Utilities, etc. $1,200
Total Operating Expenses $6,100
Net Operating Income (NOI) $27,980
Debt Service (Mortgage P&I)
Loan amount $207,120
Interest rate 7.00%
Term 30 years
Monthly payment ~ $1,376.42
Annual debt service ~ $16,516.98
Cash Flow Before Taxes (CFBT) $12,663.02
Depreciation Deduction
Depreciable basis (80% of purchase price) $207,120
Depreciation period (27.5 years)
Annual depreciation $7,524.00
Return on cost (NOI / purchase price) 29,180 / 258,900 = 11.3%
CashβonβCash Return
Initial equity (20% down) $51,780
Yearβ1 CFBT / equity 12,663.02 / 51,780 = 24.5%
Listed by Alissa Anderson, Realtor
TN DREΒ #380018
Kaizen Realty, LLC7540 North St, Germantown TN 38138
Call: 901-808-8448Email: sales@reiamerica.comwebsite:Β www.reiamerica.comΒ
