New Property in Cordova, TN

8 Replies

Hi - I am a newbee to real estate investing. I live in Green Bay,WI and I am working w/ a Turnkey company on some out of state properties. I am currently looking at brand new a property in Cordova, TN which is listed at $192K w/ rental income of $1525. Based on the calculators on the web, it looks like I am going to cash flow 100-200 per mo and it's in a nice neighborhood. Just reaching out to the community to seek opinions of the experts out there. The numbers are telling me that this is a decent deal..what do you guys think?

Originally posted by @Bharath Danda :

Hi - I am a newbee to real estate investing. I live in Green Bay,WI and I am working w/ a Turnkey company on some out of state properties. I am currently looking at brand new a property in Cordova, TN which is listed at $192K w/ rental income of $1525. Based on the calculators on the web, it looks like I am going to cash flow 100-200 per mo and it's in a nice neighborhood. Just reaching out to the community to seek opinions of the experts out there. The numbers are telling me that this is a decent deal..what do you guys think?

 Welcome to the site.

@Bharath Danda , main thing to consider is that the rent is likely to DECLINE over time. A new house gets a premium. So your cashflow can reduce as maintenance goes up.

Also research what a similar existing home might cost. You will be surprised how much money you could save buying existing.

@Bharath Danda

cordova is a great neighborhood for investors. the real estate value have gone up over the last three years. 

$1525 rental was worth $120 to $130k three years back but certainly not new construction which doesnt mean much since you are not living there. 

also the pool of buyer willing to pay $1525 is low compared to the average $1100 to $1200 pool. please keep that in mind.