Deal Analysis - Memphis, TN 38115

[Zack P.]

Hi all!  Not sure if I'm posting this on the right place, but was wanting to get few different sets of eyes on this.  

The property is in Hickory Hill, 38115 and for buy and hold.  I THINK these numbers are pretty conservative, but not sure.  Here are the stats. 

SFR, 3/2 + "extra room that can be used as a bedroom" 1300 sqf

Purchase: 56K

Rehab: 4k

ARV: 70k

Rent: $800 (according to PM, but I think it might be closer to $750)

Vacancy - 8%

Repair - 8%

Capex - 8%

PM - 10%

P&I - $270

Insurance - $50

Tax - $90

Cashflow  -  $120  ($100 if using  $750/mo)

Thoughts? 

[Harsh Mehta]

Originally posted by @Harsh Mehta:

Hi James, I see 38115 has a higher crime rate as compared to other zip codes in Memphis. Is that true, does it still make a good place to invest? I have started looking into couple of neighborhood. Please share your thoughts on Williamsburg Colony behind Emarald Park on Bishop Gates Drive. Is the neighborhood safe? Please do share your thoughts. 

Thanks for the help.

Thanks,

Harsh Mehta