Looking for Turn Key Rentals in Memphis TN? 👀🏡

[Alissa Anderson]

View Proforma Here:

https://docs.google.com/spreadsheets/d/1Ynu_njlkAjSoaoa4K9zAK49PRhw_DqA19umhKcweumE/edit?usp=sharing

Investment Opportunity: New Construction Rental Property in Memphis, TN

Address: 3424 Madewell Dr, Memphis TN
Price: $165,000
Monthly Rent: $1,700

Property Overview:

Discover an outstanding investment opportunity with this newly constructed 4-bedroom, 2-bathroom rental property in a thriving Memphis neighborhood. Designed with modern amenities and energy-efficient features, this property is perfect for investors seeking a dependable and high-return asset.

Key Features:

• New Construction: This property features the latest in construction quality, energy efficiency, and contemporary design.
• Spacious and Functional Layout: The home offers an open floor plan with ample living space, ideal for attracting quality tenants.
• Turnkey Investment: Currently rented at $1,700 per month, this property delivers immediate rental income.
• Low Operating Costs: With annual property taxes of $1,550, insurance at $1,000, and an 8% property management fee, operating expenses are minimized.

Financial Highlights:

• Purchase Price: $165,000
• Down Payment (20%): $33,000
• Loan Amount: $132,000 at 7% interest
• Monthly Mortgage Payment: $878.20
• Annual Gross Rent Income: $20,400
• Net Operating Income (NOI): $16,218
• Annual Cash Flow: $5,679.60
• Cash on Cash Return: 15.65%
• Appreciation Potential: With an estimated annual appreciation rate of 3%, the property is expected to appreciate by $4,950 annually.
• Tax Benefits: Benefit from an annual depreciation deduction of $6,000, resulting in tax savings of approximately $1,440 per year.

Investment Summary:

This property offers a robust investment with a cash on cash return of 15.65% and a total ROI of 33.26% when considering appreciation and depreciation. The new construction status ensures minimal maintenance and strong tenant appeal, making it a hassle-free investment in a growing market.

Location Highlights:

• Proximity to Amenities: Conveniently located near schools, shopping centers, and public transportation.
• Growth Area: Memphis is experiencing steady economic growth, enhancing the demand for rental properties.
  
  Contact us at Homekeybuilders.com