3/2 property in a rental area where turn-key companies operate. If you are a buy & hold investor this can be a good property to add to your portfolio. 11% Cap Rate. See complete analysis here

Address: 3795 Kipling Ave. Memphis, TN 38128

3 Bedrooms, 2 bath 1233 sqft.

Photos: Here

Estimated Repairs: 15k. repair damaged sheetrock, new carpet and pad, new tiles, paint throughout, new condenser, repair/replace fascia, trim, and doors and other cosmetic repairs.

I'm not a contractor so you will have to go out there and confirm the numbers as your guys can come with a lower or higher bid.

Rent Estimated: $725-795. Check rent comps here

ARV: 55-62k. Absentee owners (i.e. investors)

Comps:

4027 Trudy St, Memphis, TN 38128

3/2 1278 sqft sold on 5/7/2014 for 57k. 0.22 miles from subject property

4062 Hobson Rd, Memphis, TN 38128

3/2 1314 sqft sold on 5/1/2014 for 61.5k. 0.27 miles from subject property

4372 Kerwin Dr, Memphis, TN 38128

3/2 1299 sqft sold on 4/23/2014 for 58.7k. 0.34 miles from subject property

Asking Price 32.9K

Note: This is a HUD home we won the bid on and we're flipping. You can close on this ASAP. Cash or Hard Money only.


Your realtor should be able to access the property with HUD keys. If you need to coordinate access please feel free to contact me.

Please run your numbers and let me know if you are interested.