One of the biggest complaints with buying Turnkey is purchasing without equity. While that topic is a different discussion for a different day :), we are offering a property with tenant in place and equity. The sales comp report in the link below was generated from MAAR Data (Memphis Area Association of Realtors) giving the comps in the area. While only a 2 bedroom home, it is located in the Midtown area of Memphis which is an attractive place for young professionals, grad/medical students, young couples/families and single individuals where a 2/1 is desired. This is not a school driven area. The sales comps shows 2/1 comparable sales to be in the $111 to $153 price per sq ft. This home was renovated to retail standards which included new cabinets, granite counter tops, ceramic tile in kitchen and bath, new vanities, installation of an HVAC system, new double hung windows, refinished hardwood floors, privacy fence in the backyard, etc.

Current tenants are young professionals moving in on 1/13/17 on an 18 month lease. Reservation fee and $5,300 has been paid in advance.

Sales Comps & Pictures: https://app.box.com/v/27Fenwick

Discount Mgmt Fee: 8%

Insurance Estimate (Through our Preferred Carrier): $432 a year

Taxes: $2,162

Warranties: 90/180 in house. Manufacture on HVAC system 

About Memphis & Little Rock Turnkey:

 https://app.box.com/v/AboutMemphisLittleRockTurnke...