Rental Property Investor · Memphis, TN · Member since 2017 · 352 posts · 148 votes
Duplex - Memphis - Turnkey!!!
Rent: $1,200
Price: $79,900
Cash on Cash Return: 24.97%
ROI: 42.65%
Cap Rate: 11.02%
This home is located in the Hickory Hill area of town. After pressure washing the home, all exterior wood will be checked for rot and replaced if any if found, then painted. The windows will be checked to ensure proper working order, and that glass is intact. A brand new iron post mailbox will be added, along with professional landscaping, and repair of the privacy fence will add to the home’s curb appeal. A new HVAC system will be added, along with cage. All exterior doors will be rekeyed as well on this property. Electrical and plumbing will be checked to ensure working order. The interior will receive a new coat of paint- “Urban Putty” on the main walls, and “Brilliant White” on trim. All hard surfaces will be added throughout, Resilient vinyl plank floors, tile, or refinished floors. In the kitchen, the cabinets will be painted, and new formica countertops in a modern color will be added. The bathrooms will be repaired and updated. After a hardware package and deep cleaning are added, the home will be photo and rent ready!
Click here for all the pictures and updated information!
@Mark Hart, you are planning on selling this for 79,900 after all of those repairs have been made? What is the expected date of completion? Do you do deals like this often? Are you a flipper in Memphis? Where are you getting your expected rents from?
@Alex Craig I prefer to buy boarded up homes. That way I can buy low enough to be able to perform a FULL renovation and bring the property back to live. By adding maintenance preventers like hard-surface floors, and new mechanical, I have lower cap ex in my future. .
@Mark Hart is this photo of the property prior to renovation?