Off Market Duplex In Memphis, TN. $45,000 (Both Sides Rented)

[Jason Hopkins]

Please see details below regarding this Off Market Duplex Deal in Memphis, TN. Please let me know if you are interested.

-3226 Forest Brook Dr. Memphis, TN. 38118

-Each unit is rented for $625 per month

-Each unit is on a month to month lease, tenants have been there 5 months

-Built in 1970

-2,340 total sq feet

-Roof is in good condition

-HVAC for both units is 3 years old

-Water heaters for both units is 3 years old

-Microwave, stove, and fridge provided in each unit

-Yearly taxes $1,324.79

-Repairs $5,000 (cut grass, trim trees in front and back yard, remove broken trees branches in back yard, power wash outside of property, repair a few holes in drywall, secure a few vent covers, clean carpet, change locks)

-ARV $67,000

-Cash asking price $45,000

-ROI 17.8%

-Clink link to view detailed pictures

https://www.youtube.com/watch?v=xevVEXT9eNc&t=4s

-Comps

-3213 Forest Brook Dr. $78,000 (sale pending)

-3220 Ashwood $65,000 (sale pending)

-3402 Barbwood Dr $65,000 (sale pending)

-3446 Barbwood Dr $65,000 (sale pending)

*Based off $45K purchase and $5K repairs

Income	Monthly	Annual
Gross Rent	1250	15000
Vacancy Losses (7%)	87.5	1050
Operating Income	1162.5	13950
Expenses	Monthly	Annual
Property Taxes	110	1325
Insurance	125	1500
Management Fees (10%)	125	1500
Association Fees	0	0
Maintenance (5%)	62.5	750
Other	0	0
Operating Expenses	423	5075
Net Performance	Monthly	Annual
Net Operating Income	740	8875
Mortgage Payments	0	0
Cash Flow	740	8875
ROI	17.8%
Cap Rate	17.8%

*Disclaimer and Terms*

This property is a off market wholesale deal that can be bought with cash only. I have the property under contract to purchase for cash and selling my position as the current buyer via a assignment agreement.