Deal or No Deal? Memphis, TN 38115 Not Turnkey!!
Hi BP Community!!
I finally found the right place to post this....I'm working on a deal right now in Memphis, TN and I was wanting to get some opinions on this.
The property is in Memphis in Hickory Hill, 38115 and for buy and hold. I THINK these numbers are pretty conservative, but not sure. Here are the stats.
SFR, 3/2 + "extra room that can be used as a bedroom" 1300 sqf
Purchase: 56K
Rehab: 4k
ARV: 70k
Rent: $800 (according to PM, but I think it might be closer to $750)
Vacancy - 8%
Repair - 8%
Capex - 8%
PM - 10%
P&I - $270
Insurance - $50
Tax - $90
Cashflow - $120 ($100 if using $750/mo)
Deal or No Deal?