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$314,900

For Sale - Active
537 Turtle Ln, Brandon, MS 39047
3 Beds
2 Baths
0 Square Feet
0.26 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 4 hours ago
Updated: Jun 27, 2025 at 03:03AM

Investment Summary


Monthly Cash Flow
$145
Cap Rate
6.2%
Cash-on-Cash Return
2.4%
Debt Coverage Ratio
1.10
Internal Rate of Return (5 years)
6.3%

Property Description


0.26 Acres Lot
Built in 2006
For Sale - Active
Units n/a

USDA 100% Financing at 537 Turtle Lane in Turtle Ridge Neighborhood off Hugh Ward in Brandon! ((NEW ROOF)) Located very near shopping, restaurants, schools, churches and the Ross Barnett Reservoir. It is a very short commute to UMMC, St. Dominic's and River Oaks! This lovely 3 bedroom, 2 bath brick home has been well maintained and has a NEW ROOF! The front doors are arched double doors and add to the stately curb appeal. Upon entering, the spacious dining room is to the right and the living room with the gas fireplace are open to the kitchen. The kitchen has stainless appliances and gas cooking. Stacked wall oven with built-in microwave above. The stainless refrigerator can stay with the right offer! The floor plan is a split plan with the primary suite to the right. There are hardwood floors through the main part of the home with tile in the kitchen and carpet in the bedrooms. Off the kitchen there is a nice office space leading toward the laundry room. The laundry room has tons of added storage and a sink. The large back yard has a deck and a wood privacy fence. Don't miss this beauty! Call today for a private tour!

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Location


Property Details


Parking

  • Description: Attached, Garage Door Opener, Garage Faces Side, Concrete
  • Details: Attached, Garage Door Opener, Garage Faces Side, Concrete
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Foundation: Slab
  • Roof Type: Hip

HOA

  • Has HOA: Yes
  • HOA Fee: $320/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: H11M00000601980
  • Lot Size: 11325 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: French Acadian, Traditional
  • Year Built: 2006

Tax Information

  • Annual Tax: $4,071

Utilities

  • Water & Sewer: Public
  • Heating: Central, Natural Gas
  • Cooling: Ceiling Fan(s), Central Air, Electric

Location

  • County: Rankin

Listing Details


Listed by:
Brooke Witcher
Turn Key Properties, LLC
(601) 497-1836

Source:
MLS United
MLS#: 4098554
MLS United

Investment Summary


Monthly Cash Flow
$145
Cap Rate
6.2%
Cash-on-Cash Return
2.4%
Debt Coverage Ratio
1.10
Internal Rate of Return (5 years)
6.3%

Purchase Details

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Purchase price:
$314,900
Amount financed:
-$251,920
Down payment:
$62,980
Closing costs:
$9,447
Rehab costs:
$0
Initial cash invested:
$72,427
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$251,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,490
Property tax:
$339
Insurance:
$203
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,032

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,900 $34,800
Vacancy loss: (6%)
6% -$174 -$2,088
Operating income:
$2,726 $32,712

Operating Expenses


% Rent Monthly Yearly
Property taxes: (12%)
12%-$339-$4,071
Insurance: (7%)
7%-$203-$2,436
Property management: (8%)
8%-$232-$2,784
Repairs & maintenance: (5%)
5%-$145-$1,740
Capital expenditures: (5%)
5%-$145-$1,740
HOA fees: (1%)
1%-$27-$324
Total operating expenses: (38%)
38%-$1,091-$13,095

Cash Flow


Monthly Yearly
Net operating income:
$1,635 $19,620
Mortgage payments:
-$1,490 -$17,880
Cash flow:
$145 $1,740