1172 Will Scarlet, Memphis, TN 38111
Purchase Price: $57,900
Property Status: Renovated, Fully Rented
TAX APPRAISAL: $43,500
Closing Costs: $1k (estimated)
Total Monthly Debt Service: (Assumes Cash Purchase)
Rent Range: $775(Currently rented on a one year lease)
City/County Taxes*: $65/month (based on 2015 values)
Less Management (10%): $77.50/month
Positive Monthly Cash Flow: $587.11
Plus instant equity!
This fully renovated home includes updated central heat and air, a back deck, garage with remote start, beautiful hardwoods, new tile and countertop in kitchen, and no maintenance aluminum siding on the exterior. Currently rented for $775.
This property qualifies for Robert Feol’s Short Term Retirement Program – a simple, non qualifying permanent lending program where you bring 30% – 50% of the purchase price as a down payment, and we will finance the rest over a 5 year period. All Short Term Retirement loans feature a fixed rate and full amortization, meaning after 5 years you own your investment home free and clear, without any lien on it.
Financing (short and long term), property management, insurance, home inspectors, and contractors are available upon request
*Property taxes are based on $43,500 assessed value, which can be contested to increase cash flow. Square footage is based on Shelby County Tax Assessor’s information.
1 Full / Half