Example Rental

Cosmetic rehab, house on the lake

Return to Track Record

1937 W Holmes Rd Memphis, Tennessee 38109

  • 3 Beds
  • 2.0 Baths
  • 1,919 Sqft
  • 2.76% Cash on Cash

Cost & Income

Purchase Price
$152,518
Renovation Costs
$16,000
Development Fee
$3,500
Total Basis
$172,018
Purchase Date
06/24/22
Date Rented -1035 days
Gross Rent
$1,045/mo
Vacancy (5.00%)
($4)
Property Mgmt (7.50%)
($78)
Other Expenses
($353)
Net Operating Income
$610/mo
Cap Rate
4.25%

Levered Cash Return
Not including any appreciation

Appraised Value
$93,000
Loan (75% LTV)
$69,750
LTC %
41%
Cash In
$102,268
Yield on Cash
3.74%
Net Operating Income
$7,317
Debt Service (P&I)
($4,492)
Cash Flow 2.76%
$2,825
Principal Paydown 0.98%
$1,004
Total Income
$3,830
1937 W Holmes Rd
Estimated Value
$93,000
Value Over Cost
$-79,018
Initial Capital Gain
-45.94%

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Description

This home rented for $50/mo over ask price with over 50 lead submissions. We put in a little extra work to make our homes look nice so we have a huge pool of applicants.