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
  • -10.96% 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
($480)
Net Operating Income
$482/mo
Cap Rate
3.36%

Levered Cash Return
Not including any appreciation

Appraised Value
$188,784
Loan (75% LTV)
$141,588
LTC %
82%
Cash In
$30,430
Yield on Cash
-4.25%
Net Operating Income
$5,785
Debt Service (P&I)
($9,118)
Cash Flow -10.96%
$-3,334
Principal Paydown 6.70%
$2,039
Total Income
$-1,295
1937 W Holmes Rd
Estimated Value
$188,784
Value Over Cost
$16,766
Initial Capital Gain
9.75%

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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.