Example Rental
Great yielding workforce housing
3361 Mckenzie St Memphis, Tennessee 38118
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3 Beds
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2.0 Baths
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1,378 Sqft
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2.51% Cash on Cash
Cost & Income
Levered Cash Return
Not including any appreciation
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Appraised Value
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$99,734
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Loan (75% LTV)
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$74,801
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LTC %
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50%
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Cash In
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$76,129
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Yield on Cash
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3.92%
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Net Operating Income
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$6,726
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Debt Service (P&I)
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($4,817)
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Cash Flow 2.51%
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$1,909
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Principal Paydown 1.41%
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$1,077
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Total Income
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$2,986

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Estimated Value
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$99,734
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Value Over Cost
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$-51,195
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Initial Capital Gain
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-33.92%
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Description
This is a nice little 1950s vintage house that we purchased at the foreclosure auction. After a modern renovation with granite counters, new bathroom tile, and a roof change, we rented for $995 per month, about $100 per month higher than unrenovated homes in the neighborhood.