Example Rental

Great yielding workforce housing

Return to Track Record

3361 Mckenzie St Memphis, Tennessee 38118

  • 3 Beds
  • 2.0 Baths
  • 1,378 Sqft
  • -0.17% Cash on Cash

Cost & Income

Purchase Price
$125,603
Renovation Costs
$21,826
Development Fee
$3,500
Total Basis
$150,929
Purchase Date
06/24/22
Date Rented -1329 days
Gross Rent
$995/mo
Vacancy (5.00%)
($4)
Property Mgmt (7.50%)
($75)
Other Expenses
($397)
Net Operating Income
$519/mo
Cap Rate
4.13%

Levered Cash Return
Not including any appreciation

Appraised Value
$130,811
Loan (75% LTV)
$98,108
LTC %
65%
Cash In
$52,821
Yield on Cash
2.51%
Net Operating Income
$6,229
Debt Service (P&I)
($6,318)
Cash Flow -0.17%
$-89
Principal Paydown 2.67%
$1,413
Total Income
$1,323
3361 Mckenzie St
Estimated Value
$130,811
Value Over Cost
$-20,118
Initial Capital Gain
-13.33%

Interested in investing with us?

Request Information

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.