780 Cherokee Ave

Memphis, TN 38106
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4 bd, 1 ba | 1,224 sqft | Built in 1953

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List Price
$68,000

Initial Investment

$17,440

Purchase Price

$64,000

Down Payment

25%

Rent

$750

Total Return

$36,074

Annualized Return

27.6%

Cap Rate

8.4%

Gross Yield

14.1%

Cash Flow

$1,407

Appreciation

7.7%
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Features

Occupancy

Occupied

Lease Start

02/10/2020

Lease End

01/31/2022

Lot Size

9,195

HOA

None

Flood Risk

Not Required

  • 2020 New Roof, flooring, siding, exterior/interior paint
  • 2020 updated bathroom (new vanity) and kitchen with new cabinets, granite countertops, backsplash, porcelain flooring
  • Long term tenant (2 year lease) rents quickly low vacancy
  • Amazon recently broke ground on a new facility (1000+ employees)

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Annual Financial Highlights

Expected Rent

$8,550

Expenses

-$2,664

Property Taxes

-$1,000

Loan Payments

-$3,479

Net Cash Flow

$1,407

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