1059 Maria St

Memphis, TN 38122
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3 bd, 1.5 ba | 1,216 sqft | Built in 1947

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List Price
$69,000

Initial Investment

$19,073

Purchase Price

$69,000

Down Payment

25%

Rent

$775

Total Return

$38,786

Annualized Return

26.6%

Cap Rate

7.8%

Gross Yield

13.5%

Cash Flow

$1,103

Appreciation

8.3%
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Features

Occupancy

Occupied

Lease Start

01/04/2019

Lease End

01/31/2020

Lot Size

7,800

HOA

None

Flood Risk

Not Required

  • Complete interior and exterior, turnkey rehab including:
  • Brand new 30-year architectural roof, along with interior and exterior paint
  • New kitchen cabinets and countertops, new bathrooms, natural refinished hardwood, and commercial vinyl flooring
  • Seller to replace furnace as a contingency of closing
  • 7% cap rate with ~$5,000 in year one cash flow

MARKETS

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NEIGHBORHOOD

SCHOOLS

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Annual Financial Highlights

Expected Rent

$8,835

Expenses

-$2,681

Property Taxes

-$1,300

Loan Payments

-$3,751

Net Cash Flow

$1,103

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