1477 Patton St

Memphis, TN 38106
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2 bd, 1 ba | 1,008 sqft | Built in 1960

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For Sale

Exclusive

List Price
$69,500

Initial Investment

$19,544
Pre-approval letter or proof of funds required.

$

about the purchase process.
Features

Occupancy

Occupied

Lease Start

07/24/2020

Lease End

07/31/2022

Lot Size

2,700

HOA

None

Flood Risk

Not Required

  • Excellent cap rate, annual cash flow and market appreciation
  • At market rent, it is above 1% rule for rent and listing price.
  • 1% rule is met at current rent to listing price
See more in Analysis

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Annual Financial Highlights

Expected Rent

$8,550

Expenses

-$2,533

Property Taxes

-$1,000

Loan Payments

-$3,778

Net Cash Flow

$1,239

See more in Financials

Property Characteristics

Inspection Contingency

This home will be inspected after the offer is accepted and prior to closing, during which time you can negotiate price or repairs based on the inspector's findings or cancel the contract.
  • This property will be professionally inspected before closing.
  • You'll have the opportunity to negotiate a lower price or repairs if any issues are identified during the inspection process.
  • Your earnest money deposit will be refunded if you cancel the transaction before the inspection contingency termination date.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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