2161 Erie Ave

Memphis, TN 38114
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3 bd, 1 ba | 1,062 sqft | Built in 1932

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List Price
$75,500

Initial Investment

$20,574

Purchase Price

$75,500

Down Payment

25%

Rent

$1,010

Total Return

$50,054

Annualized Return

31.9%

Cap Rate

9.6%

Gross Yield

16.1%

Cash Flow

$2,439

Appreciation

8.4%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

2,500

HOA

None

Flood Risk

Not Required

Pictures were before tenant moved in. Pictures are virtually staged. 3 bed 1 bath home. 2019 hardwood floors refinished, carpet, window AC units and windows were replaced. Do not disturb tenants. No showings until accepted offer. Tenant is month to month.

MARKETS

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NEIGHBORHOOD

SCHOOLS

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Pablo Pereyra
901 Realtor
TN Agent License #287154

Annual Financial Highlights

Expected Rent

$11,514

Expenses

-$3,571

Property Taxes

-$1,400

Loan Payments

-$4,105

Net Cash Flow

$2,439

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

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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Similar Listings



Listing Courtesy of:Kevin Clark
Agent License 341726
Keller Williams
Certified Agent Brokerage:Pablo Pereyra
901 Realtor
TN Brokerage License 264252
SourceMemphis Area Association of Realtors
MLS #10156937
Last Updated: 11/05/2023 02:11
Disclaimer: The accuracy of this information is deemed reliable but not guaranteed or warrantied. All information should be independently verified before making purchase decisions. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The content relating to real estate for sale on this website appears courtesy of the Multiple Listing Service (MLS) listed as the “Source” on this page. Individual listings appear with the permission of the real estate brokerage identified under the “Listing Agent” on this page.