2932 Letrec Cv Memphis, TN 38127
3bd, 1ba | 931sqft | Built in 1972
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Initial Investment
$54,799
List Price: $49,900
Purchase Price
$49,900
Down Payment
100%
Rent
$650

Total Return
$20,518
Annualized Return
7.6%
Cap Rate
9.4%
Gross Yield
15.6%
Cash Flow
$4,232
Appreciation
1.8%
Features
Roofstock Certified
Occupancy
Occupied
Lease Start
11/02/2018 
Lease End
06/30/2019 
Lot Size
8,805 
HOA
None
Flood Risk
Not Required
  • Tenant in place
  • Single-level brick home with carport
  • Cul-de-sac location; mature trees in large yard
  • Close to public golf, Allen Road Park and other regional recreation areas
  • Easy access to downtown (11 mi)

Annual Financial Highlight
Expected Rent
$7,410
Expenses
-$2,350
Property Taxes
-$828
Loan Payments
$0

Net Cash Flow
$4,232
Considerations
Property Characteristics    View Details


Inspection Contingency
This option lets the buyer specify that the home be inspected within a specific time period, during which the buyer can negotiate price or repairs based on the inspector’s findings or cancel the contract. Prior inspection reports may be available in the diligence documents. In some instances, the property has an inspection report from more than 4 months ago and needs an updated inspection.
  • The seller may be more willing to negotiate with a buyer in contract.
  • Opportunity to negotiate a lower price or repairs if any issues are discovered during the inspection process.
  • Ability to have the earnest money deposit refunded if the transaction is cancelled before the inspection contingency termination date.

Property Management   

Why choose?

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