3574 Steele St Memphis, TN 38127
3bd, 1.5ba | 1,657sqft | Built in 1956
Expand
Initial Investment
$67,211
List Price: $65,420
Purchase Price
$65,420
Down Payment
100%
Rent
$725

Total Return
$26,600
Annualized Return
7.8%
Cap Rate
7.8%
Gross Yield
13.3%
Cash Flow
$4,619
Appreciation
1.8%
Features
Occupancy
Occupied
Lease Start
03/01/2019 
Lease End
03/01/2021 
Lot Size
10,290 
HOA
None
Flood Risk
Not Required

  • Single-level home leased through 3/2021
  • Next to Pershing Park, close to shopping, bus stop

Buy It Now: Offers at list price include an American Home Shield home warranty.

Annual Financial Highlight
Expected Rent
$8,265
Expenses
-$2,659
Property Taxes
-$987
Loan Payments
$0

Net Cash Flow
$4,619
Considerations
Property Characteristics    View Details


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. If any prior inspection reports are available, you’ll find them in the Diligence Documents (Analysis tab).  If the latest inspection report is more than 4 months old, the home will be listed with an inspection contingency.
  • 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.
  • Roofstock will let you know whether the property passes Roofstock Certification. If it fails, and you choose to carry on with the transaction, the Roofstock Guarantee will no longer apply unless issues are resolved prior to closing. 

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.

BESbswy