3722 Fern Ridge Road

Memphis, TN 38115
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2 bd, 2.5 ba | 1,392 sqft | Built in 1985

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For Sale

Exclusive

List Price
$114,900

Initial Investment

$31,310
Pre-approval letter or proof of funds required.

$

about the purchase process.
Features

Occupancy

Occupied

Lease Start

11/13/2020

Lease End

11/30/2022

Lot Size

3,790

HOA

None

Flood Risk

Not Required

  • Seller is repairing the items listed below:
(1) Exterior Walls: Damage to the siding, trim, and fascia board can allow for water intrusion. Broken glass at front bay window can also allow for water and pest intrusion.
(2) Roofing: Damaged/raised shingles noted on the roof which can allow water intrusion to the interior.
(3) Garage/Carport: Bottom of the South garage wall indicates water intrusion and siding damage on the interior.
(4) Common Areas: Water stain on the living room ceiling and small amount of wood-destroying organism evidence located at the back door area’s baseboard.
(5) Kitchen: Water staining on the kitchen ceiling.
(6) Bathrooms: Moisture staining around electric fan in bathroom 3.
(7) Attic: Exhaust duct venting in the attic which will cause moisture buildup.
  • Lease renews every November
  • Insurance fee included in monthly rent of 9.50
  • Quiet, residential neighborhood nearby shopping, dining, and public transportation
  • Get more insight into this market here
See more in Analysis

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Annual Financial Highlights

Expected Rent

$10,938

Expenses

-$2,807

Property Taxes

-$1,700

Loan Payments

-$6,247

Net Cash Flow

$185

See more in Financials

Property Characteristics

Roofstock Exclusive

Listed directly by the seller, Exclusive properties are only available through Roofstock.
  • These properties' Diligence Documents include one or more of these documents: inspection report, title search, rent history if occupied.
  • If the home is non-certified and the posted inspection is more than 3 months old, an inspection contingency will apply.
  • The seller will be represented by a Roofstock-affiliated broker and Roofstock will walk the buyer through the transaction.

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