220 Cherry St

Madison, TN 37115
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2 bd, 1 ba | 957 sqft | Built in 1940

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List Price
$275,000

Initial Investment

$74,938

Purchase Price

$275,000

Down Payment

25%

Rent

$1,610

Total Return

$186,634

Annualized Return

27.4%

Cap Rate

4.5%

Gross Yield

7.0%

Cash Flow

-$3,203

Appreciation

11.9%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

13,939

HOA

None

Flood Risk

Not Required

Updated & turn key starter home or investment property, all on a single level! Extremely spacious backyard & screened deck. Conveniently located less than 10 Miles from downtown & 13 Miles from BNA!! This home is currently being used as a rental property & requires notice to show.

See more in Analysis
Mel Priess
Roofstock Realty LLC - TN
TN Agent License #330595

Annual Financial Highlights

Expected Rent

$18,354

Expenses

-$4,107

Property Taxes

-$2,500

Loan Payments

-$14,950

Net Cash Flow

-$3,203

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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Listing Courtesy of:Dean Nelson
Agent License 352497
eXp Realty
Certified Agent Brokerage:Mel Priess
Roofstock Realty LLC - TN
TN Brokerage License 263679
SourceRealTracs
MLS #2571003
Last Updated: 09/14/2023 20:09
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