1003 Garland St, Memphis, TN 38107
Great location wholesale turnkey rental property!!!
This is a 3 Bedroom 2 bath home located in Midtown area of Memphis TN, 1250 Square Feet. Close to new construction Sears Tower. Recently remodeled includes paint, ceramic tile in kitchen and bathrooms, hard wood floors, wrought iron outside doors. Currently tax Assessed $68,400!!!!!
List Price – $39,900.00
Currently Rented for $622 a Month
Property Management Fee $50 a Month
Property Taxes- $105.25 a Month
Insurance Quote -$50 a Month
CAP EX- $50.00
If purchased all cash no Mortgage you would expect to CASH FLOW- $266.75
Stated gross returns and cash flow do not take into account vacancy and repairs that WILL happen over time. All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.