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3004 Carnes Ave, Memphis, TN 38114

Totally Brand New Turnkey Rental Property! Near U Of M

Status: SOLD
Purchase Price: $78,000
Property Type: Single Family
Beds/Baths: 3 beds, 1 1/2 baths
Square Feet: 1,540 sqft
Lot Size: .5640 Acres
Year Built: 1955
Occupancy Status: Rented- Sec 8 1 yr lease

PROPERTY DESCRIPTION

This is a 3 Bedroom 1 1/2 bath home located near U of M, Recently remodeled inside and outside includes paint, New windows, toilet, hot water tank, New HVAC, NEW ROOF, ceramic tile in kitchen, Den, Laundry room and bathrooms, plank hard wood floors, wrought iron outside doors, new plumbing, new electrical, new light fixtures, and many many more. Built- 1955 Currently Rented for $850 a Month- Sec 8 1 yr lease Property Management Fee $68 a Month CITY and COUNTY TAXES ONLY – $68.84 a Month Insurance Quote -$34.25 a Month Vacancy- $65.00 Maintenance- $55.00 CAP EX- $35.00 ROI- 14.68% If purchased all cash no Mortgage you would expect to CASH FLOW- $523.91

  • 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.
  • Our sister company DCC RENTALS LLC can manage this property for you with ease 8% management fee which is negotiable if you allow us to manage more properties in your investment portfolio call 901-212-4476 •
  • 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.

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Memphis Buy And Hold is specializing in locating, purchasing, renovating and managing single-family and multi-unit properties and possesses from 2007 up to the present of experience in real estate investing and property management in the Memphis and Nashville markets.

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