1843 Leyton Cove, Memphis, TN 38127

Single Family / 5 Bedroom(s) / 3 Bath(s)

Property Status:  Sold | $125,000.00 (Wholesale) | 

Property Photos

Great Frayser neighborhood rental property or flip finish available now

Property Status:
Sold | $125,000.00 (Wholesale)
Property Details:
Single Family / 5 BR / 3 BA
Property Style:
Year Built:
Finished Sq Ft:
No Basement
Owner / Agent:
Property Features:
No Property Features Listed.
Contact Info
Pacific Escapes Real Estate, Inc
(619) 373-0500

View on Individual's Website
Property Description:
List of Seller completed updates within the last 2 years:
New roof
Sofit and Fascia Painted
Interior paint
New Water Heater
Updated plumbing
Updated Electrical
New kitchen cabinets
New interior doors and trim

Items Left to finish out:
Kitchen counters, sink, and appliances (cabinets are already installed)
New flooring
If you wanted to update the bathrooms you could paint the wall tile and tub surround, replace the sink and toilets
Paint the garage
Clean up the yard

There is a waitlist for 4+ bedroom properties and the minimum rent for that size house is $1500/mo
This one is a 5 bedroom 3 bathroom house

Price is 125,000
Value in rental is much higher:

125,000 purchase price
10,000 repair completion costs
Total - 130,000

Financed with 20% down
30,000 cash for a downpayment and CC
8,192 yearly PI payments
18,000 gross rent annually
5,200 annual operating expenses (tenants pay all utilities)
NOI $12,800

Cash on Cash year 1 = 13.83%
House is vacant.
Call Alissa to schedule a walk-through appointment 612-227-1343

Legal Disclaimer:
This is a Wholesale Deal. The investor is not selling the property for the seller. The investor has the right to market the property, list the property on the MLS (Multiple Listing Service) and advertise the property on any online or offline marketing source as investor choses in order to find a prospective buyer to assign this contract to for an assignment fee.

San Diego Creative Investors Association is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.

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