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투자 내용(아래)

 ,$900+/mth cash flow and $165k in equity
OCCUPIED, DO NOT DISTURB!!!

3 great properties in a row, right next to each other, side by side, on Faxon (38104). 2 are sfh and 1 is a duplex. (1341 & 1351 are sfh and 1347 is the duplex)


They have a combined value of roughly $303,000.00 and I am selling the total package for only $138,000.00 right now, before I change my mind and ask for more.  That is a whooping $165,000.00 in equity.  Only .45 cents on the dollar for occupied property in an appreciating neighborhood, you can’t beat that.  Here is my phone # now (901) 212-7246

 

You can get them separately.  1341(needs minor rehab) for $46,000.

1347 (occupied duplex) for $49,000.

1351 (occupied sfh) for $49,000. 

 

1341 is vacant, but it used to rent for $625/mth and at that # I estimate the cash flow to be $206/mth with an estimated PITI of 419.  The rents on this should be $675-725 so your new cash flow will be at least $256/mth (this house needs minor rehab, which I can take care of for you)

 

1347 is an occupied duplex and has had the same tenants on both sides for 12 long years.  The total rent is $975/mth so you should have instant cash flow of $388/mth with an estimated PITI of $587

 

1351 is an occupied sfh.  The tenant has been there 2 years and pays $725/mth, so you will have instant cash flow of $279/mth and an estimated PITI of 446.  The rents on this deal should be $725-800

(for the new people reading this, PITI is your mortgage payment + tax and insurance)

Here are some comps so close, I can hit a golf ball to them:


 

 

Shelby County Comparables Report again these houses are all less than 200 yards away. 

Prepared 3/21/2008 on CHANDLERREPORTS.COM by John Skaggs Properties


--------------------------------------------------------------------------------

Address

 

 Sale
Date

 

 Selling
Price

 

 Mtg. Amount

 

 Price/
SqFt

 

 SqFt

 

 B R

 

 Bth

 

 
 

 
1326 FAXON
 09/24/07
 $105,000
 

 

 
 $79.13
 1327
 2
 1.0
 
 

 
1366 TUTWILER
 06/18/07
 $110,000
 

 

 
 $74.83
 1470
 3
 1.0
 
 

 
1496 SNOWDEN
 06/08/07
 $137,000
 $123,300
 $88.50
 1548
 2
 2.0
 
 

 
1375 TUTWILER
 05/29/07
 $118,500
 $106,650
 $95.87
 1236
 2
 1.0
 
 

 
1458 FAXON
 04/06/07
 $125,000
 $125,000
 $70.42
 1775
 3
 1.0
 
 

 


MORE COMPS IN THE AREA:

 



 

Prepared 3/21/2008 on CHANDLERREPORTS.COM by John Skaggs Properties


--------------------------------------------------------------------------------

Address

 

 Sale
Date

 

 Selling
Price

 

 Mtg. Amount

 

 Price/
SqFt

 

 SqFt

 

 B R

 

 Bth

 

 
 

 
1326 FAXON
 09/24/07
 $105,000
 

 

 
 $79.13
 1327
 2
 1.0
 
 

 
1366 TUTWILER
 06/18/07
 $110,000
 

 

 
 $74.83
 1470
 3
 1.0
 
 

 
1496 SNOWDEN
 06/08/07
 $137,000
 $123,300
 $88.50
 1548
 2
 2.0
 
 

 
1375 TUTWILER
 05/29/07
 $118,500
 $106,650
 $95.87
 1236
 2
 1.0
 
 

 
1458 FAXON
 04/06/07
 $125,000
 $125,000
 $70.42
 1775
 3
 1.0
 
 

 
345 MALVERN
 02/06/08
 $113,000
 

 

 
 $74.15
 1524
 3
 1.0
 
 

 
796 MCNEIL N
 11/09/07
 $125,000
 $118,750
 $102.38
 1221
 2
 1.0
 
 

 
870 MCNEIL N
 11/06/07
 $130,000
 $130,000
 $97.74
 1330
 3
 2.0
 
 

 
839 MCNEIL N
 08/27/07
 $137,000
 $137,000
 $95.60
 1433
 2
 2.0
 
 

 
739 GARLAND
 07/19/07
 $140,000
 $133,000
 $92.35
 1516
 2
 2.0
 
 

 
893 GARLAND
 05/30/07
 $130,000
 $117,000
 $98.86
 1315
 2
 1.0
 
 

 
801 MAURY
 03/07/08
 $135,000
 $135,000
 $96.84
 1394
 2
 1.0
 
 

 
715 AVALON N
 03/05/08
 $138,000
 $136,918
 $116.85
 1181
 2
 1.0
 
 

 
766 BELVEDERE N
 01/31/08
 $127,500
 $121,125
 $90.75
 1405
 3
 1.0
 
 

 
746 EVERGREEN N
 01/11/08
 $130,500
 $130,500
 $81.06
 1610
 2
 1.0
 
 

 
740 EVERGREEN N
 12/14/07
 $128,000
 $121,600
 $77.91
 1643
 3
 1.0
 
 

 
1700 TUTWILER
 11/21/07
 $165,000
 $163,706
 $102.29
 1613
 3
 1.0
 
 

 
585 AVALON N
 11/21/07
 $99,000
 $98,223
 $66.49
 1489
 2
 2.0
 
 

 
663 AUBURNDALE N
 11/12/07
 $129,900
 $123,400
 $115.57
 1124
 2
 2.0
 
 

 
672 AVALON N
 11/12/07
 $179,900
 $161,900
 $106.89
 1683
 3
 1.0
 
 

 


 


Sale Price

 

 
 Square Feet

 

 Price Per Sq Foot

 

 
Minimum: $99,000
 Minimum: 1,124
 Minimum: $66.49
 
Maximum: $179,900
 Maximum: 1,775
 Maximum: $116.85
 
Average: $130,165
 Average: 1,442
 Average: $91.2
 

 

I estimate the values as:
1341 faxon (1204sqft) = $91k
1347 faxon (2178sqft) = $97k

1351 faxon (1528sqft) = $115k

 

 

 

Please call John Skaggs now @ (901) 212-7246 to request pics or to make an appointment.  (I do not have pics of the inside of the occupied properties as the tenants do not know about the sale yet)

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