Turnkey Rental
*** ********* ***, ********, TN
13.45% return
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Property Description

Great 5plex!

Renovated apartments. 3 x 2bed/1bath and 2 x 1bed/1bath units. Beautiful area, in the mountains! All brick. Separate electric and water meters. Rents need to be increased, as they are rented below market. Huge rental demand in the area. Do not miss out on this opportunity.

Property management in place. Financing is available!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units5
  • Total bedrooms8
  • Total bathrooms5
  • Building size3850 sq. ft.
  • Lot size0.8 acres
  • Year built1966
  • County******** County
  • Subdivision********** *********
  • ConstructionBrick
  • RoofShingle
  • Water sourceCity water
  • Water disposalSeptic
  • HeatingWall unit
  • CoolingWindow A/C

Property Financial Summary

  • Sale price $180,000
  • Estimated rehab 1 $0
  • Total investment $180,000
  • Type Proforma
  • Gross income (annually) $30,600
  • Operating expenses (annually) $6,388
  • Net income (annually) $24,212
  • Gross return 17.00%
  • Gross income (monthly) $2,550
  • Operating expenses (monthly) $532
  • Net income (monthly) $2,018
  • Net return 13.45%

Property Income & Expenses

  • Income
  • Unit 1: 2 bed / 1 bath $550/month $6,600/year
  • Unit 2: 2 bed / 1 bath $550/month $6,600/year
  • Unit 3: 2 bed / 1 bath $550/month $6,600/year
  • Unit 4: 1 bed / 1 bath $450/month $5,400/year
  • Unit 5: 1 bed / 1 bath $450/month $5,400/year
  • Total $2,550/month $30,600/year
  • Expenses
  • Waste Collection $111/month $1,332/year
  • Insurance $171/month $2,056/year
  • Water bill $20/month $240/year
  • Electric bill $40/month $480/year
  • Property Management $190/month $2,280/year
  • Total $532/month $6,388/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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