Carpenter St
Memphis, TN 38112

1530 sq. ft., 3 bedroom / 2 bathroom

Carpenter St</br> Memphis, TN 38112
Carpenter St</br> Memphis, TN 38112
Carpenter St</br> Memphis, TN 38112
Carpenter St</br> Memphis, TN 38112
Carpenter St</br> Memphis, TN 38112
Carpenter St</br> Memphis, TN 38112
Carpenter St</br> Memphis, TN 38112
Carpenter St</br> Memphis, TN 38112
Carpenter St</br> Memphis, TN 38112

Property Information

Current Status Occupied
Lease Start Date 01/03/2023
Lease End Date 01/31/2024
Utilities Paid by Tenant
Initial Investment* $28,920

*Includes down payment plus $3,000 of closing costs

Purchase Price $120,000

Current Rent $995
Cap Rate 9%
Cash on Cash Return* 34%
Net Cash Flow Per Month* $255

*Assuming 20% down with a loan at 2PTS + 6.625% interest for 30 years. Including equity build up and 3% appreciation per year.

About This Property

New kitchen cabinets, new kitchen countertop, new vent hood, 2 new bathroom vanities, new bathtub, new shower fixtures & paneling, new toilet, new LVP flooring throughout including quarter round and floor prep, complete interior paint, new hot water tank, 2 new doors, 13 new window blinds, new ceiling fans in bedrooms, new framing in attic for new stairs for attic access plus new attic floor to hold new furnace, new evaporator and new ductwork, new gas line to attic for furnace, new vent thru attic for furnace, install furnace, evaporator, condenser, new furnace ductwork, 9 new light fixtures throughout, new electrical outlets & switches, new fire alarm & CO detectors, repaired house roof, paint exterior fascia and soffits/sidings, new exterior lights, pressure wash exterior.

Financing Options

MartelTurnkey has partnered with some of the top lenders that provide a wide range of financial solutions to meet your Rental investing needs. Talk to an Advisor to learn more or visit our partner to get pre-approved.

Property Management Company

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Investment Terms

Purchase and Sale Agreement (PSA): A PSA will be delivered electronically once an agreement has been made and must be executed by Buyer within 24 hours of receipt.
Earnest Money Deposit (EMD) of $1,000 must be wired to the Title Company within 3 days of PSA signing.
Appraisal Contingency is available for financed properties, and will be waived automatically if the property appraises for the sale price. If it does not appraise for the sale price, then the Buyer and Seller will have the opportunity to come to terms or the Buyer can cancel the contract.
Closing Date: The Closing Date will occur within 15 days of PSA execution for cash transactions and 45 days of PSA execution for financing unless otherwise agreed by Buyer and Seller.
Lease Agreement: The current lease agreement will be provided to Buyer at Closing.
Closing Costs: Closing costs shall be paid based on local custom, and will include discounts negotiated by Martel TurnKey to lower transaction costs for Buyers and Sellers. Actual closing costs will be outlined on the final settlement statement.

Buying Process

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