Ready to Rent Nashville home with good cashflow! [code 6180]
- Beautiful 3 bedroom 2.5 bath home
- Highly sought after neighborhood
- Fenced large backyard with wood deck
- No (low) crime area
- Over $550/mo. cash flow!
- New Carpet and paint
- Corner property in quiet residential neighborhood
- Attached 2-car garage
- Large wooded lot
Why should you consider this house / what makes it a good investment?
- Built: 2007
- Size: 2,042 sq ft
- Quiet residential street, Desirable community, good schools
What's next?
Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.
Metro: Nashville
Team: Fred – email directly at nash1@simplydoit.net
Code: 6180
| Property Specifications | 1 |
| Bedrooms | 3 |
| Bathrooms | 2.5 |
| Square Feet | 2042 |
| Year Built | 2007 |
| Garage Size | 2 |
| Schools Rating (on scale of A-F) | B |
| Purchase Assumptions | My Offer |
| Offer used for analysis | $339,900 |
| Suggested offer (low) | $329,700 |
| Suggested offer (high) | $344,900 |
| Asking | $339,900 |
| Market Value (after improvements) | $303,000 |
| Improvements (lower) | $1,500 |
| Improvements (upper) | $2,500 |
| Closing Costs | $3,399 |
| Mortgage Costs | $3,399 |
| Other Fees At Closing | $0 |
| Total Cost | $348,698 |
| Financial Assumptions | Monthly | Yearly | ||
| Rent (upper) | $2,300 | $2,400 | $28,800 | |
| Rent (lower) | $2,200 | $26,400 | ||
| Property Tax Rate (Approx.) | 1.4% | |||
| Property Taxes | $125 | $1,500 | ||
| Insurance | $120 | $1,440 | ||
| Repairs | $70 | $840 | ||
| Variable-Cost PM | 8.0% | |||
| Property Management Fee | $184 | $2,208 | ||
| Leasing Fee | 50% | $47.9 | $575 | |
| HOA | $0 | $0 | ||
| Vacancy Rate | 4.0% | |||
| Total Fixed Expenses | $632 | $7,579 | ||
| Total Expenses (Fixed + Mortgage) | $1,812 | $21,746 | ||
| Financial Analysis / Deal Attractiveness | |||||
| Years: | 5 | 10 | 15 | 20 | |
| Cap Rate | 7.1% | 8.3% | 9.5% | 10.8% | |
| Net Cash Flow | $33,356 | $77,556 | $133,729 | $203,122 | |
| Equity Increase | $90,941 | $201,313 | $335,268 | $497,849 | |
| Total Gain | $124,297 | $278,869 | $468,998 | $700,971 | |
| Average Cash Flow/Year | $6,671 | $7,756 | $8,915 | $10,156 | |
| Average Cash Flow/Month | $556 | $646 | $743 | $846 | |
| Average Gain/Year | $24,859 | $27,887 | $31,267 | $35,049 | |
| Average ROI | 132.6% | 297.4% | 500.1% | 747.5% | |
| Annual ROI | 26.5% | 29.7% | 33.3% | 37.4% | |
| Projected Property Value | $368,646 | $448,514 | $545,686 | $663,910 | |
| Property Ratings Suggestions | |||||
| Item | Suggested Criteria (Min.) | This Property | FAVORABLE / INSUFFICIENT |
||
| Schools | B | B | FAVORABLE | ||
| Square Feet | 1000 | 2,042 | FAVORABLE | ||
| Bedrooms | 3 | 3 | FAVORABLE | ||
| Bathrooms | 2 | 2.5 | FAVORABLE | ||
| Year Built | 1970 | 2007 | FAVORABLE | ||
| Rent/Price (%) | 0.75% | 0.71% | INSUFFICIENT | ||
| Average Cash Flow (at year 5) | $125 | $556 | FAVORABLE | ||
| Average ROI (at year 5) | 15% | 26.5% | FAVORABLE | ||
Disclaimer
Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.
The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info.