194 E Biscayne RdMemphis, TN 38109

Description

VA/FHA Approved home! Seller offering rate buy down on DSCR loans for this property and a 1 year everything warranty also 4 bed, 2 bath brick home in Memphis fully renovated, this property is generating income from day one. No rehab costs, no holding costs while you wait on repairs, just collect the rent checks from the property manager! This home is rented at $1195 on an annual Section 8 lease putting your potential gross yield in the 10-12% range at asking price. (do your own due diligence) Solid numbers for a single-family buy and hold. The brick construction means low exterior maintenance and durability that newer vinyl sided homes can't match. Updates are already done, so your capital goes toward acquiring the asset, not fixing it. Memphis continues to attract investors with its low entry prices, strong rental demand, and landlord-friendly Tennessee laws like no rent control, straightforward eviction process, and no state income tax.

Property Information

Property type

Residential

Sub-type

Single Family Residence

Style

Traditional

Year built

1956

Stories

1

Building area

1,165 Sq Ft

Lot size

0.32 acres

Days on market

110

MLS^® Listing#

10224807

Property Features

Interior

Eat-in Kitchen

Cooling

None

Heating

Central

Flooring

Vinyl

Pool

None

Parking

On Street · Driveway

Patio

Porch

Lot features

Wooded

Construction

Brick Veneer

Financial Details

Annual taxes

$789

Parcel number

050122 00009

Directions

Blues Hwy to Biscayne Rd. E to home