Hybrid Creative Deal in Cordova, TN (Memphis) 17 years into Mortgage, plus principal only pymt_ Neighborhood Lake.
PHOTOS & VIDEO: https://drive.google.com/drive/folders/1X5FhrkpRlaN50BoU8hq_-DHx4mrzXGTe
Hybrid Creative Deal in Cordova, TN 38108 (Memphis)
-17 years into Mortgage, plus principal only payments
-Access to private Neighborhood Lake
-4 bedrooms / 3.5 baths / 2,678 sqft and .34 acre built in 1974 large house on a big lot, really nice neighborhood
-Roof- 8-10 years or less
-HVAC- outside condensers need replaced, 2 units
-ARV $360,000
-Priced at $275,000
-Down payment $49,000
-Mortgage Balance : $126,000
-Approximate balance Payment Mortgage $1241.51 PITI interest rate 4.25%, loan originated 2007 (17 years ), 84 months balloon
-Seller Carry $100,000 $400/mo principal only ($33,600), 84 months balloon remaining is $66,400.
-HOA-$300/year
-Market Rent- $2400 or Lease with Option Rent $2650
Comps:
204 Ericson Rd, Cordova, TN 38018 5 bd 3ba2800 sqft Sold: $355,000 on 03/11/24 1
87 Leif Cv W, Memphis, TN 38018 4 bed 2.5 bath 2600 sqft Sold 3/2024 for 359,900
Closing with Apperson Crump
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Equitable Interest