Attention Investors: LOCATION, LOCATION, LOCATION in the heart of Pigeon Forge!!

The old real estate adage is always appropriate, and never more so than with this 6 unit town home building in Pigeon Forge. Literally just one mile from the heart of Pigeon Forge (traffic light number 3 on the Parkway which is the intersection of US Highways 321 and 441), these town homes feature 3 bedrooms, and 2 or 3 baths with all city utilities. As you can see below, the return for a savvy investor can be astounding. Here are the numbers an investor could achieve:

Projected Income:
Four 3 bedroom, 3 bath units at $1,000/month = $4,000 income monthly
Two 3 bedroom, 2 bath units at $900/month    = $1,800 income monthly
Total Projected Gross Income                          $5,800 monthly

Less Projected Expenses:
Property Insurance                                             =  $400 monthly
Property Taxes                                                   =  $214 monthly
Miscellaneous Expenses (repairs, etc.)              =   $200 average monthly
Total Projected Expenses                               =   $814 monthly

Projected Net Income            = $4,986 monthly

As you can see, we can estimate net income of almost $5,000 per month if the building is fully occupied!

Based on the above assumptions (which are very reasonable but of course cannot be guaranteed) and an asking price of only $535,000 (which is well below appraisal or replacement cost), the net cash on cash return on this investment could be a little over 11%, an excellent return indeed! This projected rate doesn't even factor in the tax advantages of owning rental property or the potential for appreciation of the property's value. If you don't want to ever meet a renter or even touch the property, hire us to professionally manage it and you can still net just under 10% and have a totally hands off investment!

Renters can walk or bike to work in Pigeon Forge, if they want to! For more pictures of this money making investment property and to see how the units are marketed to renters, please click here. To view this excellent investment property, please contact us!!


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