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