Currently Occupied Through Sept 2026
Cordova, TN 38016
2bd • 2ba • Built: 1993
| Projected Income | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Projected Rent | $15,540 | $16,006 | $16,486 | $16,981 | $17,490 | $18,015 | $18,556 | $19,112 | $19,686 | $20,276 |
| Vacancy Losses | ($1,243) | ($1,280) | ($1,319) | ($1,358) | ($1,399) | ($1,441) | ($1,484) | ($1,529) | ($1,575) | ($1,622) |
| Operating Income | $14,297 | $14,726 | $15,167 | $15,622 | $16,091 | $16,574 | $17,071 | $17,583 | $18,111 | $18,654 |
| Estimated Expenses | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Property Taxes | ($1,650) | ($1,700) | ($1,750) | ($1,803) | ($1,857) | ($1,913) | ($1,970) | ($2,029) | ($2,090) | ($2,153) |
| Insurance | ($900) | ($927) | ($955) | ($983) | ($1,013) | ($1,043) | ($1,075) | ($1,107) | ($1,140) | ($1,174) |
| Management Fees | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Leasing/Advertising Fees | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Association Fees | ($468) | ($482) | ($497) | ($511) | ($527) | ($543) | ($559) | ($576) | ($593) | ($611) |
| Maintenance | ($932) | ($960) | ($989) | ($1,019) | ($1,049) | ($1,081) | ($1,113) | ($1,147) | ($1,181) | ($1,217) |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Operating Expenses | ($3,950) | ($4,069) | ($4,191) | ($4,317) | ($4,446) | ($4,580) | ($4,717) | ($4,858) | ($5,004) | ($5,154) |
| Income Analysis | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Net Operating Income | $10,346 | $10,657 | $10,976 | $11,306 | $11,645 | $11,994 | $12,354 | $12,725 | $13,107 | $13,500 |
| - Mortgage Payments | ($7,031) | ($7,031) | ($7,031) | ($7,031) | ($7,031) | ($7,031) | ($7,031) | ($7,031) | ($7,031) | ($7,031) |
| = Cash Flow | $3,315 | $3,626 | $3,945 | $4,275 | $4,614 | $4,963 | $5,323 | $5,693 | $6,075 | $6,468 |
| + Principal Reduction | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| + Appreciation | $9,000 | $9,540 | $10,112 | $10,719 | $11,362 | $12,044 | $12,767 | $13,533 | $14,345 | $15,205 |
| = Gross Equity Income | $12,315 | $13,166 | $14,058 | $14,994 | $15,976 | $17,007 | $18,090 | $19,226 | $20,420 | $21,674 |
| Capitalization Rate | 6.5% | 6.3% | 6.1% | 6.0% | 5.8% | 5.6% | 5.5% | 5.3% | 5.2% | 5.0% |
| Cash on Cash Return | 6.4% | 7.0% | 7.6% | 8.3% | 8.9% | 9.6% | 10.3% | 11.0% | 11.7% | 12.5% |
| Return on Equity | 26.5% | 23.5% | 21.3% | 19.5% | 18.1% | 17.0% | 16.0% | 15.2% | 14.5% | 13.9% |
| Loan Analysis | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Market Value | $159,000 | $168,540 | $178,652 | $189,372 | $200,734 | $212,778 | $225,545 | $239,077 | $253,422 | $268,627 |
| - Loan Balance | ($112,500) | ($112,500) | ($112,500) | ($112,500) | ($112,500) | ($112,500) | ($112,500) | ($112,500) | ($112,500) | ($112,500) |
| = Equity | $46,500 | $56,040 | $66,152 | $76,872 | $88,234 | $100,278 | $113,045 | $126,577 | $140,922 | $156,127 |
| Loan-to-Value Ratio | 70.8% | 66.7% | 63.0% | 59.4% | 56.0% | 52.9% | 49.9% | 47.1% | 44.4% | 41.9% |
| Potential Cash-Out Refi | $30,600 | $39,186 | $48,287 | $57,934 | $68,160 | $79,000 | $90,490 | $102,669 | $115,580 | $129,264 |
| Sale Analysis | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Equity | $46,500 | $56,040 | $66,152 | $76,872 | $88,234 | $100,278 | $113,045 | $126,577 | $140,922 | $156,127 |
| - Closing Costs | ($11,130) | ($11,798) | ($12,506) | ($13,256) | ($14,051) | ($14,894) | ($15,788) | ($16,735) | ($17,740) | ($18,804) |
| = Proceeds After Sale | $35,370 | $44,242 | $53,647 | $63,616 | $74,182 | $85,383 | $97,256 | $109,842 | $123,182 | $137,323 |
| + Cumulative Cash Flow | $3,315 | $6,941 | $10,886 | $15,160 | $19,774 | $24,737 | $30,060 | $35,753 | $41,829 | $48,297 |
| - Approximate Cash Invested | ($51,750) | ($51,750) | ($51,750) | ($51,750) | ($51,750) | ($51,750) | ($51,750) | ($51,750) | ($51,750) | ($51,750) |
| = Net Profit | ($13,065) | ($567) | $12,783 | $27,026 | $42,207 | $58,370 | $75,566 | $93,845 | $113,261 | $133,870 |
| Internal Rate of Return | -25.2% | -0.6% | 8.1% | 12.0% | 14.0% | 15.1% | 15.7% | 16.0% | 16.2% | 16.2% |
| Return on Investment | -25.2% | -1.1% | 24.7% | 52.2% | 81.6% | 112.8% | 146.0% | 181.3% | 218.9% | 258.7% |
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.