8 Bedroom Rental House - Walk to UT Campus - Fort Sanders

Multi-Family for Sale
Catylist Listing ID: 30294461
Property Subtypes: Low-Rise/Garden, Student Housing, Other
Number of Units: 8 Units
Building Size (RSF): 2,760 SF
Gross Building Area: See Agent
Gross Land Area: 4,975 SF
Sale Price: $465,000
Unit Price: $58,125 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/11/2018

Overview / Comments

8 BEDROOM RENTAL HOUSE - IN A GREAT FORT SANDERS LOCATION - WALK TO UT CAMPUS! 2200 Laurel, adjacent corner home is available as well. Can be bought together or separately. 2202 is Currently leased through July 31, 2018, a shortage of whole house rentals near the University of Tennessee main campus at Knoxville makes for a strong rental history and a bright future. Plus the tenants pay all the utilities including water and sewer charges. Square footage is from tax records, is not guaranteed, and should be verified by buyer.
Exit Alcoa Hwy at Kingston Pike & turn toward downtown onto Cumberland Ave. Turn left on 22nd Street. Property is one house over from the SW corner of Laurel Ave & 22nd St. Laurel is one way, park on 22nd to take alley to rear of home. No sign on the property. Do not disturb tenants. Extra time may be needed to schedule showings for occupied bedrooms.

Financials

Finance Data Year 2018
Potential Rental Income $45,600 (Annual)
Net Operating Income $37,690 (Annual)
Actual or Proforma Year Proforma
Lender Name New loan
Loan Amount $372,000
Down Payment $93,000
Annual Debt Service $29,460 (Annual)
Interest Rate (APR) 5
Amortization Period 20 years

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knox County
Tax ID/APN: 108CA00701

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,613 82,832 162,684
Median Age: 21.59 31.65 34.97
Households: 3,663 34,046 69,564
The information presented herein is provided as is, without warranty of any kind. Neither Knoxville Area Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.