6 Bedroom Rental House - Walk to the Univ of TN

Multi-Family for Sale
Catylist Listing ID: 30322290
Property Subtypes: Low-Rise/Garden, Student Housing
Number of Units: 6 Units
Building Size (RSF): 1,582 SF
Gross Building Area: See Agent
Gross Land Area: 7,250 SF
Sale Price: $315,000
Unit Price: $52,500 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/18/2018

Overview / Comments

6 BEDROOM RENTAL HOUSE - IN A GREAT FORT SANDERS LOCATION - WALK TO UT CAMPUS! Several similar properties in Fort Sanders from the same seller are available as well and they can be purchased together or separately. Currently vacant, previously leased at $3000/month, 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 17th Street. Turn left on Highland Ave. Property is on the right.

Financials

Finance Data Year 2018
Potential Rental Income $36,000 (Annual)
Net Operating Income $29,252 (Annual)
Actual or Proforma Year Proforma
Lender Name New loan
Loan Amount $236,250
Down Payment $78,750
Annual Debt Service $19,500 (Annual)
Interest Rate (APR) 5.50
Amortization Period 20 years

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 094NM027

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,887 83,917 158,732
Median Age: 23.04 31.62 35.1
Households: 4,840 34,352 67,875
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.