2375 Douglass Ave, Memphis TN, 38114
Price
Listing Tags
—
Beds
9
Size
1319 sqft
Type
Single Family
Overview
Recently renovated 4-bedroom, 2-bath home located in the historic Orange Mound area of Memphis. Offering approximately 1,319 square feet of living space. Its affordability, bedroom count, and convenient access to employment centers, public transportation, healthcare, and community resources make it an attractive opportunity for sober living operators seeking to establish or expand recovery housing in the Memphis market.
Lease and Income Structure
Recently renovated 4-bedroom, 2-bath home located in the historic Orange Mound area of Memphis. Offering approximately 1,319 square feet of living space. Its affordability, bedroom count, and convenient access to employment centers, public transportation, healthcare, and community resources make it an attractive opportunity for sober living operators seeking to establish or expand recovery housing in the Memphis market.
Property Financials
Bed Data
Shared Beds
9
Total Beds
9
Vacancy Rate (estimated)
20%
House Mentors
0.7
Revenue-Producing Beds
6.30
Weekly Rent
$170.00
Intake Fee
$200.00
Revenue (Annual)
Total Potential Rent Income
$79,560.00
Less: Vacancy & Loss
$15,912.00
Less: Mentor Rent Credit
$6,188.00
Plus: Intake Fee Revenue
$2,800.00
Plus: Laundry Service Revenue
$1,456.00
Total Revenue
$61,716.00
Expenses (Annual)
Operating Expenses
$9,981.00
Property Insurance
$2,600.00
Operator Compensation
$24,000.00
Valuation
Capitalization Rate
8.50%