This is a great rental in the heart of what is a very stable rental market. There is consistent demand from the University of Tennessee, and the property is in good condition. This property is currently producing an annual rent of $44,280.00 dollars, and is fully leased for the 2012/2013 school year. Lease s are on a 12 month rotation and most are combined with parental guarantees on the rent. The Net Operating Income for the property is currently $34,546.00 annually; making this property better than a 10pct. cap. rate at its listing price. A good opportunity that shouldn t last long!!
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