57 W Frank Ave

Hi, I'm an individual virtual wholesaler and I’m reaching out with a Memphis rental property currently under contract and available for assignment. This is an ideal fit for turnkey providers and institutional aggregators looking for a fast-turnaround, high-yield asset: Property: 57 W Frank Ave, Memphis, TN 38109 Specs: 3 Bed / 1 Bath | 1,147 Sq Ft | Lot 8,232 Sq Ft Occupancy: CURRENTLY VACANT Status: Zero Near-Term Exterior CapEx Risk. The entire exterior is fully renovated (brand new roof, siding, windows, and paint completed in 2026). The interior is completely gutted and framed, ready for new systems. The "Blank Canvas" Advantage: Because the interior is already taken down to the studs and framed out, your crews can run new plumbing, electrical, and HVAC lines effortlessly. No drywall demolition is required, significantly reducing your labor hours and construction timeline. FINANCIALS: Assignment Price: $65,000 Estimated Rehab: ~$40,000 (Institutional buyers with in-house crews may complete closer to ~$30,000) Total All-In: ~$105,000 (Yields a highly profitable spread against a backend resale potential of $130K+ after tenant placement. An EMD needs to be deposited within 48 hours of assignment of contract. Gross Rent Income: $1,050/mo ($950–$1,150 range) | Strong candidate for stable Memphis Housing Authority (Section 8) vouchers. NOI: ~$600/mo | ~$7,200/year Yield: 12%–12.8% 1% Rule: Passes with margin — 1.00%–1.07% Repairs Needed (Scope of Interior Work): Electrical rewiring + breaker panel Plumbing replacement (lines, drains, fixtures) HVAC installation (new furnace + AC) Insulation + drywall finishing Flooring installation Kitchen remodel (cabinets, countertops, appliances) Bathroom remodel Interior paint + tile work This property is a blank canvas for a maintenance-free rental once systems are installed. Property is under contract; equitable interest is available for immediate assignment. Cash or Hard Money only. Fast close preferred. Best regards, Shivam