4-Bedroom Rental Investment in Apison, TN - 5.0% Cap Rate

‍

10634 Ferran Way Apison, TN 37302

$450,000 | 4 Bedrooms | 3 Bathrooms | 5.0% Cap Rate

‍I'm Interested in this Property

Listing Description

Listing: Awning - Redfin - Zillow

Located in the highly desirable Hawks Landing neighborhood in Apison, this stunning 4-bedroom, 3-bathroom home is move-in ready and waiting for you. With almost all one-level living, the open floor plan and coffered ceilings create a bright and airy space. The chef's kitchen boasts granite countertops and stainless steel appliances, perfect for entertaining family and friends. The master bedroom features a beautiful tongue and groove ceiling, attached to a spa-like en-suite with a double vanity and separate glass-enclosed shower, providing a luxurious retreat. The upstairs guest suite is perfect for visitors or as a bonus room, complete with a full bathroom and walk-in closet.

This home is perfect for low-maintenance ownership, as it requires no renovations and is equipped with modern appliances and features. The neighborhood offers a community pool, clubhouse, and playground, ensuring tenants have access to all the amenities they need for a comfortable lifestyle. Additionally, the home is located in a desirable area with good schools and has no flood insurance requirement, ensuring peace of mind for tenants with families.

Don't miss out on this opportunity to own your dream investment property in one of the most desirable areas of Apison.

Investment Financials

How much does the home cost?

$450,000  

How much will it earn in rent?

$2,985 per month

‍How much will it cost to renovate?

According to the listing information, this home is move-in ready and requires no renovations. However, the seller has budgeted $1,500 for small touch-ups if needed.

‍How much cash can you take home in the first year?

Based on the provided data, the estimated monthly rent for this property is $2,985, which would result in an annual gross income of $35,820. After deducting operating expenses, the estimated net operating income for the first year is $22,528. If you subtract the estimated mortgage payments of $24,528 for the year, you would have a negative cash flow of $2,000 for the first year. Therefore, you would not be able to take any cash home in the first year.

‍What is the cap rate for this property?

The estimated cap rate for this property is 5.0%.

‍All of the cap rates and returns for this property are estimates and are not intended as a guarantee of income or returns. Every investment has risks. It's important to discuss any investment, returns, regulations, laws and projections with a financial advisor, attorney or another fiduciary.

Why People Rent In Apison, Tennessee

Where is Apison, Tennessee?

Apison is a community located in southeastern Tennessee in the United States. It is situated in Hamilton County, about 15 miles east of Chattanooga, and is part of the Chattanooga Metropolitan Area.

‍What companies are the major employers in and around Apison, Tennessee?

• Volkswagen Chattanooga: Volkswagen Chattanooga is an automotive manufacturing plant located in nearby Chattanooga, Tennessee. The plant employs more than 3,800 people and produces the Volkswagen Passat and Atlas.
• Amazon: Amazon operates a fulfillment center in nearby Chattanooga, Tennessee. The facility employs more than 2,000 people and is responsible for fulfilling orders for customers in the Southeastern United States.
• McKee Foods Corporation: McKee Foods Corporation is a privately-held company that produces snack cakes and other food products. The company is headquartered in nearby Collegedale, Tennessee, and employs more than 6,000 people nationwide.
• Unum Group: Unum Group is an insurance company headquartered in nearby Chattanooga, Tennessee. The company employs more than 10,000 people worldwide and specializes in disability insurance, life insurance, and other related products.
• BlueCross BlueShield of Tennessee: BlueCross BlueShield of Tennessee is an insurance company headquartered in nearby Chattanooga, Tennessee. The company employs more than 6,000 people and provides health insurance coverage to more than 3 million people in Tennessee and surrounding states.
• Erlanger Health System: Erlanger Health System is a non-profit healthcare system headquartered in nearby Chattanooga, Tennessee. The system includes six hospitals and more than 100 outpatient facilities, and employs more than 9,000 people.
• Hamilton County Department of Education: The Hamilton County Department of Education is the public school system serving the greater Chattanooga area, including Apison, Tennessee. The school system employs more than 6,000 people and serves more than 45,000 students in 79 schools.
• Tennessee Valley Authority: The Tennessee Valley Authority (TVA) is a federally-owned corporation that provides electricity for the Tennessee Valley region, including Apison, Tennessee. TVA employs more than 10,000 people and operates numerous hydroelectric and coal-fired power plants throughout the region.

‍What are the demographics of Apison, Tennessee?

• Gender: The population of Apison is roughly evenly split between males and females, with 2,366 males (49.7%) and 2,390 females (50.3%).
• Age: The median age of residents in Apison is 38.9 years. The largest age group in Apison is the 25-44 age range, which accounts for 34.7% of the population.
• Race and ethnicity: The racial makeup of Apison is predominantly White, with 87.5% of the population identifying as White alone. The second-largest racial group in Apison is Black or African American, accounting for 6.3% of the population. Other racial and ethnic groups in Apison include Hispanic or Latino (2.8%), Asian (2.5%), and two or more races (0.8%).
• Education: Approximately 89.1% of residents aged 25 and older in Apison have completed high school or higher, while 26.5% have completed a bachelor's degree or higher.
• Income: The median household income in Apison is $85,833, which is higher than the national median household income of $68,703. The per capita income in Apison is $32,726.

What is the Niche neighborhood grade and school grade in Apison, Tennessee?

According to Niche.com, Apison, Tennessee has an overall grade of A-. This grade takes into account several factors, including the quality of schools, housing, jobs, crime rates, and access to amenities.

In terms of the quality of schools in Apison, Niche.com gives the Apison Elementary School an A rating. This rating is based on factors such as academic performance, teacher quality, diversity, and parent reviews. The school has a student-teacher ratio of 18:1 and serves students from Pre-K through 5th grade.

Apison is also located near several other highly-rated schools, including East Hamilton Middle High School and Westview Elementary School, both of which have received A ratings from Niche.com.

It's important to note that while Niche.com provides a helpful snapshot of a community's overall livability and the quality of its schools, it's always a good idea to do additional research and get firsthand information from locals, school officials, and other community members to get a complete picture of the area.

‍What is the property tax rate in Apison, Tennessee?

According to SmartAsset, the average effective property tax rate in Tennessee is 0.56%, which is lower than the national average. However, the property tax rates for each county in Tennessee vary. For example, Sullivan County has an average effective property tax rate of 0.73%, which is higher than the state average, while Washington County has a median property tax of $1,215 annually, which is lower than the national average.

Therefore, it is recommended that you contact the local tax authority or the Hamilton County Trustee's Office for specific information on property tax rates in Apison, Tennessee.

‍How many rental listings and vacancies are in Apison, Tennessee?

There are currently several rental listings available in Apison, Tennessee.

Rent.com currently has 167 rental listings for houses in Apison, Tennessee.

Zillow also has rental listings for Apison, Tennessee, including three single-family rental listings as of the time of this writing.

What's the average rent in Apison, Tennessee?

The average rent in Apison, Tennessee varies depending on the property type and the source of the information.

Zillow reports that the median rent for all bedrooms and property types in Apison, TN is $2,100.

On the other hand, RentCafe reports that the average apartment rent in Apison is $1,710. The website also indicates that there are 267 or 17% of the households in Apison that are renter-occupied while 1,287 or 83% are owner-occupied.

Rent.com lists 167 houses for rent in Apison, TN, but it does not provide information on the average rent.

It is important to note that the rent prices may vary depending on the location, property type, and amenities, among other factors. It is recommended that you contact local property management companies or landlords for specific information on rental rates in Apison, Tennessee.

From Listing to Rental

1. Place an offer on this property: If you want help finding the best representation, simply submit your information by pressing "I'm Interested in this Property"
2. Close on the property: Closing on this property should be simple. An agent will help you review the contract and confirm that everything in the inspection report makes this a good deal.
3. Hire a property manager to manage your property: If you choose to use Property Management we can help you select the best service and get you a deal on management in the area.