$65,000
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This 1998 Bellcrest manufactured home in Kodak, Tennessee, has 1,685 square feet of interior area, three bedrooms, and two bathrooms. It is a home-only sale; the home will remain on its rented lot after the sale. The listing states that the property is ready immediately and is not for rent.
The home is described as 1 1/2 wide and has covered porches at both the front and rear. It is in an established, secluded neighborhood. The listed lot size is 1 square foot; the description also characterizes the lot as very large. Parking is listed as none.
Electric service is through Appalachian Electric Coop, and water service is through Shady Grove Utility District. Viewings are available upon request.
The asking price is $65,000. The seller says a cash purchase may be needed and doubts the home will qualify for a loan, while also noting that financing options exist. The listing gives a cash-on-cash return of 381.44% and a capitalization rate of 12.34%, with the figures associated with a period of over 20 years. These figures are not presented as guaranteed returns.
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