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Properties / TN / Munford / Villages of Green Meadows / 246 Stewart Road
Pending

246 Stewart Road

Munford, TN 38058
5 Bedrooms
3 Baths
2,200 S.F.
0.24 Acres

Buy this property for $369,000 and earn $2,375 per month in estimated rent.

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This featured home represents the floor plan. Actual front elevation, color, and finishes may vary. For more information, please contact a sales agent.

About

Welcome to The Dove – the perfect open-concept plan for you and your family. This plan’s main level offers an expansive family room bathed in natural light throughout the day. Its electric fireplace, with floating cedarwood mantle, provides a cozy focal point. Nearby, the elegantly appointed kitchen features white Shaker cabinets and granite countertops. The main-level primary bedroom provides the perfect, secluded haven to unwind at the end of the day with a beautiful en-suite bathroom and dual walk-in closets. Opposite the primary bedroom are 2 bedrooms and a bathroom. Upstairs, the Dove has an additional bedroom, bathroom, and bonus room.

Features

Flooring:
  • LVP flooring in common areas
  • Carpet in bedrooms
  • LVP flooring in bathrooms
Bathrooms:
  • Marble bathroom countertops
  • Double vanity
  • Separate tub and shower
  • Marble tub
Appliances:
  • Stainless steel dishwasher
  • Stainless steel microwave
  • Stainless steel electric range
  • Garbage disposal
  • EnergyStar™ rated appliance package
Kitchen:
  • Granite countertops
  • Eat-in kitchen
  • Kitchen island
  • Open floor plan
  • Kitchen/family room view
Construction:
  • New construction
  • Detached Single Family
  • 9' or 10' ceilings
  • Vaulted/coffered ceilings
  • Traditional architecture
  • Low emissivity windows
  • Garage doors and openers
Climate:
  • Electric Fireplace
  • Contemporary mantle
  • Central heating
  • Central air
  • Ceiling fans
  • Smart Hub 3® technology
Exterior:
  • Brick veneer exterior
  • Two-car attached garage
  • Backyard patio
  • Landscaped yard
  • Concrete driveway
  • Curbs and sidewalks

FIGURES

Buy for $369,000
Rents for $2,375
5 Bedrooms
3 Baths
2,200 S.F.
Floor Plan: Dove
Elevation D
2 Levels
0.24 Acres
Built in 2023
2 Garage Spaces

ROOMS

  • 5 Bedrooms
  • 3 Baths
  • Entrance foyer
  • Laundry room
  • Family room
  • 2-car garage

eDUCATION

School District:
High School:
Middle School:
Elementary School:
School Rating:

utilities

  • Electricity connected
  • Natural gas connected
  • Public Sewer connected
  • Public Water connected

Investor Specials

  • Stainless steel refrigerator
  • Fenced back yard
  • 2" faux wood blinds

Investor Incentives

Contact Brian Conlon to learn about investor incentives not advertised online. Call Brian at (760) 798-3095 or email [email protected].

lOCATION

  • A suburb in Tipton County with 6,500 residents and a strong sense of community.
  • Home to the annual Munford Fall Festival, a day-long celebration featuring art, music, and local flavors.
  • A 40-minute drive to Ford’s BlueOval City and 10 miles from Millington, Tennessee, the region’s commercial center.
  • A 20-minute drive to emergency care at Baptist Memorial Hospital-Tipton.
    • County:
    Tipton
    City:
    Munford
    State:
    TN
    Zipcode:
    38058
    Community:
    Villages of Green Meadows
    Lot:
    411

    Get Directions

    Finances

    Sales Price:
    $369,000
    Annual HOA:
    $300 [ $25.00 per month]
    Annual Insurance Premium:
    $765

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    INVESTOR CALCULATOR

    PROPERTY INCOME AND OPERATING EXPENSE DATA
    ?
    Enter the Monthly Rent, Annual Property Tax and Annual Insurance Premium amounts here. The tax information is available on most county property tax websites. The insurance information is available from the insurance company. It is important to research whether or not the property is located in a homeowner’s association that carries Homeowner’s Association (HOA) fees. If so, enter the annual amount.
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    ACQUISITION AND DEBT SERVICE SUMMARY
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    Enter Purchase Price of the property. If you are financing the property, enter the Down Payment percentage here. For most investors, it’s usually a number between 20-30%. For a cash purchase, enter 100%. Next, enter the Closing Costs & Fees. If you are working with a lender, she can give you a good faith estimate for this line item.
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    ECONOMIC MODELING ASSUMPTIONS (PER YEAR, FOR 10 YEARS)
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    In this section, you need to make some assumptions about the property as indicated to the right. Vacancy Rate: Percentage of Gross Scheduled Income (GSI) or total annual rents possible per year. Maintenance Rate: Percentage of Gross Operating Income (GOI), or the income the property receives after accounting for vacancy. Property Management Rate: Percentage of GOI, the amount of rents actually collected by the property manager. Property Appreciation Rate: Your expectation of how the property value will appreciate. Expense Inflation Rate: The general economic inflation percentage rate. Sales Costs: Costs associated with selling property when it is finally sold, including sales commissions and closing costs. This is a one-time expense.
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    INVESTMENT AND DEBT SERVICE CALCULATIONS
    ?
    Investment and debt service calculations: Based on the data entered above, the investor’s total cash investment, and the monthly and annual debt service is calculated here.
    Property Purchase Price
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    DEBT SERVICE SUMMARY
    ?
    Investment and debt service calculations: Based on the data entered above, the investor’s total cash investment, and the monthly and annual debt service is calculated here.
    Amount Financed
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    KEY FINANCIAL RATIOS (RETURN ON INVESTMENT)
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    Key Financial Ratios are calculated as 10-year averages to the right based on the data entered above. 10-Year Average Cash on Cash ROI – ten year average of cash on cash (CoC) return.Cash-On-Cash ROI + Debt Pay Down – this is the combined return of the debt pay down and the cash on cash return.10-Year Average Capitalization Rate – 10 year average of annual Net Operating Income of the property divided by its purchase price. This is the approximate annual CoC return for an all-cash purchase.10-Year Internal Rate of Return (IRR) – the annual return accounting for the amount invested, cash flow earned through rents, pay down of the mortgage loan, and appreciation realized from the sale of the property. IRR is an overall return on investment metric that accounts for the amount and timing of all cash flows disbursed and received each year.
    10-Year Average Cash-On-Cash ROI
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    First Year Net Operating Income ÷ Purchase Price
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    Want a copy of the results?

    About the calculations

    The calculations and data presented herein are deemed to be accurate, but accuracy is not guaranteed. The projected proforma returns on investment are intended for the purpose of illustrative projections to facilitate analysis and are not guaranteed by Meridian Pacific Properties, Inc. or its affiliates and subsidiaries. The information provided herein is not intended to replace or serve as a substitute for any legal,real estate, tax, or other professional advice, consultation or service. The prospective buyer should consult with a professional in the respective legal, tax, accounting, real estate, or other professional area before making any decisions or entering into any contracts pertaining to the property or properties described herein.

    Monthly Rent *

    Represents the middle point of an expected rent range. We expect the rent to be within $50 of the estimated rent. Meridian helps to protect the rental income for our investors through our rent warranty program. Please call Meridian Pacific Properties directly for more information.

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    Name*
    *Your name, phone number, and email address are required so that we may contact you to schedule an appointment.
    By submitting this form with your telephone number you are consenting for Meridian Pacific Properties and authorized representatives to contact you even if your name is on the Federal "Do-not-call List."
    This field is for validation purposes and should be left unchanged.