4417 Woodrow Ave
Rent evidence
Underwritten to the Section 8 Fair Market Rent ceiling — HUD FMR, ZIP 38106, 3-bedroom. Lease comps and market index shown for triangulation only.
Operating summary
| Income | Amount / yr |
| Gross scheduled rent ($1,390 × 12) | $16,680 |
| Operating expenses | |
| Property taxes (1.2% of ARV) | $1,860 |
| Insurance (modeled) | $620 |
| Vacancy reserve (5% of gross) | $834 |
| Management (8% of gross) | $1,334 |
| Repairs & maintenance | $680 |
| Net operating income | $11,352 |
| Coverage & return | |
| Cap rate (NOI ÷ list price) | 10.1% |
| Debt service @ list (75% LTV · 7.25% · 30 yr · P&I) | $6,901 |
| Cash flow before reserves | +$4,451 |
| CapEx reserve (10-yr budget $20,200) | −$2,020 |
| Net after CapEx reserve | +$2,431 |
Offer ladder
Ladder coverage isolates principal & interest against lender NOI (65% of gross rents) at each offer price — that is why it runs above the 1.22× headline DSCR, which is stress-tested all-in (taxes, insurance and reserves included). Walk-away equals list.
Inspection flags
The $20,200 ten-year CapEx budget carries the aging HVAC ($6,200 replacement reserve) alongside routine turn and systems allowances. Roof and flood-zone status clear with no reserve required.
Condition read
Condition is a modeled read of the photos and description on the listing, not an inspection. It sets the comp band and the CapEx model — it never replaces a walkthrough.
Flood & risk
A high-risk zone (AE, VE, A) would carry a red chip here and add a modeled flood premium to the operating summary before the cap rate is struck.
Comparable sales
| Address | ZIP | Bd/Ba | Sqft | Sold | $/sqft |
|---|---|---|---|---|---|
| 4390 Woodrow Ave | 38106 | 3 / 1 | 1,150 | $118,000 | $103 |
| 1284 Pillow St | 38106 | 3 / 1 | 1,210 | $121,500 | $100 |
| 3521 Boxdale St | 38108 | 3 / 1 | 1,120 | $105,900 | $95 |
Comparable rows are illustrative and shown to demonstrate memo format — they do not reflect any specific transaction.
Exports
Inside an account, every memo downloads as a PDF and a spreadsheet — forward it to a partner, or drop the .xlsx into your own model. On this sample page, Save as PDF in the bar above prints the same document.
Not investment advice. This is a representative sample memo, not a real or active listing. The address, figures, condition read, flood status and comparable sales are illustrative and modeled from public methodology; they do not reflect any specific transaction. Verleon provides analytical tooling for real-estate professionals — underwriting outputs are modeled estimates and are not a substitute for independent due diligence, licensed appraisal, lender pre-approval, legal counsel, or physical inspection. All trademarks belong to their respective owners.