Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10028 Ohio Ave Thonotosassa, FL 33592

5 Beds 4 Baths 2,706 sqft Built 1975

INVESTimate

$319,900

List Price

$2,160

$1,944 - $2,376

Rent Est.

$351,282  ( +9.81%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1975
  • Price/Sqft : $118.22
  • 6 Days on Market
  • MLS # : T3260740
  • Updated Date : 08/24/2020 at 11:50
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,706 sqft
  • Baths : 3 full , 1 half
Listing Agent

Florida Executive Realty

Listing Agent's Description

VERY UNIQUE HOME AND ONE-OF-A-KIND ! FANTASTIC LOCATION ! NO HOA OR DEED RESTRICTIONS ! SOLAR POWERED HOME ! METAL ROOF ! DETACHED APARTMENT & GARAGE SEPARATE FROM MAIN HOME ! “JUST SHY” OF 1 ACRE LOT WITH FENCED-IN YARD BOTH BACK & FRONT ! HUGE AMOUNT OF GARAGE SPACE AND STORAGE ! BRING YOUR RV/BOAT/TRAILER/TRUCKS/PETS/CHICKENS ! HOME IS ON BOTH SEPTIC & WELL SYSTEMS SO MUCH LOWER UTILITY COSTS ! COME SEE THIS TOTAL OF 5 BEDROOMS 3.5 BATHROOMS 4+ CAR GARAGE SCREENED-IN POOL HOME THAT HAS A TOTAL OF OVER 3000+SQUARE FEET LIVING AREA AND OVER 4000+ SQUARE FEET UNDER ROOF ! YOUR NEW HOME HAS MANY GREAT FEATURES: LONG LASTING METAL ROOF, OVER $50,000 OF SOLAR PANELS THAT ARE OWNED NOT LEASED, ALL WOOD/LAMINATE/TILE FLOORS THRU OUT HOME WITH NO CARPET, DETACHED APARTMENT IS FULLY FUNCTIONAL AND JUST NEEDS A LITTLE TLC, SPLIT FLOOR PLAN IN MAIN HOME, BEAUTIFUL SCREENED-IN POOL WITH LARGE COVERED LANAI FOR HOURS OF RELAXING & ENTERTAINING, SEPTIC & WELL SYSTEMS WITH JET PUMP & WATER SOFTNER, WHITE VINYL FENCED-IN YARD WITH BACK HAVING 6’ AND FRONT HAVING 3’ PICKET FENCES ALONG WITH PRIVATE GATE ENTRANCE, EPOXY/SPECKLED FLOOR IN MAIN GARAGE AND THIS HOME HAS NO HOA ! YOUR NEW KITCHEN FEATURES: WHITE SHAKER-LIKE CABINETS, GRANITE COUNTER TOPS, STAINLESS STEEL APPLIANCES ALONG WITH CERAMIC TILE FLOOR ! THIS HOME IS VERY UNIQUE AND HAS CHARACTERISTICS/QUALITIES THAT OTHER HOMES JUST DO NOT HAVE ! YOUR NEW HOME HAS HUGE POTENTIAL AND INVESTMENT OPPORTUNITY FOR THE RIGHT BUYER ! THIS HOME/PROPERTY IS LOCATED WHERE YOU CAN BE IN THE USF AREA, DOWNTOWN TAMPA, WESLEY CHAPEL AND POLK COUNTY WITHIN MINUTES ! PLEASE CALL YOUR AGENT TODAY TO SCHEDULE YOUR PRIVATE SHOWING !

SEE MORE

MARKET HIGHLIGHTS

  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)
  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)
  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Greater Thonotosassa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k358k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Greater Thonotosassa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781651

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Thonotosassa Elementary School Primary Regular 374 34 2
Jennings Middle School Middle Regular 770 58 2
Armwood High School High Regular 1,809 104 3

Thonotosassa Elementary School

  • Education Level: Primary
  • # of students: 374
  • # of teachers: 34
2
GreatSchools Rating

Jennings Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 58
2
GreatSchools Rating

Armwood High School

  • Education Level: High
  • # of students: 1,809
  • # of teachers: 104
3
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,180
Property Tax -$414
Property Insurance -$194
Property Management Fees -$80
CASH FLOW
$292

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$319,900

PROJECTED PRICE

$2,160

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 9.81%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

10.75

YEARS SAVED

$60,252

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,160

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,544

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,160
1$2,1602$2,250
$2,250
RENT COMPS ANALYSIS
  • 10028 Ohio Ave Thonotosassa, 1
    • 5 beds 4 baths ∙ 2,706 Sqft ∙ Built 1975 5 beds 4 baths ∙ 2,706 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.80
    •  
  • 12310 Knight Pl Thonotosassa, 2
    • 4 beds 2 baths ∙ 2,395 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,395 Sqft ∙ Built 1994
    LEASED 05/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
PROPERTY LISTING DETAILS
Brian Allen
1.813.382.8077
Florida Executive Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260740
Last Updated: 08/24/2020
BESbswy