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111 W Flora St Tampa, FL 33604

2 Beds 2 Baths 1,098 sqft Built 2005

$265,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $241.35
  • 49 Days on Market
  • MLS # : T3277635
  • Updated Date : 12/21/2020 at 20:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,098 sqft
  • Baths : 2 full
Listing Agent

People's Choice Realty Svc Llc

Listing Agent's Description

One or more photo(s) has been virtually staged. PRICE REDUCED!! Motivated seller!!! Beautiful home on the Seminole Heights Area. Home offers 2 bedrooms and 2 bathrooms and a bonus room, glass enclosures in both bathrooms. Updated kitchen with beautiful cabinets and quartz countertops. Also new A/C, roof and all the appliances, ceiling fan throughout the house and much more. The home sit on a 0.40 acre / 17410 sqft. Huge front yard, fenced, lots of privacy. Centrally located only minutes to Lowry Park Zoo, Downtown Tampa and many shopping center. Hurry before is too late!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Old Seminole Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $67k238k

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

Neighborhood: Old Seminole Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8381613

* 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
Cleveland Elementary School Primary Regular 413 40 4
Adams Middle School Middle Regular 1,017 75 2
Chamberlain High School High Regular 1,772 98 4

Cleveland Elementary School

  • Education Level: Primary
  • # of students: 413
  • # of teachers: 40
4
GreatSchools Rating

Adams Middle School

  • Education Level: Middle
  • # of students: 1,017
  • # of teachers: 75
2
GreatSchools Rating

Chamberlain High School

  • Education Level: High
  • # of students: 1,772
  • # of teachers: 98
4
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$920
Property Tax -$331
Property Insurance -$100
Property Management Fees -$129
CASH FLOW
-$80

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.

$265,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 13.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$12,380

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,224

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3353$1,3754$1,4005$1,550
$1,550
RENT COMPS ANALYSIS
  • 111 W Flora St Tampa, FL 4
    • 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.28
    •  
  • 8209 N 10th St Tampa, FL 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.08
    •  
  • 8602 N 17th St Tampa, FL 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2006
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $1.11
    •  
  • 8416 N Otis Ave Tampa, FL 3
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1989
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.12
    •  
  • 202 E Clinton St Tampa, FL 5
    • 4 beds 2 baths ∙ 1,344 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,344 Sqft ∙ Built 2001
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.15
    •  
PROPERTY LISTING DETAILS
Niuber Reina
1.813.317.5706
People's Choice Realty Svc Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277635
Last Updated: 12/21/2020
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