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11502 N Ola Ave Tampa, FL 33612

3 Beds 2 Baths 1,956 sqft Built 1969

$359,990

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $184.04
  • 3 Days on Market
  • MLS # : T3276192
  • Updated Date : 11/14/2020 at 10:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,956 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Tampa Prop.

Listing Agent's Description

This home is absolutely amazing! This 3 bedroom 2 bath home has everything you need for you and your family. Gorgeous galley-style kitchen with STAINLESS STEEL Kenmore Elite Appliances and GRANITE countertops. Brand new water heater(2020). The dark wood-laminate flooring draw the eyes upwards toward the natural light provided by the DOUBLE-PANED windows with PLANTATION SHUTTERS in the living room. The owners suite is the epitome of relaxation. The owners closet stretches the entire length of the bedroom with entrances on either side. On the other end of the home, you will find 2 more bedrooms and bath. The backyard comes with a large shed for added storage, room enough for all your tools and toys. Call today for a showing. This home is sure to be a blessing to whomever is ready to move in! Are you ready?

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Forest Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Forest Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391613

* 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
Forest Hills Elementary School Primary Regular 1,053 75 1
Adams Middle School Middle Regular 1,017 75 2
Chamberlain High School High Regular 1,772 98 4

Forest Hills Elementary School

  • Education Level: Primary
  • # of students: 1,053
  • # of teachers: 75
1
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
 

$323,991$395,989$359,990

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,328
Property Tax -$433
Property Insurance -$149
Property Management Fees -$80
CASH FLOW
-$51

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.

$359,990

PROJECTED PRICE

$1,940

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,147

INVESTMENT

$101,147

Down Payment
$89,998
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,998
Loan Amount $269,993
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$23,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8454$1,9405$2,100
$2,100
RENT COMPS ANALYSIS
  • 11502 N Ola Ave Tampa, FL 4
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.99
    •  
  • 11315 N Ola Ave Tampa, FL 1
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1986
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 1707 Round Pond Ave Tampa, FL 2
    • 3 beds 1 baths ∙ 1,814 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,814 Sqft ∙ Built 1963
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 12728 Linda Dr Tampa, FL 3
    • 3 beds 2 baths ∙ 2,106 Sqft ∙ Built 1955 3 beds 2 baths ∙ 2,106 Sqft ∙ Built 1955
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.88
    •  
  • 11510 N Ravine Road Tampa, FL 5
    • 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 1962
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
PROPERTY LISTING DETAILS
Reggie Ward
1.904.566.0098
Keller Williams Tampa Prop.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3276192
Last Updated: 11/14/2020
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