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12510 N Armenia Ave Tampa, FL 33612

5 Beds 2 Baths 1,953 sqft Built 1968

$325,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $166.41
  • 3 Days on Market
  • MLS # : T3297719
  • Updated Date : 03/27/2021 at 01:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,953 sqft
  • Baths : 2 full
Listing Agent

Re/max Acr Elite Group, Inc.

Listing Agent's Description

Charming and very well kept Carrollwood home on generous fenced-in lot just South of Fletcher Ave. Paved walk way and front porch greet you as you make your way to the entry of the home. 5 bedrooms and 2 full baths complete this welcoming one-story home. The fifth bedroom is currently being used as a study/den separate from the other bedrooms. The eat-in kitchen has granite counters, stainless appliances and features adjacent butlers pantry with built-in. Entry features marble floors with engineered hardwood floors in the great room, dining room, hall and master bedroom. Master bedroom has private bath. The outside screened patio is the length of the home and has a built-in bar with sink/refrigerator. As you exit the patio you find a beautiful backyard with two storage sheds with electric with one currently vented for use with outdoor grill. There is plenty of room and privacy for a pool to be added.

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: Carrollwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: Carrollwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Lake Magdalene Elementary School Primary Regular 865 67 5
Adams Middle School Middle Regular 1,017 75 2
Chamberlain High School High Regular 1,772 98 4

Lake Magdalene Elementary School

  • Education Level: Primary
  • # of students: 865
  • # of teachers: 67
5
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,129
Property Tax -$400
Property Insurance -$149
Property Management Fees -$129
CASH FLOW
$33

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.

$325,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$27,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,914

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8404$1,8995$2,095
$2,095
RENT COMPS ANALYSIS
  • 12510 N Armenia Ave Tampa, FL 3
    • 5 beds 2 baths ∙ 1,953 Sqft ∙ Built 1968 5 beds 2 baths ∙ 1,953 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.94
    •  
  • 13407 Forest Hills Dr Tampa, FL 1
    • 4 beds 2 baths ∙ 2,152 Sqft ∙ Built 1955 4 beds 2 baths ∙ 2,152 Sqft ∙ Built 1955
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 10209 N Valle Dr Tampa, FL 2
    • 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 1958
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 2302 Carroll Grove Dr Tampa, FL 4
    • 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 1958
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $1.04
    •  
  • 3329 Foxridge Cir Tampa, FL 5
    • 4 beds 2 baths ∙ 2,039 Sqft ∙ Built 1982 4 beds 2 baths ∙ 2,039 Sqft ∙ Built 1982
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
PROPERTY LISTING DETAILS
Toni Wasp
1.813.389.5078
Re/max Acr Elite Group, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3297719
Last Updated: 03/27/2021
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