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1814 Marvy Ave Tampa, FL 33612

3 Beds 1 Baths 888 sqft Built 1960

$189,900

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $213.85
  • 6 Days on Market
  • MLS # : U8111264
  • Updated Date : 01/28/2021 at 13:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 888 sqft
  • Baths : 1 full
Listing Agent

Stofel & Associates Realty

Listing Agent's Description

Step into this gorgeous 3 bedroom 1 bath single story home, as you walk up to the property you are greeted by wooden fence all the way around, this freshly painted house stands out for its beauty, as you walk in through the door you will notice Terrazzo flooring all around the main living spaces, this well laid out floor plan boasts comfort and privacy. Too many new additions to list, brand new hardware all over, new toilet, new sink, new doors, new double panel windows, upgraded lighting. The roof is only 5 years old, brand new paint inside and outside. All new gutters all the way around the property, all trees have been removed from the yard as well. HVAC & Furnace are both less than 6 years old. Enjoy the Outdoor grilling area with comfort and privacy, the property also has a powered storage shed that can be used as a small workshop. ***INVESTMENT POTENTIAL*** This property includes separate IN-LAW suite that was built up to code to be an office, GREAT HOME OFFICE POTENTIAL, it has a full working bathroom with toilet/ sink/ shower as well as A/C and power all around. Less than 5 minutes to USF, 5 minutes to 275, and just a short drive from variable entertainment options. THIS IS A GREAT PROPERTY!

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MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: University Square

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $50k238k

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

Neighborhood: University Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6561613

* 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
Shaw Elementary School Primary Regular 628 62 1
Adams Middle School Middle Regular 1,017 75 2
Wharton High School High Regular 2,261 128 4

Shaw Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 62
1
GreatSchools Rating

Adams Middle School

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

Wharton High School

  • Education Level: High
  • # of students: 2,261
  • # of teachers: 128
4
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$660
Property Tax -$229
Property Insurance -$87
Property Management Fees -$129
CASH FLOW
-$45

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.

$189,900

PROJECTED PRICE

$1,060

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 15.0%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$9,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,061

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,060
1$1,0602$1,1003$1,1504$1,2255$1,250
$1,250
RENT COMPS ANALYSIS
  • 1814 Marvy Ave Tampa, FL 1
    • 3 beds 1 baths ∙ 888 Sqft ∙ Built 1960 3 beds 1 baths ∙ 888 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $1.19
    •  
  • 1406 E Linebaugh Ave Tampa, FL 2
    • 3 beds 1 baths ∙ 900 Sqft ∙ Built 1948 3 beds 1 baths ∙ 900 Sqft ∙ Built 1948
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.22
    •  
  • 920 E Seneca Ave Tampa, FL 3
    • 3 beds 1 baths ∙ 972 Sqft ∙ Built 1949 3 beds 1 baths ∙ 972 Sqft ∙ Built 1949
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.18
    •  
  • 804 E Orchid Ave Tampa, FL 4
    • 3 beds 2 baths ∙ 1,054 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,054 Sqft ∙ Built 1980
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.16
    •  
  • 10014 N Hyacinth Ave Tampa, FL 5
    • 3 beds 2 baths ∙ 1,025 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,025 Sqft ∙ Built 1963
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.22
    •  
PROPERTY LISTING DETAILS
Brain Albores Hernandez
1.727.365.6263
Stofel & Associates Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8111264
Last Updated: 01/28/2021
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