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2608 N 29th St Tampa, FL 33605

3 Beds 2 Baths 1,423 sqft Built 2021

$240,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $168.66
  • 8 Days on Market
  • MLS # : U8104057
  • Updated Date : 11/08/2020 at 23:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,423 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Pre-Construction. To be built. Preconstruction to be built!!!, includes everything on your checklist- IMPACT RATED Energy Efficient Double Pane "Low E" Windows, High Seer A/C Unit, GRANITE COUNTERS in the kitchen AND both bathrooms; finally it is located on a nice size lot), Gorgeous vinyl plank flooring in the common areas and carpet in the bedrooms. The master bedroom is SUPER LARGE with a walk in closet and dual vanities in the bathroom. LOCATION is key; located right next to I-275 and I-4, close by attractions, multiple hospitals, USF, UT, shopping, restaurants and much more. Corner LOT!!! neighbor on one side..

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: College Hill

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $40k238k

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

Neighborhood: College Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q26007008009001000110012001300140015001600Rent in $5971613

* 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
Potter Elementary School Primary Regular 636 63 2
Mclane Middle School Middle Regular 756 61 2
Middleton High School High Magnet 1,448 93 4

Potter Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 63
2
GreatSchools Rating

Mclane Middle School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 61
2
GreatSchools Rating

Middleton High School

  • Education Level: High
  • # of students: 1,448
  • # of teachers: 93
4
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$886
Property Tax -$289
Property Insurance -$118
Property Management Fees -$80
CASH FLOW
-$63

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$240,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 3.00%
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

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,600

INVESTMENT

$65,600

Down Payment
$60,000
Rehab Estimate
$2,000
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,419

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3103$1,3504$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 2608 N 29th St Tampa, FL 2
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.92
    •  
  • 2601 E 26th Ave Tampa, FL 1
    • 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 2005
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.97
    •  
  • 3201 E 28th Ave Tampa, FL 3
    • 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 2005
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.04
    •  
  • 2603 E Cayuga St Tampa, FL 4
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 2008
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 3210 N 16th St Tampa, FL 5
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 2006
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.05
    •  
PROPERTY LISTING DETAILS
Kristin Washington
1.813.484.2774
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104057
Last Updated: 11/08/2020
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