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2903 W Ivy St Tampa, FL 33607

4 Beds 2 Baths 1,287 sqft Built 1966

$270,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $209.79
  • 3 Days on Market
  • MLS # : T3280235
  • Updated Date : 12/12/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,287 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Tampa Prop.

Listing Agent's Description

Amazing Bungalow centrally located in the Heart of Tampa!! This Bungalow has been Beautifully Remodeled. You will love every detail in this home as you pull up. The Seller kept the lovely awning at the peak of the roof and tiled the entire front porch. The entire driveway was repaved all the way to the renovated garage that was made into an In-Law Suite that could create Rental Income. The home was fully repainted inside and out. You will love the gorgeous glass front door upon entering the home into the Living room. The home has an open concept and you will love the remodeled kitchen with quartz countertops, stainless steel appliances, new faucet and hood vent. The home is fully of natural light making it extremely cozy. The home consist of 3 bedrooms and one bathroom with a ceiling fan and large closets and storage in each room. The master bedroom is in the back of the home with French doors leading out to a back deck. The master bedroom also has the washer and dryer hook ups in the closet. The remodeled bathroom has plenty of storage for all of your linens. The renovated garage was made into an In-Law home with its own bathroom and kitchenette. The back yard is a great size and can be enclosed. Do not miss out on this beautiful home!!

SEE MORE

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: MacFarlane Park

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: MacFarlane Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7151613

* 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
Tampa Bay Boulevard Elementary School Primary Regular 758 62 2
Madison Middle School Middle Regular 762 52 3
Jefferson High School High Magnet 1,518 97 3

Tampa Bay Boulevard Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 62
2
GreatSchools Rating

Madison Middle School

  • Education Level: Middle
  • # of students: 762
  • # of teachers: 52
3
GreatSchools Rating

Jefferson High School

  • Education Level: High
  • # of students: 1,518
  • # of teachers: 97
3
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$996
Property Tax -$325
Property Insurance -$110
Property Management Fees -$129
CASH FLOW
-$31

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.

$270,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 12.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,316

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5303$1,5954$1,6505$1,895
$1,895
RENT COMPS ANALYSIS
  • 2903 W Ivy St Tampa, FL 2
    • 4 beds 2 baths ∙ 1,287 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,287 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.19
    •  
  • 2527 W Main St Tampa, FL 1
    • 4 beds 2 baths ∙ 1,425 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,425 Sqft ∙ Built 1948
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.07
    •  
  • 2345 W Saint Conrad St Tampa, FL 3
    • 3 beds 1 baths ∙ 1,094 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,094 Sqft ∙ Built 1960
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.46
    •  
  • 3226 W Saint Conrad St Tampa, FL 4
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1971
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.27
    •  
  • 3219 W Leroy St Tampa, FL 5
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1950
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.24
    •  
PROPERTY LISTING DETAILS
Julia Wright
1.813.842.5647
Keller Williams Tampa Prop.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3280235
Last Updated: 12/12/2020
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