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2908 E 20th Ave Tampa, FL 33605

3 Beds 3 Baths 1,368 sqft Built 2007

$249,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $182.02
  • 2 Days on Market
  • MLS # : T3281143
  • Updated Date : 12/19/2020 at 20:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,368 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homeward Real Estate

Listing Agent's Description

You must see this beautiful MOVE-IN ready home close to Ybor City! This home has been meticulously maintained with many upgrades. When you drive up to your next home you will notice the pride of ownership. This 3 bedroom, 2.5 bath, 1 car-garage home has a very large living room dining room combination great for entertaining. The second floor offers 3 bedrooms and 2 full baths. Some of the new features that come with this home are New laminate flooring downstairs, New appliances, New white PVC fencing and New landscaping. Located on a nice quiet street adjacent to the Al Barnes, Jr. Park in the Ybor City area with convenient access to all major highways, Ybor City, Downtown Tampa, Channelside, dining, shopping, the airport and much more. Hurry because this one won't last long! Make your appointment today!

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: East Tampa

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $45k238k

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

Neighborhood: East Tampa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6941613

* 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
B.t. Washington Elementary School Primary Regular 503 54 2
Madison Middle School Middle Regular 762 52 3
Middleton High School High Magnet 1,448 93 4

B.t. Washington Elementary School

  • Education Level: Primary
  • # of students: 503
  • # of teachers: 54
2
GreatSchools Rating

Madison Middle School

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

Middleton High School

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

$224,100$273,900$249,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$919
Property Tax -$300
Property Insurance -$115
Property Management Fees -$129
CASH FLOW
$137

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.

$249,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 9.8%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$35,850

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,676

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,6004$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 2908 E 20th Ave Tampa, FL 3
    • 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.17
    •  
  • 2705 E 23rd Ave #a Tampa, FL 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 2000
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.19
    •  
  • 2619 E 26th Ave Tampa, FL 2
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 2000
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.26
    •  
  • 1606 E Ida St Tampa, FL 4
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2017
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
  • 2914 N 18th Ave Tampa, FL 5
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2019
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.26
    •  
PROPERTY LISTING DETAILS
Alan Denote
1.813.957.4947
Homeward Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281143
Last Updated: 12/19/2020
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