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2909 E 28th Ave Tampa, FL 33605

3 Beds 3 Baths 1,698 sqft Built 2021

$274,415

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $161.61
  • 3 Days on Market
  • MLS # : T3292691
  • Updated Date : 02/27/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,698 sqft
  • Baths : 2 full , 1 half
Listing Agent

Domain Realty Llc

Listing Agent's Description

Under Construction. Under Construction. Permit already received. Photos are of a similar, completed Carlton A home plan and professional renderings for construction purposes. Located in the heart of East Tampa, this 1698 square foot new construction home features eating area in the kitchen, open concept living space , walk-in closets throughout and storage throughout the home. Located in close proximity to Downtown Tampa, Hillsborough River, major roadways such as I-275 and I-75, Historic Ybor City attractions, tons of restaurants and parks. *** Potter Elementary / Mclane Middle / Middleton High school districts*** Move-in on time for the new school year! Home will be ready by the end of June. One of our friendly new home specialists would be happy to provide an in-person or virtual tour of this site or of similar homes at various stages of construction.

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MARKET HIGHLIGHTS

  • 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)
  • #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)

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
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
 

$246,974$301,857$274,415

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$953
Property Tax -$330
Property Insurance -$134
Property Management Fees -$129
CASH FLOW
-$97

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.

$274,415

PROJECTED PRICE

$1,450

PROJECTED RENT

0.53%

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) 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$1.0M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,720

INVESTMENT

$74,720

Down Payment
$68,604
Rehab Estimate
$2,000
Closing Costs
$4,116

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$953

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,604
Loan Amount $205,811
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$10,607

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,694

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4504$1,4505$1,695
$1,695
RENT COMPS ANALYSIS
  • 2909 E 28th Ave Tampa, FL 4
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 2917 E 25th Ave Tampa, FL 1
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 2007
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 2603 E Cayuga St Tampa, FL 2
    • 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 3
    • 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
    •  
  • 2615 E Curtis St Tampa, FL 5
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2001
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
PROPERTY LISTING DETAILS
Kevin Robles
1.813.580.8113
Domain Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3292691
Last Updated: 02/27/2021
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