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3004 W Heiter St Tampa, FL 33607

3 Beds 3 Baths 1,994 sqft Built 2005

INVESTimate

$369,000

List Price

$2,120

$1,908 - $2,332

Rent Est.

$407,930  ( +10.55%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $185.06
  • 7 Days on Market
  • MLS # : T3260098
  • Updated Date : 08/23/2020 at 21:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,994 sqft
  • Baths : 2 full , 1 half
Listing Agent

Future Home Realty Inc

Listing Agent's Description

This beautiful home should be yours! Come and see this West Tampa home located just one block from Raymond James stadium. This 2005 built, 2 story home features 3 large bedrooms and 2 1/2 baths. All Bedrooms are upstairs with small loft area. 10 foot ceilings on both levels! Covered front and rear porches are great for relaxing. First floor features beautiful hardwood floors, shelving and pre-wired surround sound with built in speakers. Open kitchen with large bar top area which is great for entertaining. Stainless steal appliances, granite, real wood cabinets and closet pantry. Eat in kitchen with adjacent laundry room. French doors lead to a large porch and fenced backyard. FRESH interior paint!! Brand new Water Heater! AC's 5 yrs old and serviced regularly. BRAND NEW carpet in all bedrooms! Master suite features HUGE walk-in closet. Large master bath with dual sinks, tub and walk in shower! This home is move in ready! EXCELLENT LOCATION, centrally located to Tampa. Just 10 min to airport! Come see this home today before it is gone!

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MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Northwest Tampa

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Northwest Tampa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391613

* 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
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,361
Property Tax -$444
Property Insurance -$151
Property Management Fees -$80
CASH FLOW
$83

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.

$369,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 10.55%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$38,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,406

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1203$2,2504$2,650
$2,650
RENT COMPS ANALYSIS
  • 3004 W Heiter St Tampa, 2
    • 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.06
    •  
  • 4914 N Mendenhall Dr Tampa, 1
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2006
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
  • 3023 W Spruce St Tampa, 3
    • 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 2018
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.35
    •  
  • 3413 W Spruce St Tampa, 4
    • 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 2016
    LEASED 05/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.21
    •  
PROPERTY LISTING DETAILS
Ryan Sack
1.813.351.9598
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260098
Last Updated: 08/23/2020
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