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3005 E 26th Ave Tampa, FL 33605

4 Beds 2 Baths 1,270 sqft Built 1965

$190,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $149.61
  • 6 Days on Market
  • MLS # : T3282982
  • Updated Date : 01/05/2021 at 16:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,270 sqft
  • Baths : 2 full
Listing Agent

Laura Ferguson Realty

Listing Agent's Description

4\2 BLOCK fenced home. This central location gives you close access to all of the new and exciting developments Tampa has to offer. Property is minutes away from I-4 or the I-275 on-ramp, which provide quick and easy for commute for a weekend trips to Orlando or the Beaches, or a fast route to Tampa International Airport if your travels take you out of state. Other great Tampa destinations such as Downtown Tampa, Brandon/Riverview, and the tastefully renovated Hard Rock Casino are within 10 minutes! Come make this home and immerse yourself in all of the amazing opportunity Tampa has to offer!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Oak Park Elementary School Primary Regular 602 55 1
Greco Middle School Middle Regular 862 57 1
Middleton High School High Magnet 1,448 93 4

Oak Park Elementary School

  • Education Level: Primary
  • # of students: 602
  • # of teachers: 55
1
GreatSchools Rating

Greco Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 57
1
GreatSchools Rating

Middleton High School

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

$171,000$209,000$190,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$660
Property Tax -$229
Property Insurance -$109
Property Management Fees -$129
CASH FLOW
$273

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.

$190,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.74%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

12.83

YEARS SAVED

$38,572

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,413

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3003$1,3504$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 3005 E 26th Ave Tampa, FL 4
    • 4 beds 2 baths ∙ 1,270 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,270 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.10
    •  
  • 3101 E Cayuga St Tampa, FL 1
    • 4 beds 2 baths ∙ 1,189 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,189 Sqft ∙ Built 1951
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.09
    •  
  • 3413 E 26th Ave Tampa, FL 2
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1966
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.14
    •  
  • 4208 N 31st St Tampa, FL 3
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
  • 2407 Mallory Ave Tampa, FL 5
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1948
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.14
    •  
PROPERTY LISTING DETAILS
Laura Ferguson
1.813.546.3552
Laura Ferguson Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282982
Last Updated: 01/05/2021
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