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3101 Gordon Ct Tampa, FL 33619

3 Beds 2 Baths 1,215 sqft Built 1996

$180,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $148.15
  • 3 Days on Market
  • MLS # : T3296222
  • Updated Date : 03/19/2021 at 20:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,215 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage

Listing Agent's Description

Wonderful 3 bedroom 2 bath starter home in Orient Park. Freshly painted exterior with private screened front porch. Perfect for sipping on your favorite evening libation. The porch leads you into the main living area that includes luxury vinyl flooring. The spacious eat-in kitchen includes views to your beautiful mature landscaped backyard. The backyard includes fencing and offers enough square footage to add in a pool. The location of this home is phenomenal: Minutes to Seminole Hard Rock Casino, the Florida State Fairgrounds, Ybor, Downtown Tampa, not to mention a commuters dream with easy Access to the Crosstown Expressway and Interstate 275. This starter home will not last long.

SEE MORE

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 Lake - Orient Park

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: East Lake - Orient Park

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
Kenly Elementary School Primary Regular 528 51 2
Mann Middle School Middle Regular 1,096 68 3
Blake High School High Magnet 1,709 103 4

Kenly Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 51
2
GreatSchools Rating

Mann Middle School

  • Education Level: Middle
  • # of students: 1,096
  • # of teachers: 68
3
GreatSchools Rating

Blake High School

  • Education Level: High
  • # of students: 1,709
  • # of teachers: 103
4
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$625
Property Tax -$221
Property Insurance -$106
Property Management Fees -$129
CASH FLOW
$358

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.

$180,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 12.1%
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$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

14.67

YEARS SAVED

$43,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,370

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,3003$1,3504$1,3735$1,440
$1,440
RENT COMPS ANALYSIS
  • 3101 Gordon Ct Tampa, FL 5
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.19
    •  
  • 3112 Gordon Ct Tampa, FL 1
    • 3 beds 2 baths ∙ 1,052 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,052 Sqft ∙ Built 1998
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.14
    •  
  • 3704 Carroway St Tampa, FL 2
    • 4 beds 2 baths ∙ 1,176 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,176 Sqft ∙ Built 1993
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.11
    •  
  • 3707 Carroway St Tampa, FL 3
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1995
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.13
    •  
  • 7517 Connecticut Dr Tampa, FL 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2000
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,373
    • $1.14
    •  
PROPERTY LISTING DETAILS
Jeffrey Wible
1.813.951.6353
Offerpad Brokerage
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3296222
Last Updated: 03/19/2021
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