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3109 W Rio Vista Ave Tampa, FL 33614

3 Beds 1 Baths 1,175 sqft Built 1961

$250,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $212.77
  • 4 Days on Market
  • MLS # : T3284883
  • Updated Date : 01/15/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,175 sqft
  • Baths : 1 full
Listing Agent

Scott Realty, Llc

Listing Agent's Description

Oak Grove Central Tampa Home - Convenient to EVERYTHING! Nestled on a mature street filled with new builds and newly renovated homes hides 3109 West Rio Vista Ave. Turnkey easy living at its finest in this single story updated craftsman esque home with a large city lot. Inside this gorgeous home, features include: original terrazzo floors, all new hurricane rated doors and windows, newer stainless steel appliances, real wood custom cabinetry in the kitchen accompanied by designer quartz counters and counter to ceiling white subway tiles make up a kitchen fit for your favorite FOOD channel chef. Bring the outside in under your front porch overlooking the oversized front yard. UPDATED and ready for a new owners personal touch. Brand NEW 2019 Asphalt Shingle Roof - Roof Warranty is transferable! Brand NEW paint outside! Brand NEW 2019 Central Air System. Brand NEW Hurricane rated energy efficient Doors and Windows. Located in Hillsborough County, right in the middle of Tampa this cute home is centrally located to all the fun and charm Tampa has to offer. Located within perfect proximity to downtown Tampa, Tampa Int'l Airport, The Gulf Beaches, the hundreds of shopping and dining establishments in South Tampa, Seminole Heights, The New Midtown and Ybor. Easy access to I-275, I-4 and Veterans Expressway you are minutes from anything you need in Tampa!

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: Egypt Lake - Leto

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Egypt Lake - Leto

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
Oak Grove Elementary School Primary Regular 852 67 5
Pierce Middle School Middle Regular 977 66 3
Hillsborough High School High Magnet 1,947 107 4

Oak Grove Elementary School

  • Education Level: Primary
  • # of students: 852
  • # of teachers: 67
5
GreatSchools Rating

Pierce Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 66
3
GreatSchools Rating

Hillsborough High School

  • Education Level: High
  • # of students: 1,947
  • # of teachers: 107
4
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$868
Property Tax -$301
Property Insurance -$104
Property Management Fees -$129
CASH FLOW
-$42

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.

$250,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 8.3%
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-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$13,374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,360

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,3604$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 3109 W Rio Vista Ave Tampa, FL 3
    • 3 beds 1 baths ∙ 1,175 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,175 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.16
    •  
  • 2521 W South Ave Tampa, FL 1
    • 3 beds 1 baths ∙ 1,065 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,065 Sqft ∙ Built 1958
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.13
    •  
  • 3221 W Clifton St Tampa, FL 2
    • 3 beds 1 baths ∙ 1,144 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,144 Sqft ∙ Built 1972
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.09
    •  
  • 2619 W Idlewild Ave Tampa, FL 4
    • 3 beds 1 baths ∙ 1,126 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,126 Sqft ∙ Built 1953
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.24
    •  
  • 2313 W Clifton St Tampa, FL 5
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1946
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.17
    •  
PROPERTY LISTING DETAILS
Nathan Hurley
1.813.610.3797
Scott Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3284883
Last Updated: 01/15/2021
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