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3217 E Caracas St Tampa, FL 33610

4 Beds 2 Baths 1,526 sqft Built 2006

$221,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $145.41
  • 3 Days on Market
  • MLS # : T3274903
  • Updated Date : 11/07/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,526 sqft
  • Baths : 2 full
Listing Agent

De Costa Realty

Listing Agent's Description

Welcome, Home! This East Tampa Area beauty boasts over 1,500+ living square feet, spacious fenced backyard with a brand new deck perfect for entertainment and family fun. This homes spacious features carries into the freshly painted throughout interior and renovated open floorplan. The kitchen galley kitchen, installed 2018 features waterproof vinyl flooring, butcher block counter tops, open shelves, great cabinet space and stainless steel appliances. New vinyl flooring, vanities and fixtures in bathrooms. Freshly painted exterior and dectahed garage that can be used for additonal storage or renovated as a guest suite. BRAND NEW ROOF, HVAC under 2 years old and Ring floodlight cam. Conveniently just a short commute to to all entertainment, parks, schools, Seminole Heights, Ybor City, Channelside, Downtown Tampa and more! Walking distance of Fair Oaks Park which is scheduled to undergo a massive redevelopment and expansion. Fair Oaks Park is slated to feature various upgrades and facilities including a splash park, football, and softball field as well as a community center. Schedule your private showing today!

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
James Elementary School Primary Regular 687 62 1
Mclane Middle School Middle Regular 756 61 2
Middleton High School High Magnet 1,448 93 4

James Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 62
1
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
 

$199,710$244,090$221,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$819
Property Tax -$267
Property Insurance -$124
Property Management Fees -$80
CASH FLOW
$200

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.

$221,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.67%

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$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

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$64,554

INVESTMENT

$64,554

Down Payment
$55,475
Rehab Estimate
$5,750
Closing Costs
$3,329

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$819

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,475
Loan Amount $166,425
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$40,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,560

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4003$1,4004$1,4505$1,490
$1,490
RENT COMPS ANALYSIS
  • 3217 E Caracas St Tampa, FL 5
    • 4 beds 2 baths ∙ 1,526 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,526 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.98
    •  
  • 3501 E Chelsea St Tampa, FL 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.08
    •  
  • 3512 E Mohawk Ave Tampa, FL 2
    • 4 beds 2 baths ∙ 1,344 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,344 Sqft ∙ Built 2002
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 3019 E Comanche Ave Tampa, FL 3
    • 4 beds 2 baths ∙ 1,344 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,344 Sqft ∙ Built 2005
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 2603 E Cayuga St Tampa, FL 4
    • 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
    •  
PROPERTY LISTING DETAILS
Eboney De Costa
1.786.493.9180
De Costa Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3274903
Last Updated: 11/07/2020
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