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3310 W Walnut St Tampa, FL 33607

3 Beds 3 Baths 1,492 sqft Built 1962

$284,900

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $190.95
  • 4 Days on Market
  • MLS # : T3288441
  • Updated Date : 02/13/2021 at 16:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,492 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tampa Bay Elite Homes, Llc

Listing Agent's Description

Minutes to Midtown, International Mall, Tampa International Airport & More! This one owner home is full of charm and opportunity. Almost 1500 Square feet of living space which includes 3 bedrooms, 2.5 baths, Large kitchen with dinette area, living/dining room and large family room with wood burning fireplace. The HVAC was replaced 2012. Beautiful terrazzo floors & brick fireplace wall add charm and elegance to this lovely home. The back yard has covered areas and small kitchen as well as a 1/2 bath. There is plenty of parking space with 2 driveways with carports as well as a circular driveway. There is also a 15x18 workshop/garage. The home needs updating and has been priced accordingly. Priced to sell come see this gem in the heart of Macfarlane Park!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: MacFarlane Park

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: MacFarlane Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7151613

* 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
West Tampa Elementary School Primary Regular 554 56 6
Madison Middle School Middle Regular 762 52 3
Jefferson High School High Magnet 1,518 97 3

West Tampa Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 56
6
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
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$990
Property Tax -$343
Property Insurance -$122
Property Management Fees -$129
CASH FLOW
$176

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.

$284,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 12.2%
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$1.2M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$36,372

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7604$1,8005$2,000
$2,000
RENT COMPS ANALYSIS
  • 3310 W Walnut St Tampa, FL 3
    • 3 beds 3 baths ∙ 1,492 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,492 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.18
    •  
  • 3226 W Saint Conrad St Tampa, FL 1
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1971
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.27
    •  
  • 3207 W Nassau Tampa, FL 2
    • 3 beds 1 baths ∙ 1,552 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,552 Sqft ∙ Built 1955
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 2016 N Saint Vincent St Tampa, FL 4
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1977
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.12
    •  
  • 3102 W Lemon St Tampa, FL 5
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1955
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.32
    •  
PROPERTY LISTING DETAILS
Martha Hernandez
1.813.391.7485
Tampa Bay Elite Homes, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3288441
Last Updated: 02/13/2021
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