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3507 E 10th Ave Tampa, FL 33605

3 Beds 2 Baths 1,435 sqft Built 2021

$240,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $167.25
  • 2 Days on Market
  • MLS # : U8111678
  • Updated Date : 01/31/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,435 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rlty Seminole

Listing Agent's Description

Under Construction. Under Construction. Interest list forming! New Construction home in the growing Ybor district of Tampa Bay. If you are looking for a smart, practical and beautiful floor plan, you'll have to consider the Avista Homes Palmetto II plan. This home features a split floor plan that offers a combination of quality finishes and ample space. The kitchen features granite countertops and stainless steel appliances. The floors throughout the main living corridors and wet spaces will be a wood-look vinyl and the bedrooms will have carpet. If you are looking for a brand new home in one of the fastest growing markets in the area, look no further! Centrally located near the I-275 and I-4 corridors and the iconic Ybor historic downtown is less than a five-minute drive. Find out why Tampa Bay is one of the nation's fastest growing communities.

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: East Ybor

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $45k238k

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

Neighborhood: East Ybor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6221613

* 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
Desoto Elementary School Primary Regular 266 28 3
Mann Middle School Middle Regular 1,096 68 3
Blake High School High Magnet 1,709 103 4

Desoto Elementary School

  • Education Level: Primary
  • # of students: 266
  • # of teachers: 28
3
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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$834
Property Tax -$289
Property Insurance -$119
Property Management Fees -$129
CASH FLOW
$39

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$240,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$65,600

INVESTMENT

$65,600

Down Payment
$60,000
Rehab Estimate
$2,000
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$20,304

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,575

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3503$1,4104$1,4505$1,800
$1,800
RENT COMPS ANALYSIS
  • 3507 E 10th Ave Tampa, FL 3
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.98
    •  
  • 2214 E 19th Ave Tampa, FL 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 3201 E 28th Ave Tampa, FL 2
    • 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 2005
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.04
    •  
  • 3210 N 16th St Tampa, FL 4
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 2006
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.05
    •  
  • 2914 N 18th Ave Tampa, FL 5
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2019
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.26
    •  
PROPERTY LISTING DETAILS
Ryan Kirby
1.352.216.1828
Keller Williams Rlty Seminole
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8111678
Last Updated: 01/31/2021
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