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3703 E Genesee St Tampa, FL 33610

3 Beds 2 Baths 1,050 sqft Built 1983

$189,900

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $180.86
  • 2 Days on Market
  • MLS # : T3278149
  • Updated Date : 12/05/2020 at 12:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,050 sqft
  • Baths : 1 full , 1 half
Listing Agent

Century 21 Rosa Leon

Listing Agent's Description

This is a beautifully remodeled 3 bedroom home. NEW roof. NEW central heat and air. Freshly painted. Fabulous new kitchen with new cabinets, granite countertops, and new stainless appliances. Both bathrooms have been beautifully remodeled. Beautiful new waterproof plank flooring throughout the entire house. House has a great floor plan with a separate dining area, a roomy master bedroom with a walk-in closet a half bath. Nice lot on a Quiet Street. Large private backyard. Carport.Large utility room with new plank flooring. Hurry this one won't last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Rainbow Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $45k238k

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

Neighborhood: Rainbow Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7271613

* 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
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$701
Property Tax -$229
Property Insurance -$97
Property Management Fees -$129
CASH FLOW
$15

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.

$189,900

PROJECTED PRICE

$1,170

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 11.0%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$17,382

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,197

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,1953$1,3004$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 3703 E Genesee St Tampa, FL 1
    • 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $1.11
    •  
  • 3307 Lila St Tampa, FL 2
    • 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1964
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.19
    •  
  • 3014 E Emma St Tampa, FL 3
    • 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1963
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.15
    •  
  • 3413 E 26th Ave Tampa, FL 4
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1966
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.14
    •  
  • 4208 N 31st St Tampa, FL 5
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
PROPERTY LISTING DETAILS
Barbara Fernandez-camina
1.813.957.3775
Century 21 Rosa Leon
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3278149
Last Updated: 12/05/2020
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