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3706 Ohio Ave Tampa, FL 33611

4 Beds 3 Baths 2,030 sqft Built 2006

$400,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $197.04
  • 5 Days on Market
  • MLS # : T3272850
  • Updated Date : 10/30/2020 at 16:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,030 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dynamic

Listing Agent's Description

GREAT LOCATION, CONVENIENT TO DOWNTOWN TAMPA, MACDILL AFB, AND SOHO SHOPPING/DINING. This SPACIOUS South Tampa 4 bedroom/2.5 bath home features beautiful wood flooring in the formal living room and dining room. The OPEN CONCEPT kitchen offers solid wood cabinets, GRANITE COUNTERTOPS, recessed lighting, a pantry closet, an EXPANSIVE BAR and spacious BREAKFAST NOOK overlooking the family room. The family room has sliders overlooking the ENORMOUS BACK YARD. The many windows allow an abundance of natural light to flow throughout this cozy abode. Just up the open rail staircase you have the master bedroom which includes an en-suite bath with dual sinks, garden tub, and separate shower. The additional three additional bedrooms offer ample living and closet space. This home's backyard is a MUST SEE and meant for entertaining - SPACIOUS, PRIVATE, and FULLY FENCED. Surrounded by generous yard space, lush landscaping, and mature shade trees create the perfect place to sit outdoors! Bring your pool dreams you have the space. This home is in a Premiere SOUTH TAMPA location! It’s expected to go fast! Close to the best shopping, Soho, Hyde Park, Bayshore, restaurants, hospitals, a short commute to Downtown Tampa and minutes from MacDill AFB. Blink and you will miss it!

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: Sun Bay South

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $72k238k

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

Neighborhood: Sun Bay South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7761613

* 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
Chiaramonte Elementary School Primary Regular 395 33 4
Madison Middle School Middle Regular 762 52 3
Robinson High School High Magnet 1,542 91 6

Chiaramonte Elementary School

  • Education Level: Primary
  • # of students: 395
  • # of teachers: 33
4
GreatSchools Rating

Madison Middle School

  • Education Level: Middle
  • # of students: 762
  • # of teachers: 52
3
GreatSchools Rating

Robinson High School

  • Education Level: High
  • # of students: 1,542
  • # of teachers: 91
6
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,476
Property Tax -$492
Property Insurance -$154
Property Management Fees -$80
CASH FLOW
$369

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.

$400,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$77,836

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,685

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,5703$2,6004$2,7005$3,295
$3,295
RENT COMPS ANALYSIS
  • 3706 Ohio Ave Tampa, FL 2
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $1.27
    •  
  • 3525 W Ballast Point Blvd Tampa, FL 1
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 2018
    property image
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.29
    •  
  • 6223 Interbay Ave Tampa, FL 3
    • 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 2004
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.30
    •  
  • 6325 S Richard Ave Tampa, FL 4
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2004
    property image
    LEASED 05/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.24
    •  
  • 3204 W Marlin Ave Tampa, FL 5
    • 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2012
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.46
    •  
PROPERTY LISTING DETAILS
Andrew Duncan
1.813.501.3939
Re/max Dynamic
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3272850
Last Updated: 10/30/2020
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