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4012 N 29th St Tampa, FL 33610

3 Beds 2 Baths 1,329 sqft Built 2007

$149,900

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $112.79
  • 4 Days on Market
  • MLS # : T3275975
  • Updated Date : 11/13/2020 at 09:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,329 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Excellent investment property!!!NEW AC AAND DUCT WORK 8/2020. Great 3 bedroom/2 bath home located in Tampa. Pictures taken prior to tenant occupying home.

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MARKET HIGHLIGHTS

  • 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)
  • 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.

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
Potter Elementary School Primary Regular 636 63 2
Mclane Middle School Middle Regular 756 61 2
Middleton High School High Magnet 1,448 93 4

Potter Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 63
2
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
 

$134,910$164,890$149,900

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$553
Property Tax -$211
Property Insurance -$113
Property Management Fees -$80
CASH FLOW
$283

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.

$149,900

PROJECTED PRICE

$1,240

PROJECTED RENT

0.83%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,474

INVESTMENT

$45,474

Down Payment
$37,475
Rehab Estimate
$5,750
Closing Costs
$2,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,475
Loan Amount $112,425
See What Happens When You Reinvest Cash Flow

14.42

YEARS SAVED

$40,718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,349

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,126
1$1,1262$1,2003$1,2404$1,2955$1,350
$1,350
RENT COMPS ANALYSIS
  • 4012 N 29th St Tampa, FL 3
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.93
    •  
  • 3707 N 31st St Tampa, FL 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2006
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,126
    • $0.94
    •  
  • 3609 E 38th Ave Tampa, FL 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 3501 E Chelsea St Tampa, FL 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.08
    •  
  • 3201 E 28th Ave Tampa, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Lenora Gonzalez-johnson
1.813.477.4732
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3275975
Last Updated: 11/13/2020
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