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4305 N 30th St Tampa, FL 33610

3 Beds 2 Baths 1,290 sqft Built 2020

INVESTimate

$209,209

List Price

$1,180

$1,062 - $1,298

Rent Est.

$229,816  ( +9.85%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $162.18
  • 7 Days on Market
  • MLS # : T3260405
  • Updated Date : 08/21/2020 at 11:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,290 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

BRAND NEW!!! Don't wait for building construction - this beauty is move-in ready! Be the first to live here. Ceramic (wood look) tile throughout. Granite counters and new appliances (refrigerator is included - waiting for delivery). Open floor plan is great for entertaining friends and family. Split bedrooms (master in front and other bedrooms in the rear). Nice backyard with mature trees. Side sliding door access to driveway. High ceilings (approx.9 1/2 feet). Fully fenced rear yard. Convenient to downtown, Ybor, Hardrock, airport and all that Tampa offers. Very attractively priced for new construction in this area.

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MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

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
 

$188,288$230,130$209,209

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$772
Property Tax -$252
Property Insurance -$111
Property Management Fees -$80
CASH FLOW
-$34

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.

$209,209

PROJECTED PRICE

$1,180

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 9.85%
Maintenance Year (1-5) 3.00%
Vacancy 5.25%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,440

INVESTMENT

$57,440

Down Payment
$52,302
Rehab Estimate
$2,000
Closing Costs
$3,138

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$772

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,302
Loan Amount $156,907
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$13,264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,322

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,1953$1,2004$1,2955$1,350
$1,350
RENT COMPS ANALYSIS
  • 4305 N 30th St Tampa, 1
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.91
    •  
  • 2000 E Ellicott St Tampa, 2
    • 4 beds 2 baths ∙ 1,218 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,218 Sqft ∙ Built 2007
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.98
    •  
  • 3609 E 38th Ave Tampa, 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 3501 E Chelsea St Tampa, 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2005
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.08
    •  
  • 3201 E 28th Ave Tampa, 5
    • 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 2005
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.04
    •  
PROPERTY LISTING DETAILS
Chase Wolf
1.813.693.1239
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260405
Last Updated: 08/21/2020
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