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5015 S 87th St Tampa, FL 33619

3 Beds 2 Baths 1,014 sqft Built 1960

$189,900

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $187.28
  • 3 Days on Market
  • MLS # : T3281323
  • Updated Date : 12/19/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,014 sqft
  • Baths : 2 full
Listing Agent

Action 100 Realty

Listing Agent's Description

This beautiful 3/2 home is located in a very quiet neighborhood. This property features a good size backyard for entertainment, freshly painted exterior and interior. It also features a large family room for family gatherings, new wood cabinets, granite countertops, new laminate, and ceramic tile throughout the house.

SEE MORE

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: Progress Village

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $44k238k

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

Neighborhood: Progress Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6721613

* 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
Lamb Elementary School Primary Regular NA
Giunta Middle School Middle Regular 951 61 1
Spoto High School High Regular 1,449 88 3

Lamb Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Giunta Middle School

  • Education Level: Middle
  • # of students: 951
  • # of teachers: 61
1
GreatSchools Rating

Spoto High School

  • Education Level: High
  • # of students: 1,449
  • # of teachers: 88
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$701
Property Tax -$234
Property Insurance -$95
Property Management Fees -$129
CASH FLOW
$52

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

$1,210

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 11.9%
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 45% 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

7.58

YEARS SAVED

$21,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,207

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,025
1$1,0252$1,2003$1,2104$1,2755$1,300
$1,300
RENT COMPS ANALYSIS
  • 5015 S 87th St Tampa, FL 3
    • 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $1.19
    •  
  • 8320 Allamanda Ave Tampa, FL 1
    • 3 beds 1 baths ∙ 861 Sqft ∙ Built 1960 3 beds 1 baths ∙ 861 Sqft ∙ Built 1960
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $1.19
    •  
  • 7920 Dahlia Ave Tampa, FL 2
    • 4 beds 1 baths ∙ 1,045 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,045 Sqft ∙ Built 1960
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.15
    •  
  • 4907 S 79th St Tampa, FL 4
    • 4 beds 2 baths ∙ 1,051 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,051 Sqft ∙ Built 1961
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.21
    •  
  • 8318 Croton Ave Tampa, FL 5
    • 3 beds 1 baths ∙ 1,073 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,073 Sqft ∙ Built 1960
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.21
    •  
PROPERTY LISTING DETAILS
Yuneisy Hernandez
1.813.997.2607
Action 100 Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281323
Last Updated: 12/19/2020
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