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6118 E 112th Ave Temple Terrace, FL 33617

3 Beds 2 Baths 1,279 sqft Built 1972

$269,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $210.32
  • 20 Days on Market
  • MLS # : T3273991
  • Updated Date : 11/18/2020 at 15:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,279 sqft
  • Baths : 2 full
Listing Agent

Better Realty Services,llc

Listing Agent's Description

Temple Terrace home with the whole package! 3 Bedrooms 2 baths, family, dining and living room. Family room exits to elevated deck with seating area over looking privacy fenced 1/4 acre yard. Oversize 1 car garage with laundry, shelving and exterior door to backyard and deck. New vinyl plank in throughout except bedrooms that have brand new carpet. Interior has been freshly painted- walls, ceilings, closets, the new interior doors and all trim. The kitchen has new wood cabinets, granite and new brand new Samsung appliances. No HOA fees and a 3 minute walk to the park. Temple Terrace schools, recreation center and Temple Terrace Golf course all nearby. I-75 and USF a 5 minute drive away. New Buyers get a 3 month Social Membership at Temple Terrace Golf and country club.

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: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k245k

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

Neighborhood: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781654

* 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
Lewis Elementary School Primary Regular 818 65 4
Greco Middle School Middle Regular 862 57 1
King High School High Magnet 1,889 106 4

Lewis Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 65
4
GreatSchools Rating

Greco Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 57
1
GreatSchools Rating

King High School

  • Education Level: High
  • # of students: 1,889
  • # of teachers: 106
4
GreatSchools Rating
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$992
Property Tax -$319
Property Insurance -$110
Property Management Fees -$80
CASH FLOW
-$101

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.

$269,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,343

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,241

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,3494$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 6118 E 112th Ave Temple Terrace, FL 4
    • 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.09
    •  
  • 10225 N Ojus Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 1,165 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,165 Sqft ∙ Built 1980
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.03
    •  
  • 9710 Beverly Dr Temple Terrace, FL 2
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1961
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
  • 5105 Whiteway Dr Tampa, FL 3
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1971
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.93
    •  
  • 5102 Holland Ave Temple Terrace, FL 5
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1978
    LEASED 08/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
PROPERTY LISTING DETAILS
Monty Bryan
1.813.833.7786
Better Realty Services,llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273991
Last Updated: 11/18/2020
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