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6709 S Himes Ave Tampa, FL 33611

3 Beds 1 Baths 1,220 sqft Built 1981

$224,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $184.34
  • 2 Days on Market
  • MLS # : T3279252
  • Updated Date : 12/05/2020 at 14:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,220 sqft
  • Baths : 1 full
Listing Agent

Spartan Group Realty Inc

Listing Agent's Description

Opportunity knocks!!! This adorable 1.5 story home is a perfect starter home or addition to an investment portfolio. Consisting of 3 bedrooms, 1 bath, a spacious backyard and large detached structure. The detached unit has electric, tile flooring, and a metal roof which makes for a wonderful guest house, storage, or workshop. Flood insurance is not required for this home as it sits high and dry out of the flood zone. The property is fully fenced and measures approximately 55' wide x 120' deep. No rear neighbors give added privacy to the backyard. Several large new construction homes on the same and surrounding streets. Priced right with room to improve by adding your personal updates. More pictures to come. Be sure to see this one before its gone!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Interbay

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $69k238k

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

Neighborhood: Interbay

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8141673

* 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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$830
Property Tax -$271
Property Insurance -$107
Property Management Fees -$129
CASH FLOW
$214

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.

$224,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$43,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6504$1,7005$1,780
$1,780
RENT COMPS ANALYSIS
  • 6709 S Himes Ave Tampa, FL 2
    • 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1981 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.27
    •  
  • 3628 W Anderson Ave Tampa, FL 1
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1981
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.34
    •  
  • 3619 W Anderson Ave Tampa, FL 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1987
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.22
    •  
  • 6510 S Englewood Ave Tampa, FL 4
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1981
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.52
    •  
  • 6814 S Gabrielle St Tampa, FL 5
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1987
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.47
    •  
PROPERTY LISTING DETAILS
Chad Uslan
1.813.330.5105
Spartan Group Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3279252
Last Updated: 12/05/2020
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