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6824 Swain Ave Tampa, FL 33625

3 Beds 2 Baths 1,164 sqft Built 1986

$244,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $210.40
  • 5 Days on Market
  • MLS # : W7827995
  • Updated Date : 10/30/2020 at 14:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,164 sqft
  • Baths : 2 full
Listing Agent

Re/max Sunset Realty

Listing Agent's Description

This cute and cozy, open floor plan home features 3 bedrooms and 2 baths. The flooring is a combination of carpet in the bedroom and tile in the kitchen, living and dinner. The roof was replaced in 2018 the property is fenced. This home is a move-in ready. Location is minutes away from shopping centers, restaurants, and medical facilities.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Logan Gate Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k241k

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

Neighborhood: Logan Gate Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781613

* 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
Bellamy Elementary School Primary Regular 706 62 5
Smith Middle School Middle Regular 854 53 6
Sickles High School High Regular 2,135 110 7

Bellamy Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 62
5
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 53
6
GreatSchools Rating

Sickles High School

  • Education Level: High
  • # of students: 2,135
  • # of teachers: 110
7
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$904
Property Tax -$301
Property Insurance -$103
HOA -$21
Property Management Fees -$80
CASH FLOW
$41

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.

$244,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 9.5%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$25,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,312

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4503$1,5504$1,5955$1,599
$1,599
RENT COMPS ANALYSIS
  • 6824 Swain Ave Tampa, FL 2
    • 3 beds 2 baths ∙ 1,164 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,164 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.25
    •  
  • 12339 Witheridge Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1984
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.13
    •  
  • 6707 Spanish Moss Cir Tampa, FL 3
    • 3 beds 2 baths ∙ 1,397 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,397 Sqft ∙ Built 1984
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.11
    •  
  • 6825 Swain Ave Tampa, FL 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1986
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.13
    •  
  • 7017 Monterron Ln Tampa, FL 5
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1983
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.14
    •  
PROPERTY LISTING DETAILS
Maria Diaz
1.727.992.2010
Re/max Sunset Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7827995
Last Updated: 10/30/2020
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