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6905 N Oregon Ave Tampa, FL 33604

3 Beds 2 Baths 1,673 sqft Built 2015

$349,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $209.15
  • 8 Days on Market
  • MLS # : T3286500
  • Updated Date : 01/27/2021 at 20:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,673 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Tampa Central

Listing Agent's Description

Beautifully maintained 2015 built 3 bedroom 2 bath home in the Lowry Park area. The home boasts 20" tile and laminate flooring in the living areas, stainless steel appliances, granite countertops in the bathrooms and kitchen, double paned windows, and surround sound. The master bedroom and bath feature a large walk in closet, a spacious garden tub, and a separate walk in shower with glass enclosure. The double .21 acre lot includes vinyl fencing enclosing the back yard with plenty of room for a pool. A spacious open floor plan offering high ceilings is perfect for entertaining. An additional feature is this home comes with a Ring Doorbell and night owl exterior cameras. The location is 2 minutes from I275 providing easy access to anywhere in the Tampa Bay Area with walking distance to C. 1949. This is a perfect house to make your home!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lowry Park Central

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Lowry Park Central

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391613

* 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
Oak Grove Elementary School Primary Regular 852 67 5
Memorial Middle School Middle Regular 654 50 2
Chamberlain High School High Regular 1,772 98 4

Oak Grove Elementary School

  • Education Level: Primary
  • # of students: 852
  • # of teachers: 67
5
GreatSchools Rating

Memorial Middle School

  • Education Level: Middle
  • # of students: 654
  • # of teachers: 50
2
GreatSchools Rating

Chamberlain High School

  • Education Level: High
  • # of students: 1,772
  • # of teachers: 98
4
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,215
Property Tax -$421
Property Insurance -$133
Property Management Fees -$129
CASH FLOW
-$68

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.

$349,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 11.3%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$17,639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,8304$1,9355$2,000
$2,000
RENT COMPS ANALYSIS
  • 6905 N Oregon Ave Tampa, FL 3
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.09
    •  
  • 202 E Clinton St Tampa, FL 1
    • 4 beds 2 baths ∙ 1,344 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,344 Sqft ∙ Built 2001
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.15
    •  
  • 6115 N Albany Ave Tampa, FL 2
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2005
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.08
    •  
  • 7707 N Riverdale Ave Tampa, FL 4
    • 4 beds 3 baths ∙ 1,624 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,624 Sqft ∙ Built 2008
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $1.19
    •  
  • 4914 N Mendenhall Dr Tampa, FL 5
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2006
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
PROPERTY LISTING DETAILS
Tyler Leban
1.813.767.4982
Keller Williams Tampa Central
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286500
Last Updated: 01/27/2021
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