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7024 Ponderosa Dr Tampa, FL 33637

3 Beds 1 Baths 1,156 sqft Built 1960

$199,990

List Price

$1,130

$1K - $1.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $173.00
  • 19 Days on Market
  • MLS # : T3279192
  • Updated Date : 12/28/2020 at 12:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,156 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Tampa Central

Listing Agent's Description

Charming single family home located in wonderful community. Among many features, a stately oak welcomes you to your new home. This three bedroom, single bath home offers a bonus room which includes a wood burning fireplace. This 1960’s charmer offers terrazzo floors throughout the family room, kitchen, hallway and all three bedrooms. There are ceiling fans in all the bedrooms including the family room, kitchen and bonus room. The home includes fresh paint inside and out. Fresh mulch and landscaping in the front yard. The home opens up to the family which is accented with chair rail trim. The kitchen is spacious and opens up to a dining room with a view of the back yard. The entire subfloor under the dining room has been replaced with new floor joists and 1/2” plywood (not OSB) subfloor. The top floor is a waterproof solid vinyl installed in 2019. The kitchen includes a range and refrigerator. The bonus room offers painted concrete floors and lots of room for converting this space to suit your needs. The laundry room is spacious just around the corner from the kitchen. The home includes rain gutters and a sprinkler system. Enjoy our Florida weather in your very own covered, enclosed and screened in back patio. The home also offers a carport for your vehicle. The home comes complete with perimeter fencing. The location could not be more convenient. This home is located approximately 16 minutes to downtown Tampa, 25 minutes to Tampa International Airport, 19 minutes to Tampa General Hospital 15 minutes to the Walmart Super Center and shopping at Brandon Town Center is only 22 minutes away. All times and distances will vary due to traffic buyer to verify all information including but not limited to room dimensions, taxes, etc. Outdoor shed is being left at the convenience of the seller and has zero value.

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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: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $85k238k

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

Neighborhood: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781633

* 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
Folsom Elementary School Primary Regular 537 46 2
Jennings Middle School Middle Regular 770 58 2
King High School High Magnet 1,889 106 4

Folsom Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 46
2
GreatSchools Rating

Jennings Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 58
2
GreatSchools Rating

King High School

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

$179,991$219,989$199,990

PURCHASE PRICE

$1,017$1,243$1,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,130
EXPENSES Loan Payment -$695
Property Tax -$246
Property Insurance -$103
Property Management Fees -$129
CASH FLOW
-$42

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.

$199,990

PROJECTED PRICE

$1,130

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,747

INVESTMENT

$58,747

Down Payment
$49,998
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,998
Loan Amount $149,993
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$10,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,130

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,222

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,1303$1,2504$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 7024 Ponderosa Dr Tampa, FL 2
    • 3 beds 1 baths ∙ 1,156 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,156 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,130
    • $0.98
    •  
  • 5115 Chilkoot St Tampa, FL 1
    • 3 beds 2 baths ∙ 1,073 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,073 Sqft ∙ Built 1979
    property image
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $1.02
    •  
  • 5310 Rainbow Dr Temple Terrace, FL 3
    • 3 beds 1 baths ∙ 1,173 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,173 Sqft ∙ Built 1956
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.07
    •  
  • 5102 Holland Ave Temple Terrace, FL 4
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1978
    property image
    LEASED 08/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 207 Redwood Ave Temple Terrace, FL 5
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1954
    property image
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
PROPERTY LISTING DETAILS
Virginia Bond
1.813.352.2933
Keller Williams Tampa Central
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3279192
Last Updated: 12/28/2020
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