Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7027 Parliament Dr Tampa, FL 33619

3 Beds 2 Baths 1,402 sqft Built 1977

$249,999

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $178.32
  • 4 Days on Market
  • MLS # : T3284850
  • Updated Date : 01/14/2021 at 03:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,402 sqft
  • Baths : 2 full
Listing Agent

Serralles Group,inc

Listing Agent's Description

Welcome, Home! Introducing this beautifully-remodeled home, featuring 3 bedrooms, 2 bathrooms located mins from Downtown Tampa. Top-quality workmanship and attention to detail, including vinyl floors throughout the entire home (No Carpet), Brand New Appliances, Granite countertops in the kitchen & bathrooms, upgraded tiles in both bathrooms, Garage door, New Sod much more. Concrete block home & not in a flood zone! The roof is 6 years old on a 20-year roof. The Central Air conditioner is 2 years. 10 mins drive to Amelia Arena & the new Water Street Development - minutes from Selmon Expwy, 301, I-75, and I-4 with plenty of surrounding restaurants, hospitals, schools.

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: Clair Mel City

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $47k238k

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

Neighborhood: Clair Mel City

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6851613

* 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
Bing Elementary School Primary Regular 603 52 2
Giunta Middle School Middle Regular 951 61 1
Spoto High School High Regular 1,449 88 3

Bing Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 52
2
GreatSchools Rating

Giunta Middle School

  • Education Level: Middle
  • # of students: 951
  • # of teachers: 61
1
GreatSchools Rating

Spoto High School

  • Education Level: High
  • # of students: 1,449
  • # of teachers: 88
3
GreatSchools Rating
 

$224,999$274,999$249,999

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$868
Property Tax -$307
Property Insurance -$117
Property Management Fees -$129
CASH FLOW
$118

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.

$249,999

PROJECTED PRICE

$1,540

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 9.1%
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

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$28,045

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,563

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4954$1,5405$1,550
$1,550
RENT COMPS ANALYSIS
  • 7027 Parliament Dr Tampa, FL 4
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.10
    •  
  • 7825 24th Ave S Tampa, FL 1
    • 3 beds 3 baths ∙ 1,204 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,204 Sqft ∙ Built 1958
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.16
    •  
  • 2030 Windsor Way Tampa, FL 2
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1959
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.11
    •  
  • 1314 Larsen Ln Tampa, FL 3
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1959
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 7204 Reindeer Rd Tampa, FL 5
    • 4 beds 2 baths ∙ 1,372 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,372 Sqft ∙ Built 1971
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.13
    •  
PROPERTY LISTING DETAILS
Jeffrey Tabares
1.813.817.5442
Serralles Group,inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3284850
Last Updated: 01/14/2021
BESbswy