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7115 Bonito St Tampa, FL 33617

3 Beds 1 Baths 1,379 sqft Built 1961

$195,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $141.41
  • 5 Days on Market
  • MLS # : T3282823
  • Updated Date : 02/17/2021 at 14:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,379 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

A brick facade and cozy front porch add to the curb appeal. The “Florida room” sunroom has wrap-around windows and plenty of room for hosting and relaxing. The kitchen opens up into a family room with a wood panel accent wall and oversized window. Three good size bedrooms enjoy plenty of light. The good-sized kitchen holds a lot of potential for a designer touch. Large shaded backyard is great for outdoor entertaining and relaxing in the summer shade. Real estate values in this area have grown 11% last year, which makes this an attractive investment opportunity. Comparable renovated homes in the area can sell for upwards of $250K. Just 20 mins from downtown Tampa, this 3BD/1BA single-story family home features terrazzo flooring, a bonus wood-panelled sunroom, terrazzo in the bedrooms and comes fully furnished. Minutes from restaurants and essential shopping, Riverhills Park and walking distance to the nearest elementary school. This home is being sold as is, under market value - this deal won’t last long. Book your private showing today!

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: 40th Street Corridor

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $52k238k

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

Neighborhood: 40th Street Corridor

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
Robles Elementary School Primary Regular 745 65 2
Greco Middle School Middle Regular 862 57 1
King High School High Magnet 1,889 106 4

Robles Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 65
2
GreatSchools Rating

Greco Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 57
1
GreatSchools Rating

King High School

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

$175,500$214,500$195,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$677
Property Tax -$240
Property Insurance -$116
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.

$195,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 8.7%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$24,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,389

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2803$1,3754$1,4005$1,550
$1,550
RENT COMPS ANALYSIS
  • 7115 Bonito St Tampa, FL 2
    • 3 beds 1 baths ∙ 1,379 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,379 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.93
    •  
  • 6413 N 44th St Tampa, FL 1
    • 3 beds 2 baths ∙ 1,070 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,070 Sqft ∙ Built 1966
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.07
    •  
  • 4407 Perch St Tampa, FL 3
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1958
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.93
    •  
  • 7105 Bonito St Tampa, FL 4
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1961
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.08
    •  
  • 8301 N 46th St Tampa, FL 5
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1958
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
PROPERTY LISTING DETAILS
Jasmin Gonzalez
1.813.538.9160
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282823
Last Updated: 02/17/2021
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