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8106 N Rome Ave Tampa, FL 33604

4 Beds 3 Baths 1,614 sqft Built 1999

INVESTimate

$260,000

List Price

$1,550

$1,395 - $1,705

Rent Est.

$294,996  ( +13.46%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $161.09
  • 6 Days on Market
  • MLS # : T3260705
  • Updated Date : 08/24/2020 at 12:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,614 sqft
  • Baths : 3 full
Listing Agent

People's Choice Realty Svc Llc

Listing Agent's Description

Move-in ready home of 3 bedrooms and 2 bath, recently remodeled, with granite counter tops in kitchen and bathrooms, freshly painted inside and out, new fixtures, new doors and much more. The original home was 1,048 square ft. but the attached in-law suite of 1 bedroom, 1 bath, a living room and a kitchen, adds approximately another 566 Ft of living area to the home for a total 1614 ft. of living area. The mother-in-law suite has its private entrance from the side of the house, but it can be also accessed from the main part of the house. Each side has its own air conditioning unit. The public records do not reflect the in-law unit, as it was made out of unpermited garage conversion. The large homesite of more than a quarter acre is deep enough away from the noise and heavy traffic of Rome Ave. granting you a sense of privacy, while you will still enjoy the benefit of the centrality of the much sough after Wilma Estates area. The lot boasts mature landscaping and trees and it is fenced-in for privacy. Covered car port provides parking for 2 cars. This home wont last long in the market, call us and make an appointment to visit and be the first one to present an offer before your competitor does.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Armenia Gardens Estates

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Armenia Gardens Estates

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
Twin Lakes Elementary School Primary Regular 690 61 3
Memorial Middle School Middle Regular 654 50 2
Chamberlain High School High Regular 1,772 98 4

Twin Lakes Elementary School

  • Education Level: Primary
  • # of students: 690
  • # of teachers: 61
3
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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$959
Property Tax -$313
Property Insurance -$129
Property Management Fees -$80
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.

$260,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 13.46%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$28,202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5954$1,6855$1,800
$1,800
RENT COMPS ANALYSIS
  • 8106 N Rome Ave Tampa, 2
    • 4 beds 3 baths ∙ 1,614 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,614 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 6814 N Sterling Ave Tampa, 1
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 2002
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 6115 N Albany Ave Tampa, 3
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2005
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.08
    •  
  • 7707 N Riverdale Ave Tampa, 4
    • 5 beds 3 baths ∙ 1,624 Sqft ∙ Built 2008 5 beds 3 baths ∙ 1,624 Sqft ∙ Built 2008
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.04
    •  
  • 3019 W Sitka St Tampa, 5
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1980
    property image
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Roberto Diaz
1.813.928.5485
People's Choice Realty Svc Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260705
Last Updated: 08/24/2020
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