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8113 N 18th St Tampa, FL 33604

4 Beds 2 Baths 1,392 sqft Built 1973

INVESTimate

$205,900

List Price

$1,400

$1,260 - $1,540

Rent Est.

$223,937  ( +8.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $147.92
  • 3 Days on Market
  • MLS # : T3259949
  • Updated Date : 08/24/2020 at 22:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,392 sqft
  • Baths : 2 full
Listing Agent

Avenue Homes Llc

Listing Agent's Description

Excellent opportunity to own this spacious 4 beds/2 bath single family home! This property could also make a great investment property. New interior & exterior paint, ceramic tile all throughout & huge backyard. Not in a flood zone & NO HOA!

SEE MORE

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: Sulphur Springs

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $43k238k

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

Neighborhood: Sulphur Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6291613

* 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
Sulphur Springs Elementary School Primary Regular 659 60 1
Sulphur Springs Elementary School Middle Regular 659 60 1
Chamberlain High School High Regular 1,772 98 4

Sulphur Springs Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 60
1
GreatSchools Rating

Sulphur Springs Elementary School

  • Education Level: Middle
  • # of students: 659
  • # of teachers: 60
1
GreatSchools Rating

Chamberlain High School

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

$185,310$226,490$205,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$760
Property Tax -$248
Property Insurance -$117
Property Management Fees -$80
CASH FLOW
$196

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.

$205,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 8.76%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,314

INVESTMENT

$60,314

Down Payment
$51,475
Rehab Estimate
$5,750
Closing Costs
$3,089

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$760

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,475
Loan Amount $154,425
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$38,559

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,451

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,3994$1,4005$1,400
$1,400
RENT COMPS ANALYSIS
  • 8113 N 18th St Tampa, 5
    • 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 2914 E Crawford St Tampa, 1
    • 4 beds 3 baths ∙ 1,339 Sqft ∙ Built 1957 4 beds 3 baths ∙ 1,339 Sqft ∙ Built 1957
    property image
    LEASED 02/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.97
    •  
  • 2001 E Broad St Tampa, 2
    • 3 beds 1 baths ∙ 1,186 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,186 Sqft ∙ Built 1957
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.10
    •  
  • 8509 N 15th St Tampa, 3
    • 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 1984
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.02
    •  
  • 8501 N 17th St Tampa, 4
    • 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1981
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.08
    •  
PROPERTY LISTING DETAILS
Mariam Serra
1.813.504.0157
Avenue Homes Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3259949
Last Updated: 08/24/2020
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