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8509 N 15th St Tampa, FL 33604

4 Beds 2 Baths 1,377 sqft Built 1984

$190,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $137.98
  • 3 Days on Market
  • MLS # : T3290180
  • Updated Date : 02/13/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,377 sqft
  • Baths : 2 full
Listing Agent

Paradise Realty And Investment Group Inc

Listing Agent's Description

Come to view this beautifully renovated house with 4 bedrooms and 2 bathrooms. Solid blockhouse. The roof is 5 years old. Large kitchen with new cabinets and countertops. Both bathrooms upgraded. Huge fenced back yard. 15 minutes driving to downtown Tampa, Ybor City, Bush Garden, The Riverwalk, Museum, and much more. Close to schools. public transportation. Rooms have not been verified.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
Chamberlain High School High Regular 1,772 98 4
Chamberlain High School High Unknown NA

Chamberlain High School

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

Chamberlain High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$660
Property Tax -$229
Property Insurance -$116
Property Management Fees -$129
CASH FLOW
$177

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.

$190,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 8.8%
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$14k

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$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$29,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,387

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,245
1$1,2452$1,3003$1,3004$1,3105$1,395
$1,395
RENT COMPS ANALYSIS
  • 8509 N 15th St Tampa, FL 4
    • 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.95
    •  
  • 1818 E Eskimo Ave Tampa, FL 1
    • 4 beds 1 baths ∙ 1,332 Sqft ∙ Built 1975 4 beds 1 baths ∙ 1,332 Sqft ∙ Built 1975
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.93
    •  
  • 9414 N 22nd St Tampa, FL 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2002
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.08
    •  
  • 1012 E Okaloosa Ave Tampa, FL 3
    • 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1984
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.00
    •  
  • 2014 E Linebaugh Ave Tampa, FL 5
    • 4 beds 2 baths ∙ 1,370 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,370 Sqft ∙ Built 1984
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.02
    •  
PROPERTY LISTING DETAILS
Yury Sanchez
1.954.225.0118
Paradise Realty And Investment Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3290180
Last Updated: 02/13/2021
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