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8512 Tupelo Dr Tampa, FL 33637

3 Beds 2 Baths 1,450 sqft Built 1960

$239,900

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $165.45
  • 25 Days on Market
  • MLS # : T3274432
  • Updated Date : 11/27/2020 at 10:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

Lion's Group Realty, Llc

Listing Agent's Description

Opportunity Awaits!!! This freshly redone property in Temple Terrace has everything you need plus more! Want to know more? 3 beds, 2 baths, 1450SF, completely fenced, new windows, new roof, new A/C and duct work, new stainless steel appliances, new tile, new bamboo flooring, new paint inside and out, new light fixtures, new vanities and granite countertops, new doors, fresh landscaping, inside utility equipped with front load washer and dryer, new crown molding and base boards, smart faucet in kitchen, lazy susans in cabinets, upgraded tile in master bath shower with frameless gold accented shower glass door, walk-in closet in master, gold accented fixtures, plenty of storage, and so much more! Located around the corner from Florida College, close to major thoroughfares, shopping, dining, transit, golf, Busch Gardens and Adventure Island. No HOA. No CDD. Reasonable Taxes. So much to love here. Call for a showing!!!

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: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $85k238k

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

Neighborhood: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781633

* 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
Folsom Elementary School Primary Regular 537 46 2
Jennings Middle School Middle Regular 770 58 2
King High School High Magnet 1,889 106 4

Folsom Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 46
2
GreatSchools Rating

Jennings Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 58
2
GreatSchools Rating

King High School

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

$215,910$263,890$239,900

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$885
Property Tax -$295
Property Insurance -$120
Property Management Fees -$80
CASH FLOW
-$50

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.

$239,900

PROJECTED PRICE

$1,330

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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

PROJECTED ANNUAL CASH FLOW

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

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,334

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,3493$1,3954$1,5005$1,525
$1,525
RENT COMPS ANALYSIS
  • 8512 Tupelo Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.92
    •  
  • 5105 Whiteway Dr Tampa, FL 2
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1971
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.93
    •  
  • 8615 Grandview Dr Temple Terrace, FL 3
    • 4 beds 2 baths ∙ 1,562 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,562 Sqft ∙ Built 1955
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 222 S Riverhills Dr Temple Terrace, FL 4
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1954
    property image
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 211 Willowick Ave Temple Terrace, FL 5
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.90
    •  
PROPERTY LISTING DETAILS
Barbara Whittaker
1.888.505.1628
Lion's Group Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3274432
Last Updated: 11/27/2020
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