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8908 W Hamilton Ave Tampa, FL 33615

3 Beds 2 Baths 1,178 sqft Built 1961

$213,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $180.81
  • 3 Days on Market
  • MLS # : T3289019
  • Updated Date : 02/06/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,178 sqft
  • Baths : 2 full
Listing Agent

Johnny N. Redondo & Assoc.llc.

Listing Agent's Description

FIX IT UPPER/INVESTORS/ REHABERS DREAM.This home is situated in the highly demanded Byars Heights Subdivision in Town N Country. This subdivision is definitely in a serious upswing timing. Homes are being remodeled, added on and new homes are popping up in the area some for as high as $400-$500k. This 3bed-2bath home,needs some love but it is a prime location, minutes to everything under the Sun, almost 1/2 acre, a nice and quiet neighborhood. No HOAs. Hurry before is gone.

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: Town N County Alliance

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $84k238k

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

Neighborhood: Town N County Alliance

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7661620

* 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
Bay Crest Elementary School Primary Regular 737 56 3
Davidsen Middle School Middle Regular 959 54 5
Alonso High School High Regular 2,607 136 5

Bay Crest Elementary School

  • Education Level: Primary
  • # of students: 737
  • # of teachers: 56
3
GreatSchools Rating

Davidsen Middle School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 54
5
GreatSchools Rating

Alonso High School

  • Education Level: High
  • # of students: 2,607
  • # of teachers: 136
5
GreatSchools Rating
 

$191,700$234,300$213,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$740
Property Tax -$262
Property Insurance -$104
Property Management Fees -$129
CASH FLOW
$65

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.

$213,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 9.4%
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$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,195

INVESTMENT

$62,195

Down Payment
$53,250
Rehab Estimate
$5,750
Closing Costs
$3,195

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$740

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,250
Loan Amount $159,750
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$21,604

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,352

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3953$1,4504$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 8908 W Hamilton Ave Tampa, FL 1
    • 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.10
    •  
  • 10103 Royal Acres Ct Tampa, FL 2
    • 4 beds 2 baths ∙ 1,236 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,236 Sqft ∙ Built 1980
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.13
    •  
  • 10102 Hunters Point Ct Tampa, FL 3
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1981
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.13
    •  
  • 10101 Chapel Hill Ct Tampa, FL 4
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.20
    •  
  • 8819 W Robson St Tampa, FL 5
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1980
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
PROPERTY LISTING DETAILS
Johnny Redondo
1.813.215.3996
Johnny N. Redondo & Assoc.llc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3289019
Last Updated: 02/06/2021
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