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8934 Southbay Dr Tampa, FL 33615

3 Beds 2 Baths 1,806 sqft Built 1996

INVESTimate

$305,000

List Price

$1,800

$1,620 - $1,980

Rent Est.

$331,840  ( +8.80%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1996
  • Price/Sqft : $168.88
  • 10 Days on Market
  • MLS # : T3258910
  • Updated Date : 08/23/2020 at 19:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,806 sqft
  • Baths : 2 full
Listing Agent

Sanders Realty & Appraisal

Listing Agent's Description

LOCATION, LOCATION. Welcome to this charming and beautiful 3 bedroom 2 bath 2 car garage home in the West Bay Subdivision. This home is a split floor plan with laminate wood flooring and tile. Fenced yard with a large enclosed back porch, Perfect for Entertaining. It is conveniently located to Tampa International Airport, Veterans Expressway, Beaches, Restaurants and shopping. Masks are required for showings. Tenant occupied. Need 24 hour notice for showings.

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: West Bay

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $85k323k

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

Neighborhood: West Bay

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781824

* 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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,620$1,980$1,800

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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 $1,800
EXPENSES Loan Payment -$1,125
Property Tax -$375
Property Insurance -$141
HOA -$40
Property Management Fees -$80
CASH FLOW
$39

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.

$305,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 8.80%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$29,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,878

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8504$1,8755$2,000
$2,000
RENT COMPS ANALYSIS
  • 8934 Southbay Dr Tampa, 2
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 10265 Oasis Palm Dr Tampa, 1
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1997
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 10024 Oasis Palm Dr Tampa, 3
    • 4 beds 3 baths ∙ 1,957 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,957 Sqft ∙ Built 1998
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 9050 Westbay Blvd Tampa, 4
    • 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1997
    property image
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.98
    •  
  • 8904 Southbay Dr Tampa, 5
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 1997
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.11
    •  
PROPERTY LISTING DETAILS
Paige Mcdonald
1.813.731.7417
Sanders Realty & Appraisal
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3258910
Last Updated: 08/23/2020
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