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Your Future is Bright with this Tampa Home! [Code: 7807]

Posted by Powered by Simply Do It on January 10, 2024
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Why THIS deal??
  • ~$345/mo. cash flow once you can refi to 5.25% 
  • Cash flows at ~$175/mo. at today's rates of 6.875%
  • Instant Equity of $40k+ with cosmetic improvements
  • HIGHLY appreciating area!
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  • Single family home with 2 bedrooms and 2 bathrooms (This is ok and typical for this neighborhood)
  • Price has already been reduced by $20K since original listing date
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area
  • Dani has sold 3 homes over the years he wishes he held onto in this area because of appreciation
  • Property has been on the market 83 days
  • Cash offer will support an aggressive offer if possible
  • Migration to Florida is high and demand for housing is even higher right now! 
  • Greater Tampa area have very similar school ratings,so this is very typical for the area  
  • No HOA charges
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • Attached 1-car garage

Why should you consider this house / what makes it a good investment?

  • Built: 1979
  • Size: 1,314 square foot home
  • Low Crime, Desirable Community, Average Tampa Rated Schools

What's next?

Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.

Metro: Tampa

Team: Tali  – email directly at tmp1@simplydoit.net

Code: 7807

Property Specifications1
 Bedrooms2
 Bathrooms2
 Square Feet1314
 Year Built1979
 Garage Size1
 Schools Rating (scale 3-30, 30 is best)7
Lot size (sq ft)5950

Purchase AssumptionsMy Offer
Offer used for analysis$232,000
Suggested offer (low)$225,000
Suggested offer (high)$232,000
Asking$240,000
Market Value (after improvements)$280,000
Estimated Improvements (lower)$5,000
Estimated Improvements (upper)$10,000
Estimated Closing Costs$2,320
Estimated Mortgage Costs$1,868
Other Fees At Closing (pts, . . . )$1,624
Total Cost (estimated)$245,312

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$69,600
 Financed Amount$162,400
 Interest Rate 6.875%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$1,067
 Cash Outlay (Total Out of Pocket) $82,912

Rent (upper)*
$1,850$1,900$22,800
Rent (lower)*$1,800$21,600
    
Property Taxes $170$2,040
Insurance $120$1,440
Repairs75$100$1,200
Property Management Monthly (%)9.0% 
Property Management Monthly ($)$167$1,998
Leasing Fee85%$65.5$786
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses37%$689$8,272
 Total Expenses (Fixed + Mortgage)$1,756$21,075

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Disclaimer

Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.

The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info. 


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