Address
2929 W AVERILL AVENUE Tampa, FL
Price
$ 455,000
Property Attributes
  • MLS#O5939552
  • TypeSingle Family
  • CountyHILLSBOROUGH
  • CityTampa
  • AreaTampa
  • NeighborhoodBayhill Estates Add
  • Zip33611
  • StyleSingle Family Residence
  • Year Built1953
  • Taxes1438
  • Price$ 455,000
  • Bedrooms3
  • Full Bathrooms3
  • Half Bathrooms0
  • Sqr Footage1538
  • Lot Size10,019 SqFt
Listing Provided Courtesy Of:
BLUE LIGHTHOUSE REALTY INC
Data Source:
Stellar MLS
Property Description

Fully Renovated, Cash Flowing Investment property! This house has it all, steps away from the open water and famous Bayshore Blvd. Great growth potential as South Tampa continues to outperform. Currently tenant occupied through March 2022, paying $2,750 including all utilities and landscaping. This is truly a passive investment as the owner only pays for property taxes!! Based on a gross rental income of $33,000 and approximately $3,000 for property taxes and 5% ($3,300) set aside for reserves we have the NOI as $26,700. Based on the projected NOI we are marketing the property as a DAY 1 CAP rate of 5.9% which is approximately 20% priced below market as currently Tampa investment properties are trading at a 5 CAP. Using traditional leverage @ 25% down on $450,000 with a 3.75% fixed 30 year mortgage your P&I monthly would be $1,563. Based on the projected NOI of $26,700 or $2,225 a month your monthly levered net cash flow is $662 or $7,944 for the year. Based on your down payment of $112,500 your cash on cash return would be 7.1%!!!! Not factoring in annual appreciation and rental growth. South Tampa saw over 18% in appreciation last year, based on T12 your proforma annual return would be nearly 25% cash on cash!! Please do not disturb the tenants. Contact for showing instructions.

Price History
4/24/2021 Listed $455,000

General Features

Appliances Cooktop, Dishwasher, Electric Water Heater, Freezer, Ice Maker, Microwave, Range, Refrigerator
Carport Spaces 2
Carport Y/N Yes
Construction Materials Other
Cooling Central Air
Exterior Features French Doors
Facing Direction South
Flooring Ceramic Tile, Vinyl
Heating Central
Interior Features Solid Surface Counters, Split Bedroom, Walk-In Closet(s)
Levels One
MLS Area 33611 - Tampa
Minimum Lease Period No Minimum
Parking Features Driveway
Pets Allowed Yes
Property SubType Single Family Residence
Property Type Residential
Roof Shake, Shingle
Sewer Public Sewer
Special Listing Conditions None
Status Active
Subdivision Name BAYHILL ESTATES ADD
Township 30
Utilities Electricity Connected, Water Available
Year Built 1953
Zoning RS-60

Interior Features

Living Area 1538.00
Total Bedrooms 3

Exterior Features

Foundation Details Slab
Lot Size Acres 0.23
Lot Size Square Feet 10064

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 33611

Price
AVG $930K
$460K
Taxes
AVG $6,755
$1,438
Visits
AVG 142
21
Year Built
AVG 1980
1953