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W 2929 Averill Avenue
Tampa, FL 33611

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Price: $455,000
Address: W 2929 Averill Avenue
City: Tampa
Zip code: 33611
County: hillsborough
Subdivision: bayhill estates add
Square Ft: 1538
Bedrooms: 3
Full Bathrooms: 3
Half Bathrooms: 0
Pool: None
Lot Size: 0.23
Property Type: Residential / Single Family Residence
Construction: Other
Heating: Central
Carport Spaces: 2
Flooring: Ceramic Tile,Vinyl
WaterFront: None
Community Features:
Year Built: 1953
Remarks: 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.
Courtesy of: blue lighthouse realty inc

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Information on this website is being provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this web site is sourced from My Florida Regional MLS DBA Stellar MLS. Real estate listings held by brokerage firms other than Lipply Real Estate are marked with the Broker Reciprocity logo. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal.

*Data Updated 05 05 2021

MLS Office ID: 260030671
Lipply Real Estate Company
3302 Alternate 19 North, Suite A
Palm Harbor, FL 34683
Phone: 727-314-1000
Fax: 727-216-6549
Toll Free: 888-423-5775