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$169,500

For Sale - Active
1006 Gray St, Plant City, FL 33563
2 Beds
1 Bath
600 Square Feet
0.23 Acres Lot
Built in 1950
For Sale - Active
1 Units
Checked: 14 hours ago
Updated: Jul 25, 2025 at 12:11AM

Investment Summary


Monthly Cash Flow
$124
Cap Rate
7.0%
Cash-on-Cash Return
3.8%
Debt Coverage Ratio
1.14
Internal Rate of Return (5 years)
7.7%

Property Description


0.23 Acres Lot
Built in 1950
For Sale - Active
1 Units

Welcome to 1006 Gray St – a charming and versatile property located in the heart of Plant City with no HOA or deed restrictions! Bring your boat, RV, work truck, or weekend toys—there's plenty of room and freedom to live the way you want. This well-maintained home is currently set up as a 2-bedroom, 1-bath and offers unique bonus features that set it apart. One standout is the air-conditioned shed just steps from the main house—perfectly suited for a private salon, home office, art studio, or small business setup. The current owner successfully ran a personal salon from the space, showcasing its functionality and convenience. Additional recent updates include a brand new well installed with proper permits, ensuring peace of mind and reliability. You'll also enjoy a spacious backyard ideal for entertaining, gardening, or creating your dream outdoor living space. Don't miss this rare opportunity to own a property with endless potential and unmatched flexibility—all in a central, sought-after location. Schedule your private showing today and start turning your vision into reality!

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Location


Property Details


Parking

  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 4
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Type: Gable or Hip
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: P33282259W000002000112
  • Lot Size: 10019 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1950

Tax Information

  • Annual Tax: $1,340

Utilities

  • Water & Sewer: Private, Well
  • Heating: Other
  • Cooling: Other, Wall/Window Unit(s)

Location

  • County: Hillsborough

Listing Details


Listed by:
Chad Hall
EXP REALTY LLC
(813) 422-9146

Source:
Stellar MLS
MLS#: TB8399713
Stellar MLS

Investment Summary


Monthly Cash Flow
$124
Cap Rate
7.0%
Cash-on-Cash Return
3.8%
Debt Coverage Ratio
1.14
Internal Rate of Return (5 years)
7.7%

Purchase Details

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Purchase price:
$169,500
Amount financed:
-$135,600
Down payment:
$33,900
Closing costs:
$5,085
Rehab costs:
$0
Initial cash invested:
$38,985
Square feet:
600
Cost per square foot:
$283
Monthly rent per square foot:
$2.67

Financing Details

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Loan amount:
$135,600
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$868
Property tax:
$112
Insurance:
$112
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,092

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,600 $19,200
Vacancy loss: (6%)
6% -$96 -$1,152
Operating income:
$1,504 $18,048

Operating Expenses


% Rent Monthly Yearly
Property taxes: (7%)
7%-$112-$1,340
Insurance: (7%)
7%-$112-$1,344
Property management: (8%)
8%-$128-$1,536
Repairs & maintenance: (5%)
5%-$80-$960
Capital expenditures: (5%)
5%-$80-$960
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (32%)
32%-$512-$6,140

Cash Flow


Monthly Yearly
Net operating income:
$992 $11,904
Mortgage payments:
-$868 -$10,416
Cash flow:
$124 $1,488