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$274,000

Sale Pending
1603 N Park Rd, Plant City, FL 33563
3 Beds
2 Baths
1,042 Square Feet
0.37 Acres Lot
Built in 1957
Sale Pending
1 Units
Checked: 14 hours ago
Updated: Jul 29, 2025 at 07:16AM

Investment Summary


Monthly Cash Flow
-$388
Cap Rate
4.4%
Cash-on-Cash Return
-7.4%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-3.2%

Property Description


0.37 Acres Lot
Built in 1957
Sale Pending
1 Units

Under contract-accepting backup offers. SELLER MOTIVATED! All Furnishings are NEGOTIABLE! Now is your chance to OWN this incredible property with endless potential in the Heart of Plant City! Step inside this beautifully renovated 3-bedroom, 2-bath home featuring stylish modern finishes, a spacious open floor plan, and updated appliances throughout. Enjoy ample backyard space and a central location that puts you minutes from everything. The spacious backyard is ideal for business owners—plumbers, landscapers, or contractors—who need extra room to park work trucks or store equipment. Whether you're looking for a smart investment or a move-in-ready primary residence, this home delivers. Currently operating as a short-term rental, it’s ideal for generating passive income from day one. Perfectly located just minutes from I-4, downtown Plant City, schools, shopping, and only 25 minutes to both Tampa and Lakeland. Motivated seller—schedule your tour today!

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Location


Property Details


Parking

  • Description: Boat, None
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Basement Description: Crawl Space

Exterior Features

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

Land Information

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

Lot Information

  • Parcel ID: P212822ZZZ000006028300
  • Lot Size: 16000 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1957

Tax Information

  • Annual Tax: $2,707

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Hillsborough

Listing Details


Listed by:
Briana Kellin
KELLER WILLIAMS REALTY SMART
(863) 513-5701

Source:
Stellar MLS
MLS#: L4953535
Stellar MLS

Investment Summary


Monthly Cash Flow
-$388
Cap Rate
4.4%
Cash-on-Cash Return
-7.4%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-3.2%

Purchase Details

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Purchase price:
$274,000
Amount financed:
-$219,200
Down payment:
$54,800
Closing costs:
$8,220
Rehab costs:
$0
Initial cash invested:
$63,020
Square feet:
1,042
Cost per square foot:
$263
Monthly rent per square foot:
$1.73

Financing Details

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Loan amount:
$219,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,404
Property tax:
$226
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,756

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$226-$2,708
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (38%)
38%-$676-$8,108

Cash Flow


Monthly Yearly
Net operating income:
$1,016 $12,192
Mortgage payments:
-$1,404 -$16,848
Cash flow:
$388 $4,656