$789,900
Investment Summary
- Monthly Cash Flow
- -$1,836
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -12.1%
- Debt Coverage Ratio
- 0.55
- Internal Rate of Return (5 years)
- -7.7%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Step into timeless elegance with this exquisitely restored 1905 bungalow, located on one of the most picturesque streets in the Historic District of Seminole Heights — Central Avenue. A true masterpiece of early 20th-century craftsmanship, this one-of-a-kind home perfectly balances vintage charm with modern luxury. From the moment you arrive, the curb appeal is undeniable. The oversized wraparound porch — a classic bungalow hallmark — invites you to sip your morning coffee or unwind in the evening while soaking in the beauty of one of Tampa’s most beloved historic neighborhoods. Inside, you’re welcomed by soaring tray ceilings, original glowing hardwood floors, and a stunning original brick wood-burning fireplace that serves as the heart of the home. The open-concept layout seamlessly connects the living and dining spaces, creating an airy, inviting atmosphere that’s perfect for both everyday living and entertaining. The kitchen is a true showstopper. Calacatta quartz countertops, custom shaker cabinetry, gold designer hardware, a mosaic tile backsplash, and top-tier stainless steel appliances — including a built-in wine fridge — combine to create a space that’s as functional as it is beautiful. Tucked away on the first floor for added privacy, the spacious primary suite is a serene retreat with room for a king-sized bed and cozy reading nook. The spa-inspired en suite bath features luxe finishes and thoughtful design. Two additional bedrooms are equally charming and versatile, perfect for guests, family, or a home office. Upstairs, a bonus loft space offers endless possibilities — use it as a creative studio, reading nook, playroom, home gym, or whatever your lifestyle demands. This home has been meticulously upgraded with modern systems while preserving its historic soul. Updates include plumbing, electrical, HVAC, and a fully restored foundation. A new roof, fresh sod, irrigation, and pristine landscaping round out the turnkey appeal. Location-wise, it doesn’t get much better. Situated in one of Seminole Heights’ most walkable pockets, you’re just steps from neighborhood favorites like Spaddy’s Coffee Co., The Independent, Health Mutt, parks, yoga studios, weekend markets, and some of Tampa’s best dining. This isn’t just a home — it’s a piece of Tampa history, thoughtfully updated for today’s homeowner. Homes like this rarely come on the market. Schedule your private showing and experience the magic of this historic Seminole Heights gem for yourself.
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Location
Property Details
Parking
- Description: Driveway, Off Street, On Street, Parking Pad
- 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: 3
- # of Stories: 2
- Basement Description: Crawl Space
Exterior Features
- Exterior Walls Materials: Wood Siding
- Roof Type: Gable or Hip
- Roof Material: Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: A0129184G0000002000080
- Lot Size: 7840 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1905
Tax Information
- Annual Tax: $10,742
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Hillsborough
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,836
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -12.1%
- Debt Coverage Ratio
- 0.55
- Internal Rate of Return (5 years)
- -7.7%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $789,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$631,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $157,980 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $23,697 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $181,677 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,410 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $328 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $1.87 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $631,920 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 6.625% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $4,046 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $895 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $315 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $5,256 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $4,500 | $54,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$270 | -$3,240 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,230 | $50,760 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 20% | -$895 | -$10,742 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$315 | -$3,780 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$360 | -$4,320 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$225 | -$2,700 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$225 | -$2,700 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | n/a | n/a | n/a |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 45% | -$2,020 | -$24,242 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $2,210 | $26,520 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$4,046 | -$48,552 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,836 | $22,032 |