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$350,000

For Sale - Active
606 N Merrin St, Plant City, FL 33563
4 Beds
3 Baths
2,267 Square Feet
0.19 Acres Lot
Built in 1900
For Sale - Active
1 Units
Checked: 14 hours ago
Updated: Jul 15, 2025 at 09:32PM

Investment Summary


Monthly Cash Flow
-$232
Cap Rate
5.4%
Cash-on-Cash Return
-3.5%
Debt Coverage Ratio
0.87
Internal Rate of Return (5 years)
0.6%

Property Description


0.19 Acres Lot
Built in 1900
For Sale - Active
1 Units

Welcome, historic home lovers and savvy investors! This charming early 1900s bungalow sits on a corner lot in the heart of Plant City and offers over 2,200 sq ft with 4 bedrooms and 3 baths. Enjoy a spacious great room, cozy living area, formal dining, and a convenient first-floor primary suite. Upstairs features a loft, two bedrooms, and a full bath. Thoughtful updates include freshly painted kitchen cabinets, new upstairs flooring, a brand-new front deck, and updated systems like the roof and AC (2017), garage roof (2022), water heater, well pump, and garage doors. Come bring your finishing touches to restore this beauty to its full glory! This home needs cosmetic updates and TLC, making it a fantastic opportunity to restore its historic character or reimagine it as an income-producing property. Located within walking distance to Plant City’s historic district and vibrant downtown—enjoy Main Street’s charm, McCall Park’s twinkling lights, and a variety of local restaurants, cafés, and antique shops. Don’t miss your chance to own a piece of Plant City’s history—this home is a blank canvas ready for your vision!

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Location


Property Details


Parking

  • Description: Carport
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 2
  • Basement Description: Crawl Space

Exterior Features

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

Land Information

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

Lot Information

  • Parcel ID: P2828225BI000018000030
  • Lot Size: 8450 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Bungalow, Historic
  • Year Built: 1900

Tax Information

  • Annual Tax: $4,447

Utilities

  • Water & Sewer: Private, Well
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Hillsborough

Listing Details


Listed by:
Maricruz Medina
TIME INTERNATIONAL REALTY
(786) 366-2016

Source:
Stellar MLS
MLS#: TB8396834
Stellar MLS

Investment Summary


Monthly Cash Flow
-$232
Cap Rate
5.4%
Cash-on-Cash Return
-3.5%
Debt Coverage Ratio
0.87
Internal Rate of Return (5 years)
0.6%

Purchase Details

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Purchase price:
$350,000
Amount financed:
-$280,000
Down payment:
$70,000
Closing costs:
$10,500
Rehab costs:
$0
Initial cash invested:
$80,500
Square feet:
2,267
Cost per square foot:
$154
Monthly rent per square foot:
$1.24

Financing Details

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Loan amount:
$280,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,793
Property tax:
$371
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,360

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,800 $33,600
Vacancy loss: (6%)
6% -$168 -$2,016
Operating income:
$2,632 $31,584

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$371-$4,447
Insurance: (7%)
7%-$196-$2,352
Property management: (8%)
8%-$224-$2,688
Repairs & maintenance: (5%)
5%-$140-$1,680
Capital expenditures: (5%)
5%-$140-$1,680
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (38%)
38%-$1,071-$12,847

Cash Flow


Monthly Yearly
Net operating income:
$1,561 $18,732
Mortgage payments:
-$1,793 -$21,516
Cash flow:
$232 $2,784