Investment properties Tampa Bay
The population in Tampa Bay expands faster than the national average and rental market is busier than ever. Tampa Bay apartment's occupancy rate is higher than 95% and the rental prices are going up.
My market analysis reveals the areas with high rental demand and high price appreciation rate. There are communities where the prices are still lower than back in 2006 that allows high appreciation rate. (Please see below the price charts of condos in particular communities)
This communities offer superior amenities, low HOA fee and easy rental rules and of course a good location.
Given the current market conditions: high demand and increasing prices, the inventory of good investment properties on the market is limited so you need to act quick in order to get a good income property.
Invest in Vacation Rental
Purchase Price $ 270,000
Down payment 20% $ 54,000
Projected Annual Income $ $33,000-$36,000
Annual Expenses $24,000
Monthly expenses: $1,160 Mortgage +Taxes $333+Home Insurance $100+$HOA fee $410=$2,000
Annual NET $9,000-$12,000
ROI Cash on Cash Return 16%-22 %
Beach Vacation Rentals in Tampa Bay make from $30,000–45,000 a year.
Here is rental history of a 2 B 2 B Condo located on Golf course right across the bridge from St Pete beach.
Monthly expenses are minimal because HOA $369-$410 covers: Flood insurance, cable, internet, water and amenities.
Average selling price in the community is $270,000, in 2006 these condos were selling for $355,000 so there is a great potential for price appreciation.
Great potential for price appreciation. Currently the prices are 30% below the peak values
