tomo logo

$375,000

Beds
4
Baths
3.0
sq ft
1,388

305 E Adalee St, Tampa, FL 33603

305 E Adalee St

TAMPA, FL 33603

  • 22 days on market
CASH ONLY Fixer-Upper in Prime Tampa Location with rough plumbing, rough electrical and framing. Opportunity Overview: This is a rare investment opportunity to purchase a nearly-completed property at a significantly reduced price. The project is perfect for an investor looking to add their personal touch to the finishes and fixtures, or for a savvy flipper aiming to resell at a substantial profit. *Key Features: 1. Prime Location: - Situated in a central location with charming brick streets and majestic hundred-year-old Oaks. - Just minutes from Downtown Tampa, Armature Works, Amalie Arena, and other popular destinations. 2. Strong Market Potential: - Comparable homes in the area are selling for well over half a million dollars, ensuring a high resale value. 3. Essential Upgrades Already Completed: - New Roof installed in 2024. - Newer AC and a brand new water heater for modern efficiency and reliability. - An added bathroom for an extra en-suite bedroom/bathroom, increasing the property's value and appeal. Appliances and fixtures on site Washer/dryer, refrigerator, 3 pedestal sinks and 1 toilet. 4. Additional Improvements: - Indoor laundry closet with complete hookups for convenience. - Added pantry closet to enhance kitchen functionality. *Investment Benefits: - High ROI Potential: - With the heavy lifting already done, you can focus on the high-return aspects of the project – choosing finishes and fixtures that appeal to the market. - Flexibility: - Customize the property to your taste or according to current market trends to maximize appeal and resale value. - Seller's Loss is Your Gain: - The seller ran out of cash, which is an excellent opportunity for you to capitalize on the remaining work at a fraction of the cost. - The fireplace is not warranted and hasn't been tested by the current owner, providing an opportunity to either renovate it as a unique feature or repurpose the space creatively. This property is a diamond in the rough, positioned for significant appreciation in a coveted neighborhood. Don’t miss out on this lucrative investment opportunity to complete and capitalize on a near-finished project in a booming real estate market. Contact Us Today, Act fast to secure this cash-only deal and transform this promising property into a high-value asset.

Details

Property type

Single Family Residence

Est. home value

$361,872

Lot size

7,031 sq ft

Price per sq ft

$271

Year built

1920

Annual property taxes

$4,429.2

Price History

06/11/2024
StellarMLS

StellarMLS #U8246240

Listed
$375,000

Schools & Community

Neighborhood: 

Tampa Heights

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Norm Novitsky

Loan start date

July 2023

Original loan amount

$307,500

Est. remaining balance

Not provided

Interest rate

6.39%

Loan type

Balloon

Seller

Outflow Properties Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Similar Homes Nearby

Price drop
StellarMLS
$385,000
4 bd
|
3 ba
|
1,948 sq ft
|
House

1506 E 18th Ave, Tampa, FL 33605

Price drop
StellarMLS
$394,999
4 bd
|
3 ba
|
1,720 sq ft
|
House

3508 N Avenida Republica de Cuba, Tampa, FL 33605

Price drop
StellarMLS
$380,000
4 bd
|
2.5 ba
|
1,499 sq ft
|
House

3005 Ybor St, Tampa, FL 33605

Status: Active

Tomo last checked: 07/03/2024 at 12:25 PM

Listing updated: 06/14/2024 at 4:33 PM

Listed by: Tiffany Novitsky, LAUREN MICHAELS R.E. PARTNERS Phone #: (727) 298-8888

MLS: StellarMLS #U8246240

StellarMLS logo

Recently listed in TAMPA