1209 E DR Martin Luther King JR Blvd · Tampa, FL 33603

$199,000

3 bd · 1.0 ba · 1,024 sqft · SingleFamily · 50 Days on market

Built 1915 6,188 sqft lot

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors and entrepreneurs! This versatile 3-bedroom, 1-bath property in Hillsborough County offers a unique opportunity with commercial zoning, allowing for both residential living and business use. Previously utilized for commercial purposes on multiple occasions, it presents an ideal setup for those looking to operate a business from home. Built in 1915, this 1,024 sq ft home blends historic charm with functional updates, featuring wood flooring, central A/C, and access to public utilities. Situated on a 6,188 sq ft lot, the property provides convenient access to Interstate 275 and is just minutes from local shopping, dining, and other amenities. Whether you’re an inve

Key facts

• Wood flooring
• Historic charm
• Central a/c

Tags

• HISTORIC CHARM
• WOOD FLOORING
• CENTRAL A/C
• ACCESS TO PUBLIC UTILITIES

Property features AI

Finance

• Other: Zoned CG (commercial general); Total lot approximately 0.14 acres (52 x 119); Living area about 1,024 sq ft (building area 1,144 sq ft); Unfurnished; No lease restrictions
• HOA & community: No HOA

Exterior

• Parking: Asphalt road access
• Utilities: Public water; Public sewer; Cable available; Electricity available; Fire hydrant nearby; Sewer connected
• Home design: Single family residence; One story; North-facing
• Construction: Asbestos construction materials; Shingle roof; Crawlspace foundation; Built on 1 story
• Exterior features: Sidewalk

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; High ceilings; Open floorplan; Other interior features
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#142 in FL, #2,135 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools C-, crime D+.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.3%/yr); 207 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• This rent runs 35% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.68×
• Total profit: $-18,003
• Equity at exit: $29,672

10-year hold

• IRR: -4.2%
• Equity multiple: 0.76×
• Total profit: $-13,470
• Equity at exit: $17,206

Cash invested: $55,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33603

• Rents YoY: -1.3%
• Active inventory: 207
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,148 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $322

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 80%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1305 E Louise Ave Tampa, FL	3.0	2.0	1384	$2,700	$1.95	24d	1	0.14mi
1504 E 33rd Ave Tampa, FL	3.0	2.0	1108	$2,900	$2.62	24d	1	0.22mi
4207 N 13th St Unit A Tampa, FL	2.0	2.0	832	$2,150	$2.58	24d	1	0.22mi
1515 E 31st Ave Tampa, FL	2.0	1.0	914	$1,500	$1.64	5d	1	0.31mi
3519 N 10th St Tampa, FL	3.0	2.0	1200	$1,850	$1.54	18d	1	0.32mi
3511 Cone Ct Tampa, FL	3.0	2.0	1256	$2,200	$1.75	5d	1	0.32mi
1602 E North Bay St Tampa, FL	3.0	2.0	1200	$2,100	$1.75	24d	1	0.33mi
1105 E 28th Ave Tampa, FL	3.0	1.0	744	$1,525	$2.05	5d	1	0.37mi
1301 E Cayuga St Tampa, FL	3.0	1.5	1216	$2,200	$1.81	24d	1	0.38mi
3411 N 13th St Tampa, FL	3.0	2.0	978	$1,895	$1.94	24d	1	0.40mi
807 E Genesee St Unit 1/2 Tampa, FL	3.0	2.0	1414	$2,400	$1.70	22d	1	0.44mi
807 E Genesee St Tampa, FL	3.0	2.0	1414	$2,400	$1.70	20d	1	0.44mi
1605 E 29th Ave Tampa, FL	3.0	1.0	870	$1,800	$2.07	20d	1	0.46mi
809 E Baker St Unit A Tampa, FL	3.0	1.0	1083	$2,200	$2.03	24d	1	0.48mi
1501 E Palifox St Tampa, FL	3.0	2.0	1248	$1,750	$1.40	14d	1	0.48mi
1006 E 26th Ave Tampa, FL	2.0	1.0	1000	$1,630	$1.63	5d	1	0.49mi
1709 E Chelsea St Unit F Tampa, FL	2.0	1.0	1041	$1,625	$1.56	24d	1	0.49mi
806 E Chelsea St Unit 4 Tampa, FL	2.0	1.0	850	$1,790	$2.11	24d	1	0.50mi
709 E James St Tampa, FL	2.0	1.0	768	$1,695	$2.21	12d	1	0.51mi
1212 E 25th Ave Tampa, FL	2.0	1.0	1035	$1,490	$1.44	19d	1	0.52mi
902 E Curtis St Unit 1 Tampa, FL	2.0	2.0	1325	$3,200	$2.42	18d	1	0.57mi
3210 N 16th St Tampa, FL	4.0	2.0	1380	$1,995	$1.45	22d	1	0.61mi
3210 N 16th St Tampa, FL	4.0	2.0	1380	$1,875	$1.36	3d	1	0.61mi
4017 N Seminole Ave Tampa, FL	4.0	1.0	1104	$1,950	$1.77	24d	1	0.63mi
3021 Sanchez St Tampa, FL	3.0	1.0	1300	$2,195	$1.69	24d	1	0.66mi
309 E Selma Ave Tampa, FL	3.0	2.0	1170	$3,095	$2.65	5d	1	0.68mi
1302 E 21st Ave Tampa, FL	1.0–2.0	1.0–2.0	800	$1,408	$1.76	5d	9	0.70mi
1608 E New Orleans Ave Tampa, FL	4.0	2.0	1254	$1,895	$1.51	15d	1	0.71mi
1003 E 22nd Ave Tampa, FL	2.0	1.0	1062	$1,639	$1.54	5d	1	0.71mi
302 E Selma Ave Tampa, FL	3.0	1.0	989	$2,200	$2.22	24d	1	0.72mi
1711 E New Orleans Ave Tampa, FL	3.0	2.0	1136	$2,250	$1.98	20d	1	0.72mi
3005 Sanchez St Unit 5 Tampa, FL	2.0	1.0	750	$1,050	$1.40	3d	1	0.73mi
1517 E Ellicott St Tampa, FL	3.0	2.0	1292	$2,225	$1.72	17d	1	0.75mi
1202 E Caracas St Tampa, FL	3.0	3.0	1224	$2,595	$2.12	24d	1	0.77mi
912 E Saint Clair St Tampa, FL	2.0	1.0	1000	$1,900	$1.90	24d	1	0.77mi
2205 Chipco St Tampa, FL	2.0	1.0	1100	$1,600	$1.45	24d	1	0.82mi
2402 E Doctor Martin Luther King Junior Blvd Tampa, FL	2.0	1.0	710	$1,699	$2.39	24d	1	0.83mi
2907 N 15th St Unit D Tampa, FL	3.0	2.0	888	$1,850	$2.08	5d	1	0.84mi
411 E Adalee St Tampa, FL	3.0	1.0	1200	$2,500	$2.08	24d	1	0.86mi
2909 N 17th St Tampa, FL	2.0	1.0	750	$1,350	$1.80	22d	1	0.87mi

Listing history 33 events

1. 2026-06-18
   days on market $199,000 Active 50 DOM
2. 2026-06-17
   days on market $199,000 Active 49 DOM
3. 2026-06-16
   days on market $199,000 Active 48 DOM
4. 2026-06-15
   days on market $199,000 Active 47 DOM
5. 2026-06-13
   days on market $199,000 Active 45 DOM
6. 2026-06-13
   days on market $199,000 Active 44 DOM
7. 2026-06-09
   days on market $199,000 Active 41 DOM
8. 2026-06-08
   pricedays on market $199,000 Active 40 DOM
9. 2026-06-07
   days on market $205,000 Active 39 DOM
10. 2026-06-04
    days on market $205,000 Active 36 DOM
11. 2026-06-03
    days on market $205,000 Active 35 DOM
12. 2026-06-02
    days on market $205,000 Active 34 DOM
13. 2026-06-01
    days on market $205,000 Active 33 DOM
14. 2026-05-31
    days on market $205,000 Active 32 DOM
15. 2026-05-12
    price $205,000 856-char remark
16. 2026-05-11
    price $215,000 856-char remark
17. 2026-05-07
    price $219,000 856-char remark
18. 2026-04-29
    listed $229,000 Active 856-char remark
19. 2025-08-19
    historical
20. 2025-04-16
    price $225,000
21. 2025-03-17
    price $249,000
22. 2025-01-30
    status Active
23. 2025-01-15
    status Pending
24. 2025-01-13
    listed $275,000 Active
25. 2024-12-23
    historical
26. 2024-12-10
    price $325,000
27. 2024-09-25
    listed $350,000 Active
28. 2022-09-02
    historical
29. 2022-07-23
    price $329,000
30. 2022-05-30
    price $349,000
31. 2022-05-19
    price $369,000
32. 2022-05-11
    listed $399,000 Active
33. 2009-10-12
    listed $100,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,781
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,062
• − Management: −$2,062
• − Depreciation: −$5,789
• Taxable income: $740
• Est. tax owed @ 24.0%: −$178
• After-tax cash flow: $3,686/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hillsborough
• NCES district ID: 1200870
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $50,622
• Composite: 41.6/100
• National rank: #3435
• State rank: #41 of 73 in FL

Livability — Tampa

• Score: 79/100
• State rank: #142
• US rank: #2135

Category grades

Amenities B- Commute A+ Cost of living B Crime D+ Employment C Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tampa, FL
• County: Hillsborough County · 1,540,968 people
• City population: 523,346
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 19,869
• Household income: $74,081
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 800.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 1,607,022 people
• By 2030: 1,733,968 · +7.9%
• By 2040: 1,979,565 · +23.2%
• By 2050: 2,203,427 · +37.1%
• By 2075: 2,667,893 · +66.0%
• By 2100: 2,891,558 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 44% Hispanic / Latino 33% Two or more races 22% Black 17%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Cuban 15% Dominican 1%
• Common ancestry: Italian 3% Romanian 2% Slovak 2%
• Foreign-born: 18% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 25%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 47.8% · R 50.9% · Other 1.3%
• 2008→2024 swing: -10.2pp toward R · 2008: 7.1pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+6.9 2016: D+6.8 2012: D+6.7 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -256.57%
• Current HPI: 467.4179
• Rent YoY: ▼ -1.33%
• Metro: Tampa-St. Petersburg-Clearwater, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+99.0% since first listed

20 events — show timeline

• 2026-06-08 Price Changed $199,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-12 Price Changed $205,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-11 Price Changed $215,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-07 Price Changed $219,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Listed $229,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-19 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-16 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-17 Price Changed $249,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-01-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-01-13 Listed $275,000 Stellar MLS as Distributed by MLS Grid
• 2024-12-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-12-10 Price Changed $325,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-25 Listed $350,000 Stellar MLS as Distributed by MLS Grid
• 2022-09-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-07-23 Price Changed $329,000 Stellar MLS as Distributed by MLS Grid
• 2022-05-30 Price Changed $349,000 Stellar MLS as Distributed by MLS Grid
• 2022-05-19 Price Changed $369,000 Stellar MLS as Distributed by MLS Grid
• 2022-05-11 Listed $399,000 Stellar MLS as Distributed by MLS Grid
• 2009-10-12 Listed $100,000 Stellar MLS as Distributed by MLS Grid