1023 N 2822 N. Elmore Ave. Dr · Tampa, FL 33602

$479,900

5 bd · 2.0 ba · 3,527 sqft · SingleFamily public records · 103 Days on market

Built 1950 10,234 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 +24.2/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Don’t miss out on 1023 N Bask Dr. , a warm and welcoming Wellswood retreat where thoughtful UPDATES come together to create a home that feels “just right” for those seeking to DOWNSIZE or purchase for the first time. The inviting living room sets a peaceful tone with its cozy stone fireplace, wood-accented walls, and beautiful natural light. UPDATED luxury vinyl plank flooring (2021 & 2025) flows throughout the home for low-stress living. Continuing the theme of simplicity, the kitchen features 2017 cabinetry, granite countertops, and stainless steel appliances. With an UPDATED electric RANGE, a 2022 refrigerator, and 2021 countertops, style blends with everyday. Jus

Key facts

• Cozy stone fireplace
• Stained glass window
• Natural light

Tags

• COZY STONE FIREPLACE
• NATURAL LIGHT
• LUXURY VINYL PLANK FLOORING
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• STAINED GLASS WINDOW

Property features AI

Finance

• Other: Homestead exempt; Unfurnished; Living area reported as 1,732 sq ft (public records); Building area total reported as 2,166 sq ft (public records)
• HOA & community: No HOA association indicated; Pets allowed

Exterior

• Parking: Detached garage (21 x 21) with garage door opener; 1 garage space; Has carport with 1 carport space; Driveway and off-street parking
• Utilities: Private water; Public sewer; Electricity connected; Sewer connected; Water connected; Cable available; Fire hydrant on property
• Home design: Single family residence; One level; Faces west; Residential zoning RS-60
• Construction: Frame construction; Shingle roof; Pillar/post/pier foundation; Built as a residential single-family home
• Exterior features: Covered, enclosed and screened front and rear porches; Fire pit; Outdoor shower; Rain gutters; Wood fencing; Fruit trees and mature landscaping; Near public transit; Paved driveway; Public maintained asphalt road

Interior

• Kitchen: Built-in oven; Dishwasher; Disposal; Microwave; Range; Refrigerator; Stone counters; Solid wood cabinets
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Solid wood cabinets; Stone counters; Walk-in closets; ENERGY STAR qualified windows; Storm windows; Wood-burning fireplace; Formal dining room separate; Great room; Inside utility / laundry room; Crawl space
• Laundry & utility: Washer; Dryer; Inside laundry room; Irrigation equipment

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $480k.

Deal economics

• At list price, monthly cash flow is $957 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $477k (0.6% below list).
• Recommended offer: $437k (9.0% 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: 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.
• Zoned schools: Hillsborough High School (math 30% / reading 48%, grade F, #312 of 667 statewide, top 48%, 1,891 students, 56% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents soft (-1.8%/yr); 289 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• At $4,772/mo this rent would consume 59% of the median local household income ($97k/yr) (locally 1919% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 103 days — a 9% lower offer ($437k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $100k; list at $480k implies a 380% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $436,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 8.69%
• Cash-on-cash: 8.55%
• DSCR: 1.38
• GRM: 8.4

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: -6.4%
• Equity multiple: 0.77×
• Total profit: $-31,044
• Equity at exit: $71,555

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-3,572
• Equity at exit: $41,493

Cash invested: $134,372 (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 33602

• Home prices YoY: -29.9%
• Rents YoY: -1.8%
• Active inventory: 289
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $4,772 medium
• Mortgage (P&I): −$2,517
• Tax from tax record: −$97 /mo · $1,160/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,002
• Net cashflow: $957

Break-even live

Break-even rent $3,561

Max offer price $479,900

Occupancy floor 75%

Sensitivity live

Price	-10% $1,229	-5% $1,093	+0% $957	+5% $821	+10% $685
Rent	-10% $580	-5% $768	+0% $957	+5% $1,145	+10% $1,334
Rate	-1.0pp $1,199	-0.5pp $1,079	base $957	+0.5pp $833	+1.0pp $706

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: $119,975
• Closing costs: $14,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 W Columbus Dr Tampa, FL	4.0	4.0	2450	$5,795	$2.37	25d	1	0.60mi
4114 N Nebraska Ave Tampa, FL	4.0	5.0	2824	$3,850	$1.36	25d	1	0.95mi

Listing history 2 events

1. 2026-06-02
   remarks 677-char remark
2. 2026-06-02
   listed $479,900 Active 103 DOM

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,160 · $97/mo
• Projected year-2 tax: $3,983 · $332/mo
• Expected delta: +$2,823/yr (+$235/mo · 243.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,269
• − Mortgage interest: −$26,882
• − Property taxes: −$1,160
• − Insurance: −$2,400
• − Repairs & maintenance: −$4,581
• − Management: −$4,581
• − Depreciation: −$13,961
• Taxable income: $3,703
• Est. tax owed @ 24.0%: −$889
• After-tax cash flow: $10,594/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): 21,452
• Household income: $97,320
• Rent vs Own: 72.9% rent · 27.1% own
• Severe rent burden: 1919.0

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 0.63)
• Race & ethnicity: White 55% Hispanic / Latino 22% Two or more races 13% Black 13% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 7%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 17% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 18% Other Indo-European 3% Russian/Polish/Slavic 1%

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: ▼ -178.90%
• Current HPI: 420.3367
• Rent YoY: ▼ -1.80%
• 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

1 event — show timeline

• 1999-10-28 Sold (Public Records) $100,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,160 · +9.2% YoY. Source: county tax records.