2320 W Walnut St · Tampa, FL 33607

$199,900

2 bd · 1.0 ba · 1,219 sqft · SingleFamily public records · 217 Days on market

Built 1913 2,375 sqft lot

---

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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +6.1/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Charming 3-Bedroom Home in Old West Tampa – Just Minutes from Riverwalk! Welcome to this delightful 3-bedroom, 1-bathroom home nestled in the heart of Old West Tampa—a neighborhood full of character and charm. Just under 10 minutes from the Tampa Riverwalk, top-rated restaurants, and countless activities, this home offers both comfort and convenience in one of the city’s most vibrant locations. As you arrive, you’ll be greeted by a covered front porch—the perfect spot to enjoy your morning coffee or unwind in the evenings. Step inside to a warm and inviting formal living room, ideal for relaxing or hosting guests. Just be

Key facts

• Covered front porch
• Formal dining area
• Formal living room

Tags

• COVERED FRONT PORCH
• FORMAL LIVING ROOM
• NOOK SPACE
• FORMAL DINING AREA
• SEPARATE LAUNDRY ROOM
• GOOD SIZED BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% 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: Just Elementary School (math 12% / reading 17%, grade F, #2,137 of 2,144 statewide, top 100%, 281 students, 92% FRL); Monroe Middle Magnet School (math 31% / reading 39%, grade F, #416 of 571 statewide, top 74%, 412 students, 67% FRL); Blake High School (math 24% / reading 45%, grade F, #386 of 667 statewide, top 59%, 1,537 students, 55% FRL) — zoned schools average 71% FRL vs 52% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-20 pts) — the specific schools serving this property underperform the Hillsborough average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.6%/yr); 183 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 38% of the median local income ($70k/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 217 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask is 8591% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1913 — 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 $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 217 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — 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: 1.11% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.37%
• DSCR: 1.28
• GRM: 7.5

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: -10.0%
• Equity multiple: 0.64×
• Total profit: $-19,871
• Equity at exit: $29,806

10-year hold

• IRR: -5.7%
• Equity multiple: 0.68×
• Total profit: $-17,659
• Equity at exit: $17,284

Cash invested: $55,972 (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 33607

• Home prices YoY: -30.9%
• Rents YoY: -2.6%
• Active inventory: 183
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,209 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$317 /mo · $3,800/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $297

Break-even live

Break-even rent $1,833

Max offer price $199,900

Occupancy floor 82%

Sensitivity live

Price	-10% $410	-5% $354	+0% $297	+5% $241	+10% $184
Rent	-10% $123	-5% $210	+0% $297	+5% $384	+10% $472
Rate	-1.0pp $398	-0.5pp $348	base $297	+0.5pp $245	+1.0pp $193

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2002 N Armenia Ave Unit 7 Tampa, FL	2.0	1.0	771	$1,650	$2.14	26d	1	0.09mi
2519 W Walnut St Tampa, FL	2.0	1.0	700	$1,675	$2.39	26d	1	0.12mi
2116 W Pine St Tampa, FL	3.0	1.0	968	$2,000	$2.07	7d	1	0.15mi
2124 W Chestnut St Unit 1 Tampa, FL	2.0	2.0	972	$2,650	$2.73	7d	1	0.17mi
2124 W Chestnut St Unit 1 Tampa, FL	2.0	2.0	972	$2,650	$2.73	1d	1	0.17mi
2111 N Albany Ave Tampa, FL	2.0–5.0	2.0–4.0	1670	$1,029	$0.62	25d	1	0.22mi
2507 N Armenia Ave Tampa, FL	3.0	1.0	1200	$2,300	$1.92	26d	1	0.24mi
1934 W Spruce St Tampa, FL	3.0	2.5	1498	$3,500	$2.34	7d	1	0.24mi
1936 W Cherry St Tampa, FL	3.0	1.0	902	$2,195	$2.43	26d	1	0.24mi
1706 N Tampania Ave Unit D Tampa, FL	2.0	1.0	768	$1,850	$2.41	19d	1	0.26mi
2709 W Palmetto St Tampa, FL	3.0	2.0	1298	$2,581	$1.99	1d	1	0.28mi
1907 W Spruce St Tampa, FL	3.0	1.0	955	$2,649	$2.77	26d	1	0.28mi
2322 W Saint John St Unit A Tampa, FL	2.0	1.0	704	$1,500	$2.13	26d	1	0.30mi
2514 W Saint John St Tampa, FL	3.0	2.0	1166	$2,500	$2.14	19d	1	0.31mi
2514 W Saint John St Tampa, FL	3.0	2.0	1166	$2,500	$2.14	22d	1	0.31mi
2904 W Chestnut St Unit 3 Tampa, FL	2.0	1.0	780	$1,350	$1.73	1d	1	0.34mi
2904 W Chestnut St Apt 2 Tampa, FL	2.0	1.0	780	$1,399	$1.79	26d	1	0.34mi
2741 W Beach St Unit A Tampa, FL	2.0	1.0	900	$2,290	$2.54	26d	1	0.37mi
2901 W Main St Tampa, FL	3.0	2.0	1250	$2,450	$1.96	26d	1	0.37mi
1909 W Saint Conrad St Tampa, FL	3.0	1.0	963	$1,875	$1.95	0d	1	0.39mi
2921 W Walnut St Tampa, FL	2.0	2.0	1271	$2,100	$1.65	26d	1	0.39mi
2701 N Fremont Ave Tampa, FL	3.0	1.5	1500	$2,100	$1.40	19d	1	0.47mi
2007 N Rome Ave Unit 2006-201 (I-1527) Tampa, FL	2.0	1.0	816	$2,150	$2.63	26d	1	0.47mi
2007 N Rome Ave Unit 2007-107 B-1539 Tampa, FL	2.0	1.0	816	$2,150	$2.63	1d	1	0.47mi
1545 Spruce Ter Tampa, FL	3.0	1.0	944	$2,600	$2.75	1d	1	0.47mi
2317 W Grace St Unit 1312496P Tampa, FL	1.0	1.0	753	$4,070	$5.41	7d	1	0.48mi
2705 W Columbus Dr Tampa, FL	2.0	1.0	912	$2,100	$2.30	23d	1	0.52mi
2705 W Columbus Dr Unit NA Tampa, FL	2.0	1.0	912	$2,100	$2.30	22d	1	0.52mi
1733 W Saint Louis St Tampa, FL	3.0	1.0	950	$1,815	$1.91	19d	1	0.54mi
1733 W Saint Louis St Tampa, FL	3.0	1.0	950	$1,830	$1.93	16d	1	0.54mi
2113 W Cypress St Unit 2113-B Tampa, FL	2.0	1.0	700	$1,495	$2.14	26d	1	0.55mi
1731 W Saint Louis St Tampa, FL	3.0	2.0	1156	$2,195	$1.90	22d	1	0.55mi
2402 W Cypress St Tampa, FL	2.0	2.0	1020	$2,995	$2.94	19d	1	0.56mi
2410 W Cypress St Unit B Tampa, FL	2.0	1.0	752	$1,595	$2.12	26d	1	0.57mi
2410 W Cypress St Tampa, FL	2.0	1.0	752	$1,600	$2.13	26d	1	0.57mi
1914 W Aileen St Tampa, FL	3.0	1.0	1083	$2,450	$2.26	26d	1	0.60mi
800 N Howard Ave Tampa, FL	1.0–3.0	1.0–2.0	938	$3,297	$3.51	0d	9	0.62mi
3016 W Arch St Unit B Tampa, FL	1.0	1.0	800	$1,650	$2.06	19d	1	0.69mi
1504 W Grace St Tampa, FL	2.0	1.0	918	$1,900	$2.07	16d	1	0.75mi
3215 W Pine St Tampa, FL	2.0	1.0	1026	$2,200	$2.14	26d	1	0.76mi

Listing history 25 events

1. 2026-04-29
   historical $1,900
2. 2026-04-02
   status Pending
3. 2026-04-01
   price $1,900
4. 2026-03-26
   price $199,900
5. 2026-03-26
   status Active
6. 2026-02-27
   listed $2,300
7. 2026-02-26
   historical
8. 2025-12-30
   status Active
9. 2025-12-22
   status Pending
10. 2025-11-19
    status Active
11. 2025-11-19
    price $229,900
12. 2025-10-02
    status Pending
13. 2025-08-13
    price $239,900
14. 2025-07-24
    price $249,900
15. 2025-07-14
    price $269,900
16. 2025-07-01
    price $289,900
17. 2025-06-05
    listed $299,900 Active
18. 2024-06-20
    historical $2,275
19. 2024-05-22
    price $2,275
20. 2024-04-23
    price $2,375
21. 2024-04-05
    price $2,575
22. 2024-03-28
    listed $2,975
23. 2022-07-22
    soldstatus $204,800
24. 2022-06-10
    soldstatus $256,000
25. 2022-06-07
    soldstatus $207,900

ⓘ 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: $3,800 · $317/mo
• Projected year-2 tax: $3,800 · $317/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $26,512
• − Mortgage interest: −$11,198
• − Property taxes: −$3,800
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,121
• − Management: −$2,121
• − Depreciation: −$5,815
• Taxable income: $457
• Est. tax owed @ 24.0%: −$110
• After-tax cash flow: $3,455/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): 25,291
• Household income: $69,694
• Rent vs Own: 63.0% rent · 37.0% own
• Severe rent burden: 1994.0

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: Hispanic / Latino 45% White 30% Two or more races 24% Black 19% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 8% Cuban 22% Dominican 1%
• Common ancestry: Romanian 1% Lithuanian 1% Hispanic 1%
• Foreign-born: 28% · Canada, Jamaica
• Languages at home: 56% English-only · Spanish 38% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -196.77%
• Current HPI: 440.5067
• Rent YoY: ▼ -2.62%
• 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

-99.1% since first listed

25 events — show timeline

• 2026-04-29 Rental Removed $1,900 RentEngineListings
• 2026-04-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-01 Price Changed $1,900 RentEngineListings
• 2026-03-26 Price Changed $199,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Listed for Rent $2,300 RentEngineListings
• 2026-02-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-12-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-11-19 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-11-19 Price Changed $229,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-08-13 Price Changed $239,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-24 Price Changed $249,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-14 Price Changed $269,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-01 Price Changed $289,900 Stellar MLS as Distributed by MLS Grid
• 2025-06-05 Listed $299,900 Stellar MLS as Distributed by MLS Grid
• 2024-06-20 Rental Removed $2,275 STELLARMLS
• 2024-05-22 Price Changed $2,275 STELLARMLS
• 2024-04-23 Price Changed $2,375 STELLARMLS
• 2024-04-05 Price Changed $2,575 STELLARMLS
• 2024-03-28 Listed for Rent $2,975 STELLARMLS
• 2022-07-22 Sold (Public Records) $204,800 Public Records
• 2022-06-10 Sold (Public Records) $256,000 Public Records
• 2022-06-07 Sold (Public Records) $207,900 Public Records

Property tax history

+43.1%/yr

Latest (2025): $3,800 · +5.1% YoY. Source: county tax records.