1903 E 23rd Ave · Tampa, FL 33605

$285,000

3 bd · 2.0 ba · 1,204 sqft · SingleFamily public records · 12 Days on market

Built 1993 7,968 sqft lot

---

Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.6/10.0

Listing remarks

Investor Opportunity in East Tampa! Welcome to 1903 E 23rd Ave, a solid income-producing property with a tenant in place making it an excellent opportunity for those seeking immediate cash flow. This spacious 3-bedroom, 1.5-bath home features an open-concept layout with a large living room and dining area, creating a comfortable and functional living space. The primary bedroom offers a convenient Jack-and-Jill bathroom configuration, while the open kitchen provides ample cabinet space and includes a stove and refrigerator. An interior laundry area adds everyday convenience. Major improvements include a roof replaced in 2020 and A/C installed in 2017, helping reduce near-term maintenance con

Key facts

• Ample cabinet space
• A c installed
• Open concept layout

Tags

• OPEN CONCEPT LAYOUT
• JACK AND JILL BATHROOM
• AMPLE CABINET SPACE
• INTERIOR LAUNDRY AREA
• ROOF REPLACED
• A C INSTALLED

Property features AI

Finance

• Other: Unfurnished
• Financial info: No lease restrictions
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer; Cable connected; Sewer connected
• Home design: Single family residence; Residential property; One story; Faces west; RS-50 zoning
• Construction: Block construction; Shingle roof; Slab foundation; Built on a 0.18-acre lot (approx. 83 x 95)
• Exterior features: Private mailbox; Sidewalk; Corner lot; Asphalt road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floorplan; Living room and dining room combo; Six total rooms
• Laundry & utility: Laundry inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-351 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (21.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (28.4% below list).
• Recommended offer: $204k (28.4% below list) — sets the bar for 1% rule.

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: Potter Elementary School (math 32% / reading 22%, grade F, #1,969 of 2,144 statewide, top 94%, 472 students, 89% FRL); Mclane Middle School (math 20% / reading 20%, grade F, #558 of 571 statewide, top 98%, 817 students, 74% FRL); Middleton High School (math 23% / reading 51%, grade F, #340 of 667 statewide, top 52%, 1,511 students, 57% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 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 flat; 190 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• At $2,040/mo this rent would consume 66% of the median local household income ($37k/yr) (locally 1374% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; list at $285k implies a 360% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,999 (28.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.72% ✗
• Cap rate: 4.81%
• Cash-on-cash: -5.28%
• DSCR: 0.76
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.58% rent growth · sell at horizon

5-year hold

• IRR: 19.9%
• Equity multiple: 2.60×
• Total profit: $128,024
• Equity at exit: $256,751

10-year hold

• IRR: 17.7%
• Equity multiple: 5.83×
• Total profit: $385,753
• Equity at exit: $553,692

Cash invested: $79,800 (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 33605

• Home prices YoY: 3.7%
• Rents YoY: 0.6%
• Active inventory: 190
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,040 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$350 /mo · $4,194/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-351

Break-even live

Break-even rent $2,485

Max offer price $222,950

Occupancy floor —

Sensitivity live

Price	-10% $-190	-5% $-271	+0% $-351	+5% $-432	+10% $-513
Rent	-10% $-512	-5% $-432	+0% $-351	+5% $-271	+10% $-190
Rate	-1.0pp $-208	-0.5pp $-279	base $-351	+0.5pp $-425	+1.0pp $-500

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1807 E 20th Ave Tampa, FL	3.0	2.0	1131	$2,900	$2.56	26d	1	0.17mi
2108 E 22nd Ave Tampa, FL	3.0	3.0	1308	$2,100	$1.61	6d	1	0.17mi
2108 E 22nd Ave Tampa, FL	3.0	3.0	1308	$2,100	$1.61	5d	1	0.17mi
2909 N 17th St Tampa, FL	2.0	1.0	750	$1,350	$1.80	23d	1	0.19mi
3210 N 16th St Tampa, FL	4.0	2.0	1380	$1,995	$1.45	23d	1	0.24mi
3210 N 16th St Tampa, FL	4.0	2.0	1380	$1,875	$1.36	1d	1	0.24mi
3210 N 16th St Tampa, FL	4.0	2.0	1380	$1,875	$1.36	4d	1	0.24mi
3021 Sanchez St Tampa, FL	3.0	1.0	1300	$2,195	$1.69	26d	1	0.25mi
3005 Sanchez St Unit 5 Tampa, FL	2.0	1.0	750	$1,050	$1.40	4d	1	0.26mi
3005 Sanchez St Unit 5 Tampa, FL	2.0	1.0	750	$1,050	$1.40	1d	1	0.26mi
2002 E 18th Ave Tampa, FL	4.0	2.0	1084	$2,400	$2.21	6d	1	0.28mi
2205 Chipco St Tampa, FL	2.0	1.0	1100	$1,600	$1.45	26d	1	0.32mi
1607 E 18th Ave Tampa, FL	2.0	1.0	869	$2,600	$2.99	14d	1	0.34mi
2810 N 16th St Tampa, FL	2.0	1.0	1066	$2,550	$2.39	14d	1	0.34mi
1605 E 29th Ave Tampa, FL	3.0	1.0	870	$1,800	$2.07	22d	1	0.35mi
2907 N 15th St Unit D Tampa, FL	3.0	2.0	888	$1,850	$2.08	6d	1	0.35mi
2214 E 18th Ave Tampa, FL	3.0	2.0	1188	$2,295	$1.93	6d	1	0.36mi
2006 E Columbus Dr Unit A Tampa, FL	2.0	1.0	896	$1,495	$1.67	3d	1	0.36mi
1716 E Columbus Dr Unit A Tampa, FL	2.0	1.0	924	$1,800	$1.95	26d	1	0.36mi
2104 E Columbus Dr Unit 301 Tampa, FL	3.0	2.0	1083	$2,050	$1.89	26d	1	0.38mi
2104 E Columbus Dr Tampa, FL	3.0	2.0	1231	$1,995	$1.62	26d	1	0.38mi
2407 E 17th Ave Tampa, FL	3.0	2.0	810	$1,650	$2.04	23d	1	0.46mi
2407 E 17th Ave Unit B Tampa, FL	3.0	2.0	810	$1,650	$2.04	19d	1	0.46mi
2407 E 17th Ave Apt A Tampa, FL	3.0	2.0	810	$1,595	$1.97	12d	1	0.46mi
2407 E 17th Ave Apt A Tampa, FL	3.0	2.0	810	$1,650	$2.04	16d	1	0.46mi
2407 E 17th Ave Tampa, FL	3.0	2.0	810	$1,595	$1.97	1d	1	0.46mi
2407 E 17th Ave Tampa, FL	3.0	2.0	810	$1,650	$2.04	26d	1	0.46mi
2703 N 24th St Unit 1 Tampa, FL	3.0	3.0	1164	$2,295	$1.97	1d	1	0.46mi
2703 N 24th St Unit 1 Tampa, FL	3.0	3.0	1164	$2,295	$1.97	15d	1	0.46mi
1302 E 21st Ave Tampa, FL	1.0–2.0	1.0–2.0	800	$1,408	$1.76	1d	8	0.47mi
1515 E 31st Ave Tampa, FL	2.0	1.0	914	$1,500	$1.64	6d	1	0.50mi
3411 N 13th St Tampa, FL	3.0	2.0	978	$1,895	$1.94	26d	1	0.50mi
2308 E 15th Ave Tampa, FL	3.0	1.0	936	$1,895	$2.02	16d	1	0.50mi
1212 E 25th Ave Tampa, FL	2.0	1.0	1035	$1,490	$1.44	21d	1	0.51mi
2704 E 25th Ave Tampa, FL	3.0	1.0	858	$1,595	$1.86	23d	1	0.53mi
2506 E Columbus Dr Tampa, FL	2.0	1.0	796	$1,950	$2.45	19d	1	0.53mi
1211 E 18th Ave Unit 2 Tampa, FL	2.0	1.0	725	$1,700	$2.34	0d	1	0.56mi
1221 E Columbus Dr Tampa, FL	2.0	1.0	1000	$1,499	$1.50	26d	1	0.59mi
1105 E 28th Ave Tampa, FL	3.0	1.0	744	$1,525	$2.05	6d	1	0.64mi
1305 E Louise Ave Tampa, FL	3.0	2.0	1384	$2,700	$1.95	26d	1	0.66mi

Listing history 9 events

1. 2026-06-21
   days on market $285,000 Active 12 DOM
2. 2026-06-18
   days on market $285,000 Active 9 DOM
3. 2026-06-17
   days on market $285,000 Active 8 DOM
4. 2026-06-16
   days on market $285,000 Active 7 DOM
5. 2026-06-15
   days on market $285,000 Active 6 DOM
6. 2026-06-13
   days on market $285,000 Active 4 DOM
7. 2026-06-13
   days on market $285,000 Active 3 DOM
8. 2026-06-10
   remarks 699-char remark
9. 2026-06-10
   listed $285,000 Active 1 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: $4,194 · $350/mo
• Projected year-2 tax: $4,194 · $350/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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: $24,480
• − Mortgage interest: −$15,964
• − Property taxes: −$4,194
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,958
• − Management: −$1,958
• − Depreciation: −$8,291
• Taxable loss: −$9,312
• Est. tax savings @ 24.0%: +$2,235
• After-tax cash flow: $-1,980/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): 16,030
• Household income: $36,975
• Rent vs Own: 59.8% rent · 40.2% own
• Severe rent burden: 1374.0

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 0.66)
• Race & ethnicity: Black 48% Hispanic / Latino 28% Two or more races 18% White 17% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 8% Cuban 6% Dominican 1%
• Common ancestry: Hispanic 2% Romanian 1% Lithuanian 1%
• Foreign-born: 17% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 24% French/Haitian/Cajun 3% Other Asian/Pacific 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: ▲ 17.43%
• Current HPI: 494.1871
• Rent YoY: ▲ 0.58%
• 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

+359.7% since first listed

4 events — show timeline

• 2026-06-09 Listed $285,000 Stellar MLS as Distributed by MLS Grid
• 2021-02-19 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-01-27 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 1993-12-20 Sold (Public Records) $62,000 Public Records

Property tax history

+12.7%/yr

Latest (2025): $4,194 · +11.4% YoY. Source: county tax records.