2615 E 23rd Ave · Tampa, FL 33605

$200,000

3 bd · 2.0 ba · 1,120 sqft · SingleFamily public records · 7 Days on market

Built 1959 4,750 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 +21.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.1/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3/2 BLOCK HOME SOLD 'AS IS'. DUCT FOR A/C IN PLACE.

Key facts

• Easy access
• Value-add project
• Strong location

Tags

• STRONG LOCATION
• EASY ACCESS
• HIGH RENTAL DEMAND
• SOLID UPSIDE POTENTIAL
• VALUE-ADD PROJECT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).

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 flat; 190 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2,026/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 $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.6% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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 $67k; list at $200k implies a 199% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $200,000

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.30
• GRM: 8.2

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: 28.2%
• Equity multiple: 3.21×
• Total profit: $123,792
• Equity at exit: $180,176

10-year hold

• IRR: 23.9%
• Equity multiple: 7.07×
• Total profit: $340,156
• Equity at exit: $388,556

Cash invested: $56,000 (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: 8.2×

Monthly cashflow live

• Estimated rent: $2,026 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$159 /mo · $1,912/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $309

Break-even live

Break-even rent $1,635

Max offer price $200,000

Occupancy floor 80%

Sensitivity live

Price	-10% $423	-5% $366	+0% $309	+5% $253	+10% $196
Rent	-10% $149	-5% $229	+0% $309	+5% $390	+10% $470
Rate	-1.0pp $410	-0.5pp $360	base $309	+0.5pp $258	+1.0pp $205

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2704 E 25th Ave Tampa, FL	3.0	1.0	858	$1,595	$1.86	22d	1	0.11mi
3101 E 18th Ave Tampa, FL	3.0	1.0	1050	$1,750	$1.67	4d	1	0.34mi
3107 Chipco St Tampa, FL	3.0	1.0	1268	$1,799	$1.42	25d	1	0.35mi
2506 E Columbus Dr Tampa, FL	2.0	1.0	796	$1,950	$2.45	18d	1	0.38mi
2205 Chipco St Tampa, FL	2.0	1.0	1100	$1,600	$1.45	25d	1	0.39mi
2214 E 18th Ave Tampa, FL	3.0	2.0	1188	$2,295	$1.93	6d	1	0.39mi
2108 E 22nd Ave Tampa, FL	3.0	3.0	1308	$2,100	$1.61	4d	1	0.39mi
2108 E 22nd Ave Tampa, FL	3.0	3.0	1308	$2,100	$1.61	6d	1	0.39mi
2407 E 17th Ave Apt A Tampa, FL	3.0	2.0	810	$1,595	$1.97	12d	1	0.40mi
2407 E 17th Ave Apt A Tampa, FL	3.0	2.0	810	$1,650	$2.04	15d	1	0.40mi
2407 E 17th Ave Tampa, FL	3.0	2.0	810	$1,595	$1.97	0d	1	0.40mi
2407 E 17th Ave Tampa, FL	3.0	2.0	810	$1,650	$2.04	22d	1	0.40mi
2407 E 17th Ave Tampa, FL	3.0	2.0	810	$1,650	$2.04	25d	1	0.40mi
2407 E 17th Ave Unit B Tampa, FL	3.0	2.0	810	$1,650	$2.04	18d	1	0.40mi
2703 N 24th St Unit 1 Tampa, FL	3.0	3.0	1164	$2,295	$1.97	15d	1	0.42mi
2703 N 24th St Unit 1 Tampa, FL	3.0	3.0	1164	$2,295	$1.97	0d	1	0.42mi
2308 E 15th Ave Tampa, FL	3.0	1.0	936	$1,895	$2.02	15d	1	0.47mi
2002 E 18th Ave Tampa, FL	4.0	2.0	1084	$2,400	$2.21	6d	1	0.50mi
2104 E Columbus Dr Tampa, FL	3.0	2.0	1231	$1,995	$1.62	25d	1	0.51mi
2104 E Columbus Dr Unit 301 Tampa, FL	3.0	2.0	1083	$2,050	$1.89	25d	1	0.51mi
2607 Lindell Ave Tampa, FL	4.0	2.0	1448	$2,395	$1.65	3d	1	0.54mi
3716 N 31st St Tampa, FL	3.0	2.0	1200	$1,895	$1.58	6d	1	0.55mi
2504 E 12th Ave Tampa, FL	3.0	2.0	1422	$2,500	$1.76	6d	1	0.57mi
2006 E Columbus Dr Unit A Tampa, FL	2.0	1.0	896	$1,495	$1.67	2d	1	0.57mi
3511 Bishop Eddie Newkirk Way Tampa, FL	3.0	1.0	1056	$1,800	$1.70	25d	1	0.57mi
3511 Bishop Eddie Newkirk Way Tampa, FL	3.0	1.0	1056	$1,800	$1.70	12d	1	0.57mi
3517 Bishop Eddie Newkirk Way Tampa, FL	3.0	2.0	1200	$2,500	$2.08	25d	1	0.60mi
1807 E 20th Ave Tampa, FL	3.0	2.0	1131	$2,900	$2.56	25d	1	0.61mi
3507 E 29th Ave Tampa, FL	3.0	2.0	928	$1,700	$1.83	25d	1	0.64mi
2909 N 17th St Tampa, FL	2.0	1.0	750	$1,350	$1.80	22d	1	0.68mi
2402 E Doctor Martin Luther King Junior Blvd Tampa, FL	2.0	1.0	710	$1,699	$2.39	25d	1	0.70mi
2312 E 9th Ave Tampa, FL	3.0	2.0	1008	$2,200	$2.18	25d	1	0.73mi
1716 E Columbus Dr Unit A Tampa, FL	2.0	1.0	924	$1,800	$1.95	25d	1	0.74mi
1605 E 29th Ave Tampa, FL	3.0	1.0	870	$1,800	$2.07	21d	1	0.76mi
4204 N 29th St Tampa, FL	3.0	1.0	957	$1,800	$1.88	25d	1	0.77mi
2312 E 8th Ave Tampa, FL	3.0	2.0	1420	$2,500	$1.76	12d	1	0.78mi
3210 N 16th St Tampa, FL	4.0	2.0	1380	$1,995	$1.45	22d	1	0.78mi
3210 N 16th St Tampa, FL	4.0	2.0	1380	$1,875	$1.36	0d	1	0.78mi
3210 N 16th St Tampa, FL	4.0	2.0	1380	$1,875	$1.36	3d	1	0.78mi
3021 Sanchez St Tampa, FL	3.0	1.0	1300	$2,195	$1.69	25d	1	0.80mi

Listing history 11 events

1. 2026-04-28
   status Pending
2. 2026-04-21
   listed $200,000 Active
3. 2021-12-22
   status Pending
4. 2021-12-21
   historical
5. 2021-12-10
   listed $195,000 Active
6. 2004-09-03
   soldstatus $67,000
7. 2004-09-01
   soldstatus $59,900
8. 2004-08-25
   soldstatus $59,900 51-char remark

   Show marketing remark (51 chars)

   3/2 BLOCK HOME SOLD 'AS IS'. DUCT FOR A/C IN PLACE.

9. 2004-07-26
   listed $69,900 51-char remark

   Show marketing remark (51 chars)

   3/2 BLOCK HOME SOLD 'AS IS'. DUCT FOR A/C IN PLACE.

10. 2003-09-02
    listed $103,000
11. 2003-05-21
    soldstatus $90,000

ⓘ 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: $1,912 · $159/mo
• Projected year-2 tax: $1,912 · $159/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 ≥108°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: $24,318
• − Mortgage interest: −$11,203
• − Property taxes: −$1,912
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − Depreciation: −$5,818
• Taxable income: $494
• Est. tax owed @ 24.0%: −$119
• After-tax cash flow: $3,595/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

+122.2% since first listed

11 events — show timeline

• 2026-04-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-21 Listed $200,000 Stellar MLS as Distributed by MLS Grid
• 2021-12-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-12-21 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-12-10 Listed $195,000 Stellar MLS as Distributed by MLS Grid
• 2004-09-03 Sold (Public Records) $67,000 Public Records
• 2004-09-01 Sold (Public Records) $59,900 Public Records
• 2004-08-25 Sold (MLS) $59,900 Stellar MLS as Distributed by MLS Grid
• 2004-07-26 Listed $69,900 Stellar MLS as Distributed by MLS Grid
• 2003-09-02 Listed $103,000 Stellar MLS as Distributed by MLS Grid
• 2003-05-21 Sold (Public Records) $90,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $1,912 · +11.5% YoY. Source: county tax records.