111 W Powhatan Ave · Tampa, FL 33604

$203,000

2 bd · 1.0 ba · 1,328 sqft · SingleFamily public records · 22 Days on market

Built 1926 8,308 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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks in the heart of Seminole Heights! Located in the desirable West Suwanee Heights area, this historic Craftsman bungalow is ready for a complete transformation. The home features spacious bedrooms, a wood-burning fireplace, attached carport, and loads of original character waiting to be restored. The detached ADU is currently in poor condition and may be best suited for redevelopment or replacement. Situated on a generous 62' x 134' lot with rear alley access, this property presents a unique opportunity for investors, builders, or ambitious renovators. The SH-RS zoning district permits Accessory Dwelling Units (ADUs), offering exciting possibilities for future income potent

Key facts

• Detached adu
• 62 x 134 lot
• Rear alley access

Tags

• HISTORIC CRAFTSMAN BUNGALOW
• WOOD BURNING FIREPLACE
• DETACHED ADU
• 62 X 134 LOT
• REAR ALLEY ACCESS
• SH RS ZONING DISTRICT

Property features AI

Finance

• Other: Zoning: SH-RS
• HOA & community: No association indicated; Pets allowed

Exterior

• Parking: Has carport (1 space)
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected; Water connected
• Home design: Single-family residence; One story; Faces south
• Construction: Wood siding construction; Shingle roof; Crawlspace foundation; Built area approximately 1,619 sq ft (living area 1,328 sq ft)
• Exterior features: Level lot; No patio or porch listed; Bamboo vegetation; Asphalt road frontage

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Eat-in kitchen; Living room fireplace
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $203k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $203k).
• Recommended offer: $200k (1.5% 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 flat; 371 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 45% of the median local income ($59k/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 22 days — a 2% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $77k; list at $203k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,955 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — 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: 1.09% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.07%
• DSCR: 1.45
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-7,930
• Equity at exit: $30,268

10-year hold

• IRR: 3.0%
• Equity multiple: 1.19×
• Total profit: $11,055
• Equity at exit: $17,552

Cash invested: $56,840 (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 33604

• Home prices YoY: -31.3%
• Rents YoY: 0.5%
• Active inventory: 371
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,203 high
• Mortgage (P&I): −$1,065
• Tax from tax record: −$114 /mo · $1,373/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $477

Break-even live

Break-even rent $1,599

Max offer price $203,000

Occupancy floor 73%

Sensitivity live

Price	-10% $592	-5% $534	+0% $477	+5% $420	+10% $362
Rent	-10% $303	-5% $390	+0% $477	+5% $564	+10% $651
Rate	-1.0pp $579	-0.5pp $529	base $477	+0.5pp $424	+1.0pp $371

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: $50,750
• Closing costs: $6,090
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5706 N Suwanee Ave Unit 1271940P Tampa, FL	2.0	1.0	914	$2,739	$3.00	0d	1	0.15mi
103 E Mohawk Ave Unit B Tampa, FL	1.0	1.0	980	$1,300	$1.33	4d	1	0.19mi
503 W Idlewild Ave Tampa, FL	2.0	2.0	968	$2,200	$2.27	17d	1	0.31mi
303 E Paris St Tampa, FL	2.0	2.0	1442	$2,200	$1.53	25d	1	0.33mi
203 W Crest Ave Tampa, FL	2.0	1.0	900	$2,100	$2.33	25d	1	0.34mi
203 W Haya St Tampa, FL	2.0	1.0	990	$1,950	$1.97	6d	1	0.40mi
5305 N Boulevard Tampa, FL	1.0–2.0	1.0–2.5	970	$2,100	$2.16	4d	4	0.41mi
5205 N Boulevard Tampa, FL	1.0–3.0	1.0–2.0	1175	$1,854	$1.58	4d	17	0.47mi
325 W Jean St Tampa, FL	3.0	2.0	1200	$2,500	$2.08	25d	1	0.52mi
6506 N Wellington Ave Unit B Tampa, FL	1.0	1.0	900	$1,200	$1.33	25d	1	0.60mi
113 W Knollwood St Tampa, FL	3.0	2.0	1556	$1,850	$1.19	23d	1	0.63mi
309 W Osborne Ave Tampa, FL	3.0	1.5	1462	$3,300	$2.26	25d	1	0.70mi
113 W Elm St Tampa, FL	3.0	2.0	1473	$3,400	$2.31	19d	1	0.77mi
809 W Hiawatha St Tampa, FL	3.0	2.0	1345	$2,600	$1.93	21d	1	0.80mi
5611 N McKay Ave Tampa, FL	2.0	1.0	912	$1,795	$1.97	23d	1	0.82mi
5611 N McKay Ave Tampa, FL	2.0	1.0	912	$1,795	$1.97	25d	1	0.82mi
1209 E Comanche Ave Tampa, FL	2.0	2.0	1659	$2,500	$1.51	6d	1	0.85mi
4513 N Florida Ave Tampa, FL	2.0	1.0	887	$2,299	$2.59	2d	6	0.85mi
6905 N Duncan Ave Unit A Tampa, FL	2.0	2.0	1214	$1,850	$1.52	25d	1	0.85mi
6906 N Lynn Ave Tampa, FL	3.0	2.0	1772	$2,695	$1.52	25d	1	0.85mi
1212 E Mohawk Ave Tampa, FL	3.0	1.0	1266	$1,995	$1.58	21d	1	0.88mi
6416 N Orleans Ave Tampa, FL	2.0	1.0	1008	$2,300	$2.28	16d	1	0.89mi
203 W Emma St Tampa, FL	3.0	2.0	1279	$2,700	$2.11	25d	1	0.89mi
203 W Emma St Tampa, FL	3.0	2.0	1279	$2,500	$1.95	12d	1	0.89mi
7006 N Duncan Ave Unit A Tampa, FL	2.0	2.0	1000	$2,300	$2.30	0d	1	0.90mi
914 W Cimmeron Dr Tampa, FL	2.0	2.0	1763	$4,250	$2.41	25d	1	0.95mi
6915 N Central Ave Tampa, FL	3.0	2.0	1854	$3,295	$1.78	4d	1	0.96mi
7201 N Highland Ave Tampa, FL	2.0	1.0	1400	$2,350	$1.68	25d	1	0.96mi
411 W Flora St Tampa, FL	2.0	1.0	1400	$2,750	$1.96	23d	1	0.97mi
902 E Curtis St Unit 1 Tampa, FL	2.0	2.0	1325	$3,200	$2.42	19d	1	0.98mi
4412 N Clearfield Ave Tampa, FL	3.0	2.0	1336	$2,250	$1.68	25d	1	0.98mi
1202 E Caracas St Tampa, FL	3.0	3.0	1224	$2,595	$2.12	25d	1	0.99mi
5500 N Rome Ave Unit 29 Tampa, FL	1.0	1.0	1864	$1,500	$0.80	25d	1	0.99mi
4901 W Bartlett Dr Tampa, FL	3.0	2.0	1800	$3,200	$1.78	25d	1	1.01mi
900 E Sligh Ave Tampa, FL	2.0	1.0–2.0	888	$2,630	$2.96	0d	35	1.05mi
7218 N Highland Ave Tampa, FL	3.0	2.0	1448	$2,950	$2.04	6d	1	1.05mi
406 W Alva St Tampa, FL	2.0	1.0	936	$2,500	$2.67	25d	1	1.07mi
314 W Alva St Tampa, FL	3.0	2.0	1170	$3,000	$2.56	25d	1	1.07mi
212 W North Bay St Tampa, FL	3.0	1.0	1065	$2,600	$2.44	4d	1	1.12mi
7309 N Dartmouth Ave Tampa, FL	3.0	2.0	1248	$2,041	$1.64	0d	1	1.12mi

Listing history 16 events

1. 2026-06-21
   days on market $203,000 Active 22 DOM
2. 2026-06-18
   days on market $203,000 Active 19 DOM
3. 2026-06-17
   days on market $203,000 Active 18 DOM
4. 2026-06-16
   days on market $203,000 Active 17 DOM
5. 2026-06-15
   days on market $203,000 Active 16 DOM
6. 2026-06-13
   days on market $203,000 Active 14 DOM
7. 2026-06-13
   days on market $203,000 Active 13 DOM
8. 2026-06-09
   days on market $203,000 Active 10 DOM
9. 2026-06-08
   days on market $203,000 Active 9 DOM
10. 2026-06-07
    days on market $203,000 Active 8 DOM
11. 2026-06-04
    days on market $203,000 Active 5 DOM
12. 2026-06-03
    days on market $203,000 Active 4 DOM
13. 2026-06-02
    days on market $203,000 Active 3 DOM
14. 2026-06-01
    days on market $203,000 Active 2 DOM
15. 2026-05-31
    remarks 699-char remark
16. 2026-05-31
    listed $203,000 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: $1,373 · $114/mo
• Projected year-2 tax: $1,685 · $140/mo
• Expected delta: +$312/yr (+$26/mo · 22.7%)

ⓘ 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 6 d/yr ≥108°F today · 20 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: $26,439
• − Mortgage interest: −$11,371
• − Property taxes: −$1,373
• − Insurance: −$1,015
• − Repairs & maintenance: −$2,115
• − Management: −$2,115
• − Depreciation: −$5,905
• Taxable income: $2,544
• Est. tax owed @ 24.0%: −$611
• After-tax cash flow: $5,114/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): 40,055
• Household income: $58,766
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 2581.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 38% White 35% Two or more races 22% Black 21% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Cuban 13% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 18% · Canada, Vietnam, Jamaica
• Languages at home: 66% English-only · Spanish 30% Vietnamese 1% French/Haitian/Cajun 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: ▼ -200.24%
• Current HPI: 439.7084
• Rent YoY: ▲ 0.52%
• 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

+222.2% since first listed

3 events — show timeline

• 2026-05-30 Listed $203,000 Stellar MLS as Distributed by MLS Grid
• 1995-11-14 Sold (Public Records) $77,000 Public Records
• 1988-10-01 Sold (Public Records) $63,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,373 · +8.2% YoY. Source: county tax records.