Under contract-accepting backup offers. Financial Summary
• Purchase Price: $1,500,000
• Net Operating Income (NOI): $132,671.65
• Annual Debt Service: $45,508.90
• Cash Flow (Before-Tax): $87,162.75
Investment Metrics
Cap Rate 8.85
This is still strong, especially for multifamily in many markets. Typically, anything above 7–8 is attractive.
Cash-on-Cash Return – Assuming 20 down payment = $300,000:Cash-on-Cash Return=29.05
This is excellent — high CoC returns like this are uncommon in many real estate markets.
Debt Coverage Ratio (DCR)=2.92
Conclusion
At a $1.5M price point, this is a robust investment:
• 8.85 Cap Rate — solid and above average
• 29 Cash-on-Cash Return — very high
• Excellent DCR — well above lending safety thresholds. This deal remains highly favorable, with its excellent location, condition, and long-term growth potential.
• Purchase Price: $1,500,000
• Net Operating Income (NOI): $132,671.65
• Annual Debt Service: $45,508.90
• Cash Flow (Before-Tax): $87,162.75
Investment Metrics
Cap Rate 8.85
This is still strong, especially for multifamily in many markets. Typically, anything above 7–8 is attractive.
Cash-on-Cash Return – Assuming 20 down payment = $300,000:Cash-on-Cash Return=29.05
This is excellent — high CoC returns like this are uncommon in many real estate markets.
Debt Coverage Ratio (DCR)=2.92
Conclusion
At a $1.5M price point, this is a robust investment:
• 8.85 Cap Rate — solid and above average
• 29 Cash-on-Cash Return — very high
• Excellent DCR — well above lending safety thresholds. This deal remains highly favorable, with its excellent location, condition, and long-term growth potential.
Property Details
Price:
$1,500,000
MLS #:
O6293394
Status:
Pending
Beds:
16
Baths:
9
Type:
Multi Family
Subdivision:
YBOR CITY PLAN OF AN ADD
Neighborhood:
33605 – Tampa / Ybor City
City:
TAMPA
Listed Date:
Apr 1, 2025
State:
FL
Finished Sq Ft:
5,448
Total Sq Ft:
5,448
ZIP:
33605
Lot Size:
20,320 sqft / 0.48 acres (approx)
Year Built:
1953
Units:
8
Schools
Elementary School:
Booker T. Washington-HB
Middle School:
Stewart-HB
High School:
Middleton-HB
Interior
Appliances
Dryer, Electric Water Heater, Exhaust Fan, Range, Refrigerator, Washer
Cooling
Mini- Split Unit(s)
Flooring
Engineered Hardwood, Tile
Heating
Electric
Laundry Features
In Kitchen, Inside
Exterior
Construction Materials
Block, Stucco
Exterior Features
Fenced, Private Mailbox
Parking Features
Off Street
Roof
Shingle
Financial
Tax Year
2024
Taxes
$12,530
Map
Community
- Address2004 E 15TH AVENUE TAMPA FL
- SubdivisionYBOR CITY PLAN OF AN ADD
- CityTAMPA
- CountyHillsborough
- Zip Code33605
Similar Listings Nearby
- 1720 W HILLS AVENUE
TAMPA, FL$1,750,000
3.57 miles away
- 307 S NEWPORT AVENUE
TAMPA, FL$1,650,000
2.78 miles away
- 1919 W NORTH A STREET
TAMPA, FL$1,399,000
3.03 miles away
TAMPA, FL$1,350,000
2.21 miles away
- 8413 N HAMNER AVENUE
TAMPA, FL$1,200,000
4.53 miles away
- 2513 W SPRUCE STREET
TAMPA, FL$1,100,000
3.04 miles away
Courtesy of SAND DOLLAR REALTY GROUP INC. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Stellar MLS. Detailed information about real estate listings held by brokerage firms other than CENTURY 21 Carioti include the name of the listing broker. Neither the listing company nor CENTURY 21 Carioti shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. Stellar MLS. All rights reserved. 2004 E 15TH AVENUE
TAMPA, FL
LIGHTBOX-IMAGES