1945 Built Frame 2/1 in Tampa (1,460 SqFt – Value-Add to 3/2)

This 2-bedroom, 1-bathroom single-family home is located in Tampa (33619). Built in 1945 with wood frame construction, the property has 1,460 sq. ft. of living area and sits on a 5,000 sq. ft. lot. Offered at an asking price of $217,000, the house requires a full cosmetic rehab. The property has a large footprint that presents a direct value-add opportunity to reconfigure the layout into a 3-bedroom, 2-bathroom floorplan. The roof was repaired in 2022.

Repairs Needed (estimate)

• Cosmetic Update: Full interior modernization required, including new flooring, drywall repair, paint, and fixtures to reach max retail value.
• Kitchen & Bath: Complete gut and update of the kitchen and existing bathroom.
• Layout: Frame an additional bedroom and a 2nd bathroom within the existing 1,460 sq. ft. footprint to maximize ARV and appeal to retail buyers.
• Systems Check: Full inspection required for HVAC, plumbing, and electrical systems typical of a 1945 build. Roof repaired in 2022; verify current condition.
• Exterior: Pressure washing and landscaping clean-up.

🟣 Comparable Sales

1. 5603 Hughes Ct – 3/2 | 1,520 sf | Sold $405,000 ($266/sf) on 02/27/2026 | 1974 Built | Condition: Updated/Modernized
2. 736 S 58th St – 3/2 | 1,374 sf | Sold $365,000 ($266/sf) on 02/13/2026 | 1972 Built | Condition: Fully updated (impact windows, quartz kitchen)
3. 504 Maydell Dr – 3/2 | 1,197 sf | Sold $340,000 ($284/sf) on 09/26/2025 | 1989 Built | Condition: Remodeled (granite counters, new floors)
4. 706 S 56th St – 3/1 | 1,056 sf | Sold $299,000 ($283/sf) on 10/03/2025 | 1980 Built | Condition: Totally renovated (baseline for 1-bath layout)

💰 ARV & Rental Analysis

The market ceiling in this pocket is highly dependent on bedroom and bathroom counts. The sale of 706 S 56th St establishes a ceiling in the upper $200s for updated homes with a 1-bathroom layout. Executing the value-add strategy to convert the subject property into a 3/2 significantly increases the exit valuation. The best comparable for a converted layout is 736 S 58th St, a 3/2 with 1,374 sq. ft. that sold for $365,000 ($266/sf). The sale of 5603 Hughes Ct for $405,000 ($266/sf) supports further upside given the subject property’s large 1,460 sq. ft. footprint.

Estimated ARV (As 2/1): $280,000 – $300,000 +/-

Estimated ARV (As 3/2): $335,000 – $350,000 +/-

Projected Rent (As 2/1): $1,600 – $1,800/mo +/-

Projected Rent (As 3/2): $2,100 – $2,300/mo +/-