4/1 Tampa Flip or Cash Flow

This 4-bedroom, 1-bathroom single-family home is located in Tampa (33612), situated in the pocket between I-275 and US-41 (Nebraska Ave). Built in 1954 with frame/stucco construction, the property has 1,104 sq. ft. of living area and sits on a 0.11-acre lot. Offered at $169,000, the house requires a full cosmetic rehab and a thorough systems evaluation.

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: Evaluate the 1,104 sq. ft. footprint for the addition of a 2nd bathroom (converting to a 4/2 or 3/2) to force appreciation and break the $300k ARV threshold.
• Systems Check: Full inspection required for roof, HVAC, plumbing, and electrical panels typical of 1950s frame construction; budget for heavy capex/replacement based on deferred maintenance.
• Exterior: Pressure washing, stucco patching, and landscaping clean-up.

🟣 Comparable Sales

1. 8910 N 12th St – 3/1 | 1,050 sf | Sold $275,000 ($261/sf) on 11/15/2025 | 1955 Built | Condition: Fully updated (Direct bath comp, same neighborhood boundaries)
2. 9315 N 9th St – 3/2 | 1,120 sf | Sold $315,000 ($281/sf) on 01/20/2026 | 1958 Built | Condition: Fully renovated (Requires downward adjustment if subject remains a 1-bath; establishes 2-bath potential)
3. 9005 N Brooks St – 4/2 | 1,215 sf | Sold $335,000 ($275/sf) on 10/05/2025 | 1950 Built | Condition: Fully renovated (Ceiling comp for 4/2 layout on the same street)
4. 8714 N 13th St – 3/1 | 1,012 sf | Sold $265,000 ($261/sf) on 08/22/2025 | 1954 Built | Condition: Updated

💰 ARV & Rental Analysis

The local market in this specific geographic pocket (keeping west of US-41/Nebraska Ave) is highly sensitive to bath counts. The baseline for renovated 1-bathroom homes is firmly established between $265,000 and $275,000, as seen on N 12th St and N 13th St. Adding a second bathroom significantly increases the market ceiling, with renovated 2-bathroom homes like N 9th St and N Brooks St trading between $315,000 and $335,000. Reconfiguring the existing 1,104 sq. ft. layout into a 3/2 or 4/2 is strongly recommended to achieve maximum exit value and appeal to retail buyers. If kept as a 4/1, the ARV is capped in the upper $200s.

Estimated ARV: $280,000 – $299,000 +/- (As-is 4/1 layout)

Estimated ARV: $315,000 – $325,000 +/- (If converted to a 2-bath)

Projected Rent: $1,750 – $1,950/mo +/-