Tampa Full-Rehab 3/2 Conversion Opportunity

  • $139,900
E 38th Ave, Tampa, FL 33610, USA
  • Single Family
  • Property Type
  • 2 (3)
  • Bedrooms
  • 1 (2)
  • Bathroom
  • 1,128
  • Full
  • Estimated Rehab Cost
  • $285,000 to $320,000 +/-
  • Estimated ARV
  • Hillsborough
  • County

Overview

  • Single Family
  • Property Type
  • 2 (3)
  • Bedrooms
  • 1 (2)
  • Bathroom
  • 1,128
  • Full
  • Estimated Rehab Cost
  • $285,000 to $320,000 +/-
  • Estimated ARV
  • Hillsborough
  • County

Description

This 1963 single-family home currently has 2 bedrooms, 1 bath, and 1,128 SF of living area on a 5,100-square-foot lot in Flood Zone X. The interior is opened up for a full renovation, with new plywood subflooring already installed throughout. An issued renovation permit covers interior reconfiguration within the existing roofline, a second bathroom, laundry area, open living and kitchen space, new HVAC, a plumbing repipe, electrical work, and meter work. A roof permit is also on record, and the property having a 2026 shingle roof. The finished-value analysis assumes a completed 3-bedroom, 2-bath layout.

Estimated Repairs Needed

  • Remaining ceiling, wall, framing, and interior finish reconstruction
  • Kitchen cabinetry, countertops, appliances, lighting, and finish buildout
  • Existing-bathroom renovation and permitted second-bathroom completion
  • Proposed third-bedroom layout, walls, door, closet, and code-compliant egress
  • HVAC installation and completion under the issued renovation permit
  • Plumbing repipe, water-heater, fixture, drain, and finish work
  • Electrical panel, meter, wiring, outlets, switches, and lighting completion
  • Interior doors, trim, baseboards, paint, and finished flooring
  • Window, exterior-door, siding, porch, and weather-sealing repairs
  • Exterior paint, debris removal, landscaping, and site cleanup
  • Final trade inspections and permit closeout

Comparable Sales

  1. 2614 E Cayuga St is 0.202 miles away and sold for $269,900 in September 2026. This fully updated 3/2 has 1,248 square feet, a 5,150-square-foot lot, no pool, and no garage or carport. Its similar lot, age, configuration, and close location make it relevant lower-value evidence, while its renovation was primarily an interior finish update rather than the extensive systems-level reconstruction planned here.
  2. 3203 E Emma St is 0.419 miles away and sold for $285,000 in October 2026. This fully remodeled 3/2 has 1,106 square feet, a 4,800-square-foot lot, no pool, and no garage or carport. Its nearly identical size, renovated condition, new roof, impact openings, updated electrical, and new plumbing make it the strongest direct lower ARV anchor.
  3. 4012 N 29th St is 0.204 miles away and sold for $320,000 in May 2026. This maintained 3/2 has 1,329 square feet, a 4,750-square-foot lot, no pool, and a 1-car garage. It is included as a condition-adjusted upper bracket because its larger living area, newer 2007 construction, and garage make it superior to the proposed finished subject.
  4. 2623 E 38th Ave is 0.029 miles away and sold for $330,000 in August 2026. This remodeled 4/2 has 1,392 square feet, a 5,000-square-foot lot, no pool, and no garage or carport. Its exact-street location and matching lot are highly relevant, while the fourth bedroom, additional living area, owned solar, and updated major systems make it superior ceiling evidence.
  5. 1706 E Chelsea St is 0.614 miles away and sold for $330,000 in May 2026. This maintained 3/2 has 1,139 square feet, a 6,098-square-foot lot, no pool, and a 1-car garage. It is included as condition-adjusted context because its size is an excellent match, while its newer 1993 construction and garage make it superior to the subject.

ARV & Rental Analysis

Estimated ARV: $285,000 to $320,000 +/-

Estimated Rent: $2,100 to $2,300 per month +/-

Details

  • Price: $139,900
  • Property Size (Sq. ft.): 1,128
  • Land Area (Acres): 0.11
  • Bedrooms: 2 (3)
  • Bathroom: 1 (2)
  • Garage: None
  • Year Built: 1963
  • Property Type: Single Family
  • Property Status: Flip
  • County: Hillsborough
  • Estimated ARV: $285,000 to $320,000 +/-
  • Estimated Rehab Cost: Full
  • Estimated Monthly Rent: Estimated Rent: $2,100 to $2,300 per month +/-
  • Yearly Taxes: $2,188
  • HOA Monthly Cost: $0
  • Construction Type: Frame
  • Pool: None
  • City Tampa
  • State Florida

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