Cayuga Drive is located in one of the most beautiful areas we in have found since we started purchasing in the Northern Tampa suburbs a couple of years ago. Those of you who have traveled to Tampa to meet us will remember this area. We have purchased six properties here between Jan-Jun 2016 and they have been renting like a dream.
Another reason we like this area is because the city of Tampa is butting up against older neighborhoods like this one. The fault line between the $350,000 new build developments that have been spreading northwards is right at the front of the Magnolia Valley sub division where this property is located. Specifically, new build houses are springing up all over the area where Massachusetts Ave meets De Cubellis Rd and Sharkey Blvd.
Smart investors are buying everything they can in order to be close to the new communities the upper wealthy middle class families are moving to. Why? Because they bring new infrastructure, hospitals, government buildings, schools and parks in their wake. The Magnolia sub division where we have been focusing is one of the few areas in this zone where good value 3 bed 2 bath 2 garage homes can still be found.
About the property
This home is really lovely and is surrounded by owner occupiers who take meticulous care of their lawns and homes. If you view our image gallery below you´ll see how nice the mature trees, manicured lawns and perfectly clean streets are. It isn´t all that easy to find neighborhoods like this. It is a tight knit community and it is presented very well.
The home itself is a natural 3 bed 2 bath (as opposed to a converted 2 bed 2 bath) and has the HUGE bonus of an attached 2 car garage (they´re very rare in this price point). These are the properties every estate agent wants to get their hands on as they are easy to sell and easy to rent. As mentioned above, this is a completely off market property and our clients are getting first refusal on it.
We have done a total remodel of this home which includes:
– Paint exterior
– Paint interior
– New floors throughout
– Reconfiguring the kitchen layout
– New granite kitchen counterstops
– New dishwasher & appliances
– Crown molding and lights
– New interior doors throughout
The roof and a/c are in very good condition and have been professionally inspected (report available on request).
Market Comps (all within 0.25 miles and sold in last 180 days)
A 3 bed 2 bath on same street with much older interiors sold for $100,000 in March this year
A slight smaller 3 bed 2 bath sold late last year (prices have risen since then) for $107,000
A spacious 2 bed 2 bath sold for $114,900 last January