Score
0Tampa, FL
510 E Sparkman Ave
740K
4 beds
3 baths
2,272 sqft
4 bd • 3 ba • 2,272 sf
This analysis was generated on 1/22/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$739,900
Price/Sq.Ft
$326
Year Built
2019
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 510 E Sparkman Ave, Tampa, FL 33602 offers several attractive features:
1. Location: Situated in the desirable Tampa Heights neighborhood, just minutes from downtown Tampa and major attractions like Armature Works, the Riverwalk, and Amalie Arena. This prime location contributes significantly to the property's value and appeal.
2. Recent Construction: Built in 2019, this home is relatively new, which typically means lower maintenance costs and modern building standards.
3. Size and Layout: At 2,272 sqft with 4 bedrooms and 3 bathrooms, this home is spacious and well-suited for families or those needing extra space. The price per square foot of $325.66 is competitive for the area.
4. Modern Upgrades: The home features numerous upgrades including smart home technology, two HVAC units with UV lights and humidity control, a new electrical panel, and an electric vehicle charging station. These upgrades add value and reduce future improvement costs.
5. Energy Efficiency: Features like the UV light air purification system, humidity control, and EV charging station contribute to energy efficiency and may lead to lower utility costs.
6. No HOA: The absence of an HOA means no additional monthly fees and greater freedom for property modifications.
7. Assumable Mortgage: The 4.62% assumable mortgage rate is attractive in the current high-interest-rate environment, potentially saving a buyer thousands in interest over the life of the loan.
8. Minimal Flood Risk: With a flood risk score of 1/10, the property has a significantly lower flood risk compared to many Tampa properties, potentially leading to lower insurance costs.
9. Appreciation Potential: The property has shown strong appreciation, increasing from $404,915 in 2019 to the current list price of $739,900, representing an 82.7% increase in about 5 years.
The Bad
1. Price History Volatility: The property has undergone multiple price changes since July 2024, dropping from $810,000 to $739,900. This suggests potential overpricing initially and could indicate challenges in accurately valuing the property.
2. Days on Market: At 70 days on the market, this property is selling slower than average, which could be a red flag for buyers and may lead to further price negotiations.
3. School Ratings: The nearby public schools (Graham Elementary, Stewart Middle Magnet, and Hillsborough High) all have ratings of 4/10, which may be a concern for families with school-age children.
4. Climate Risks: While flood risk is minimal, the property faces extreme heat risk (10/10) and extreme wind risk (9/10). This could lead to higher cooling costs and potential property damage from storms.
5. Air Quality: The moderate air quality risk (3/10) with 3 bad air days per year may be a concern for individuals with respiratory issues.
6. Property Taxes: Given the significant price increase since 2019, property taxes are likely to increase substantially, which could impact the total cost of ownership.
7. Market Conditions: The Tampa real estate market has been cooling, which could affect future appreciation and make it harder to sell if needed in the short term.
8. Maintenance Costs: While the home is relatively new, the numerous high-tech features and systems may require specialized maintenance, potentially increasing upkeep costs.
9. Neighborhood Transition: Tampa Heights is an area in transition. While this can lead to appreciation, it may also mean ongoing construction and changing neighborhood dynamics.
The Ugly
1. Extreme Climate Risks: The property's extreme heat risk (10/10) and wind risk (9/10) are significant concerns. These could lead to:
- Substantially higher insurance premiums, especially for wind coverage.
- Potential for severe storm damage, with repair costs not fully covered by insurance.
- Extremely high cooling costs during hot months, potentially adding thousands to annual utility bills.
2. Rapid Price Appreciation: The property's value has increased by 82.7% in about 5 years, from $404,915 in 2019 to $739,900 now. This rapid appreciation raises concerns about:
- Potential market bubble in the area.
- Sustainability of the price growth.
- Risk of significant loss if the market corrects.
3. Recent Price Volatility: The property price has fluctuated significantly since July 2024, dropping from $810,000 to $739,900. This suggests:
- Difficulty in accurately valuing the property.
- Potential overpricing and unrealistic seller expectations.
- Risk of further price drops if the property doesn't sell.
4. Total Cost of Ownership: When factoring in the mortgage, property taxes, insurance, and maintenance, the monthly costs could be prohibitively high:
- Assuming 20% down, a 30-year mortgage at 4.62% would be about $3,040/month.
- Property taxes could be around $1,000/month based on the current value.
- Insurance, given the wind risk, could easily exceed $3,000/year or $250/month.
- Maintenance on a property this size with numerous systems could average $500/month.
- Total monthly cost could exceed $4,790, requiring an income of over $190,000 annually to comfortably afford.
5. Future Maintenance Costs: While currently new, as the home ages and warranties expire, maintenance costs for the numerous high-tech systems could be substantial:
- Smart home technology may require frequent updates or replacements.
- Dual HVAC systems with specialized features will be costly to maintain and replace.
- EV charging station may need upgrades as technology advances.
6. Market Timing: Buying at what could be the peak of a local market bubble presents significant financial risk:
- Potential for negative equity if the market corrects.
- Difficulty refinancing or selling in the near future if values decline.
7. School Quality: The low ratings of nearby schools (all 4/10) could significantly impact long-term property value and make it difficult to attract family buyers in the future.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. High-Income Professionals: With a potential total monthly cost exceeding $4,790, this home is ideal for individuals or couples with a combined annual income of $190,000+.
2. Tech-Savvy Buyers: The smart home features and modern upgrades will appeal to those who value cutting-edge technology in their living space.
3. Urban Lifestyle Enthusiasts: The proximity to downtown Tampa and major attractions makes it perfect for those who enjoy city living and easy access to entertainment and dining options.
4. Electric Vehicle Owners: The built-in EV charging station adds significant value for current or prospective electric vehicle owners.
5. Energy-Conscious Buyers: The home's energy-efficient features will appeal to those looking to minimize their environmental impact and potentially save on utility costs.
6. Buyers Seeking Newer Construction: Built in 2019, this home offers the benefits of modern construction standards and fewer immediate maintenance concerns.
7. Those Planning to Stay Long-Term: Given the current market conditions and price point, this property is best for those planning to live in the home for at least 5-7 years to weather any potential market fluctuations.
8. Buyers with Substantial Down Payment: A larger down payment could help offset the high monthly costs and provide a buffer against potential market corrections.
9. Climate-Resilient Buyers: While there are climate risks, the home's modern construction and features like hurricane shutters may appeal to those prepared for Tampa's climate challenges.
Not For
This property is not suitable for:
1. First-Time Homebuyers: The high price point and potential for significant monthly costs make this challenging for most first-time buyers.
2. Budget-Conscious Buyers: With a price tag of $739,900 and high potential monthly costs, this home is out of reach for those on tight budgets.
3. Families Prioritizing School Districts: The low ratings of nearby public schools (all 4/10) make this less ideal for families with school-age children who can't afford private education.
4. Short-Term Residents: Given the high transaction costs and current market conditions, this isn't suitable for those planning to move within the next 5 years.
5. Risk-Averse Investors: The recent rapid appreciation and current market conditions present significant risk for those seeking a safe investment property.
6. Buyers Sensitive to Climate Risks: The extreme heat and wind risks may be concerning for those worried about climate change impacts or high insurance costs.
7. Low-to-Moderate Income Households: The potential monthly costs require a high income, making it unaffordable for many middle-class families.
8. Those Needing Immediate Equity: With the recent price appreciation, there's limited room for immediate equity growth, making it less suitable for buyers needing to build equity quickly.
9. Buyers Without Cash Reserves: The potential for high maintenance costs on the numerous systems and features requires significant cash reserves for upkeep.
10. Traditional or Low-Tech Buyers: The abundance of smart home features may be overwhelming or unnecessary for those who prefer simpler, low-tech living environments.
Demographics
Area Median Income
$82,755
Property History
Price History
Ownership Timeline
$540,000Financed
Dec 31, 2020Fernando R Camilo, Socrate NavotasCharles Azizi
Warranty Deed
Standard Sale (Purchase/Resales)
$447,835Financed
Dec 27, 2019Domain Homes Inc, Georgia CorporationSocrates D Navotas, Fernando R Camilo
Special Warranty Deed
New Construction Residential Transactions
$404,915Financed
Dec 6, 2019Domain Homes Inc, Georgia CorporationMark A Brokaw
Special Warranty Deed
New Construction Residential Transactions
$125,000Cash Purchase
Apr 12, 2019Ch Capital Inc, Titan Acquisitions LlcDomain Homes Inc
Special Warranty Deed
Non-Residential Arm's Length Transactions
$85,100Cash Purchase
Aug 30, 2018County Of HillsboroughCh Capital Inc, Acquisitions Llc
Public Action
Foreclosure
Property Taxes
$105
2023 Tax Assessment
0.0%from previous year
Assessed Value$462,821
Tax Rate0.02%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
Data provided by Shadowmap
Loading sunlight data...
Schools
Nearby school quality by education level
Elementary
4.0/10
AverageMiddle
4.0/10
AverageHigh
4.0/10
AverageFinancials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$1,940
Unlock Premium Features
Supercharge Your Property Analysis
Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.
Best for serious buyers
- Unlimited AI analysis
- Unlimited AI chat
- Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee
Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$739,900
Price/sqft
$326
Layout
4 bd•3 ba
Days on market
69 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$785,830
5.8%
Your price is 5.8% below average
Median Price
$800,000
7.5%
Based on 6 recent sales
Price per Sq.Ft
$352
7.5%
Your price is 7.5% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 507 W EUCLID AVENUE #2, TAMPA, FL 33609 | $699,990 | 2,134 | 3 | 3 | $3280.7% | 11/1/2024 |
| 417 FRANCES, TAMPA, FL 33602 | $1,275,000 | 2,501 | 3 | 3 | $51056.5% | 10/4/2024 |
| 507 W EUCLID AVENUE #1, TAMPA, FL 33602 | $699,990 | 2,154 | 3 | 3 | $3250.2% | 9/13/2024 |
| 102 W ADALEE STREET #1, TAMPA, FL 33603 | $800,000 | 2,144 | 3 | 3 | $37314.6% | 8/13/2024 |
| 1209 E 28TH AVENUE, TAMPA, FL 33605 | $340,000 | 2,029 | 4 | 3 | $16848.5% | 8/9/2024 |
| 2702 N WOODROW AVENUE #1, TAMPA, FL 33602 | $900,000 | 2,200 | 3 | 4 | $40925.6% | 10/19/2024 |
507 W EUCLID AVENUE #2, TAMPA, FL 33609
Price: $699,990
Sq.Ft: 2,134
Beds/Baths: 3/3
$/Sq.Ft:
$3280.7%
Sale Date: 11/1/2024
417 FRANCES, TAMPA, FL 33602
Price: $1,275,000
Sq.Ft: 2,501
Beds/Baths: 3/3
$/Sq.Ft:
$51056.5%
Sale Date: 10/4/2024
507 W EUCLID AVENUE #1, TAMPA, FL 33602
Price: $699,990
Sq.Ft: 2,154
Beds/Baths: 3/3
$/Sq.Ft:
$3250.2%
Sale Date: 9/13/2024
102 W ADALEE STREET #1, TAMPA, FL 33603
Price: $800,000
Sq.Ft: 2,144
Beds/Baths: 3/3
$/Sq.Ft:
$37314.6%
Sale Date: 8/13/2024
1209 E 28TH AVENUE, TAMPA, FL 33605
Price: $340,000
Sq.Ft: 2,029
Beds/Baths: 4/3
$/Sq.Ft:
$16848.5%
Sale Date: 8/9/2024
2702 N WOODROW AVENUE #1, TAMPA, FL 33602
Price: $900,000
Sq.Ft: 2,200
Beds/Baths: 3/4
$/Sq.Ft:
$40925.6%
Sale Date: 10/19/2024
Frequently Asked Questions
Property Discussion
Start the Conversation
Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.
You
Analyze Any Property for Free
Get instant insights and potential savings on any Zillow listing.
Free Analysis
AI-Powered Insights
Instant Results
