How to BRRRR in Tampa, FL

Start with the gross math. Tampa's typical home value is $376,530; ZORI (Zillow's rent index) sits at $1,951/mo. That's 6.22% gross annual yield. That's well above the national 4-5% baseline — meaningful cushion for a BRRRR to pencil even at today's debt cost.

Run the DSCR sanity check. Assume 75% LTV refi at 7.5% interest, 30-year, plus taxes + insurance + 8% PM + 8% vacancy/capex reserve. On these inputs you'll likely clear DSCR 1.10-1.20 in Tampa — tight but bankable. Don't fall in love with marginal deals; reject anything that doesn't pencil at 1.15 minimum.

Rent demand color: Tampa rents ($1,951) are within 10% of the national median. Rent isn't the constraint or the catalyst — focus on getting acquisition + rehab in tight enough that the math works on standard local rents.

Refi appraisal risk: Tampa home values are down 3.1% YoY. That's the biggest threat to your refi — if you're underwriting today and refinancing in 8 months, comps may have softened further. Stress-test your refi ARV at -5% of today's median.