3308 E Chelsea St, Tampa, FL 33610

Affordable Opportunity in East Tampa! Charming 2-Bedroom Home with Potential!

Discover this delightful 2-bedroom, 1-bathroom single-family home located at 3308 E Chelsea St in the rapidly evolving East Tampa, FL 33610 zip code. Built in 1972, this residence offers a comfortable 1,104 sqft of living space on a 4,800 sqft (0.11 acre) lot, presenting an excellent opportunity for first-time homebuyers, downsizers, or savvy investors seeking an affordable entry point into the dynamic Tampa market.

This property offers a practical layout with good bones, providing a fantastic canvas for personalization and updates. With its attractive price point and potential for long-term appreciation in a revitalizing area, it’s a compelling choice for those looking to build equity. It features central cooling for year-round comfort.

Property Highlights:

• 2 Bedrooms / 1 Bathroom: A functional layout ideal for comfortable living.
• 1,104 sqft: Efficiently designed interior space.
• Built in 1972: A solid, established home with the character of its era, ready for modern touches.
• 4,800 sqft Lot: A good-sized lot offering private outdoor space for enjoyment or potential enhancements.
• Estimated Refinance Payment: $1,067/mo: Highlighting remarkable potential financing accessibility for this price.
• Priced at $189,990: This is an exceptionally competitive price, positioning the property significantly below the median values for 2-bedroom homes in Tampa and within the 33610 zip code.

Tampa (33610) Market Insights (as of May 2025 data):

The 33610 zip code in Tampa, specifically within the East Tampa neighborhood, is currently a Balanced Market. This means that the supply and demand for homes are relatively equal, offering a more stable environment for both buyers and sellers.

• Median Sold Price (2-Bedroom Homes in East Tampa): The median sold price for 2-bedroom homes in East Tampa was $222,000 in May 2025, showing a slight increase of 1.2% year-over-year. This property’s price of $189,990 is notably below this median, offering strong value and potential for immediate equity. For Tampa overall, the median 2-bedroom home price was $280,700.
• Median Sold Price (33610 Overall): The median sold price for all homes in 33610 was $296,000 (Rocket Homes for East Tampa) or $317,500 (Realtor.com for 33610 overall) in May 2025. This home’s price is significantly below these overall median values, underscoring its affordability.
• Days on Market: Homes in East Tampa are selling after an average of 61 days on the market in May 2025. This provides buyers with sufficient time for due diligence and decision-making.
• Negotiation Potential: While specific negotiation data for 33610 indicates homes sell for about 0.994 of list price (Zillow for April 2025), in East Tampa, properties sold for an average of 1.63% below asking price in May 2025. This suggests buyers may have some room for negotiation.
• Inventory: There are 148 homes for sale in 33610, providing a good selection for buyers.

Location & Lifestyle:

3308 E Chelsea St is situated in a convenient East Tampa location, offering:

• Proximity to Amenities: Located near Hillsborough Ave/MLK Jr Blvd, providing easy access to restaurants, banks, and stores.
• Community and Recreation: Close to local parks and amenities.
• Accessibility: Convenient access to major roadways for commuting throughout the greater Tampa Bay area.
• No HOA or CDD fees: Enjoy the freedom and lower costs of homeownership without these additional fees.

Important Considerations for Buyers in Tampa, FL:

• Property Taxes: For a home in this price range in Tampa, annual property taxes can be estimated. Public records indicate a 2024 assessment year for this property, with 2016 taxes around $740. However, current taxes based on the new purchase price will be significantly higher. For a $189,990 home, estimated annual property taxes could be in the range of $2,500 – $3,500+, depending on specific exemptions (like homestead) and the updated assessed value.
• Home Insurance: Florida homeowners insurance premiums are higher than the national average due to hurricane and flood risks. For a home in Tampa, average annual premiums could range from $2,700 to $5,337. Given the home’s age (1972), buyers should obtain specific insurance quotes.
• Flood Risk: While not explicitly stated as a high-risk flood zone for this specific address in all search results, Tampa and Hillsborough County have high-risk flood zones. Buyers should consult official FEMA flood maps for 3308 E Chelsea St and seriously consider obtaining flood insurance, as standard homeowners’ insurance does not cover flood damage.

This property at 3308 E Chelsea St offers an exceptional opportunity to acquire an affordable single-family home in a transitioning Tampa neighborhood. Its attractive price point, coupled with the current balanced market conditions and strategic location, makes it a compelling choice for a primary residence or a promising investment property.

Don’t miss this incredible value in East Tampa! Contact us today to schedule a private showing and explore your financing options.