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1005 N Wills St Plant City, FL 33563

3 Beds 2 Baths 1,630 sqft Built 2019

$284,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $174.79
  • 3 Days on Market
  • MLS # : T3273429
  • Updated Date : 11/06/2020 at 11:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,630 sqft
  • Baths : 2 full
Listing Agent

Griffin Executive Realty

Listing Agent's Description

MOVE-IN READY 3/2 Block home built in 2019! This newer home has beautiful wood-like Ceramic Tile Flooring, Wood Cabinetry, Granite Countertops, Stainless Steel Appliances, Crown Molding, Oil-Rubbed Bronze Fixtures, 9ft ceilings, 4 ½ base moldings, and a Sprinkler System. This home also offers an Open Floor-plan, Split Bedrooms, Large Walk-In Closets, Large Bedrooms and Kitchen, Inside Utilities, and a 2-Car Garage. Enjoy your view sitting on the rear covered lanai looking at your beautiful fenced-in backyard. Save on utilities when you buy this energy-efficient home and don’t worry about replacing your big-ticket items anytime soon! The 30-year Architectural Roof, A/C, Water-Heater, and Double-Pain Windows are all only ONE year old! This property is located in the heart of Plant City, near various restaurants, shopping, and the historic downtown Plant City. Easy access to Tampa/Orlando with being only minutes from the I-4 ramp. The property is not located in an HOA, there are no deed restrictions, and is not located in a flood zone. Come stop by, this home won’t last long!

SEE MORE

MARKET HIGHLIGHTS

  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)
  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)

PRICE & RENT TRENDS

Neighborhood: Improvement League of Plant City

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $72k238k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Improvement League of Plant City

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7451590

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Jackson Elementary School Primary Regular 528 44 2
Marshall Middle School Middle Regular 846 57 2
Plant City High School High Regular 2,219 122 5

Jackson Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 44
2
GreatSchools Rating

Marshall Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 57
2
GreatSchools Rating

Plant City High School

  • Education Level: High
  • # of students: 2,219
  • # of teachers: 122
5
GreatSchools Rating
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,051
Property Tax -$305
Property Insurance -$131
Property Management Fees -$80
CASH FLOW
$73

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$284,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 3.00%
Vacancy 5.27%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,499

INVESTMENT

$77,499

Down Payment
$71,225
Rehab Estimate
$2,000
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$35,195

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,640

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,646

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,5504$1,6405$1,647
$1,647
RENT COMPS ANALYSIS
  • 1005 N Wills St Plant City, FL 4
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.01
    •  
  • 1603 N Gordon St Plant City, FL 1
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2006
    LEASED 07/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 118 Orange Bud Way Plant City, FL 2
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 2004
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
  • 910 N Wills St Plant City, FL 3
    • 4 beds 2 baths ∙ 1,454 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,454 Sqft ∙ Built 2006
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 1213 Gordon Oaks Dr Plant City, FL 5
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2006
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,647
    • $1.06
    •  
PROPERTY LISTING DETAILS
Mike Griffin
1.813.967.3607
Griffin Executive Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273429
Last Updated: 11/06/2020
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