Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10203 Lockwood Pines Ln Tampa, FL 33635

4 Beds 3 Baths 2,542 sqft Built 1994

$465,900

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $183.28
  • 3 Days on Market
  • MLS # : T3281219
  • Updated Date : 01/01/2021 at 18:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,542 sqft
  • Baths : 3 full
Listing Agent

Homeward Real Estate

Listing Agent's Description

Quietly tucked back into the Countryway area of Westchase — this updated Charles Rutenberg home features a 4 bedroom, 3 bathroom, 3 car garage, split floor plan with stunning hardwood flooring, newly remodeled kitchen, bathrooms and a screened in pool. The vaulted ceilings and crown molding elevate the space and brings elegance into the gathering areas. As you enter the home, you’re immediately greeted by the light and warmth through the home. Situated off the formal living/dining space, the master suite offers private access to the pool area. As you enter the open planned kitchen/family combo — you’re greeted by the eat-in nook encompassed by light through the oversized windows and sliding glass doors. Enjoy the fully updated Bathrooms, Upgraded Garage Door (insulated, reinforced), Plantation Shutters, Electric Upgrades 12 LED Recessed LED, Gorgeous new Kitchen Cabinets, Klipsch Speakers, New Lighting in Garage, Crown/Baseboards, Exterior Doors Replaced, New Piping in attic, Marble Flooring in kitchen, Radiant Barrier in Roof (added barrier) and Newly painted House with Sherwin Williams paint. This property shows like a model home.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Stony Brook at Countryway

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $85k471k

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

Neighborhood: Stony Brook at Countryway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9052416

* 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
Lowry Elementary School Primary Regular 834 66 6
Farnell Middle School Middle Regular 1,356 75 9
Alonso High School High Regular 2,607 136 5

Lowry Elementary School

  • Education Level: Primary
  • # of students: 834
  • # of teachers: 66
6
GreatSchools Rating

Farnell Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 75
9
GreatSchools Rating

Alonso High School

  • Education Level: High
  • # of students: 2,607
  • # of teachers: 136
5
GreatSchools Rating
 

$419,310$512,490$465,900

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,719
Property Tax -$573
Property Insurance -$183
HOA -$47
Property Management Fees -$129
CASH FLOW
$99

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$465,900

PROJECTED PRICE

$2,750

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,214

INVESTMENT

$129,214

Down Payment
$116,475
Rehab Estimate
$5,750
Closing Costs
$6,989

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,475
Loan Amount $349,425
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$52,998

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,745

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5953$2,6004$2,7505$3,100
$3,100
RENT COMPS ANALYSIS
  • 10203 Lockwood Pines Ln Tampa, FL 4
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.08
    •  
  • 11219 Pocket Brook Dr Tampa, FL 1
    • 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 1990
    property image
    LEASED 10/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.04
    •  
  • 11333 Quiet Forest Dr Tampa, FL 2
    • 4 beds 3 baths ∙ 2,613 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,613 Sqft ∙ Built 2013
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.99
    •  
  • 11323 Quiet Forest Dr Tampa, FL 3
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2013
    property image
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
  • 11219 Clayridge Dr Tampa, FL 5
    • 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 1994
    property image
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.25
    •  
PROPERTY LISTING DETAILS
Janice Barnard
1.813.789.7558
Homeward Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281219
Last Updated: 01/01/2021
BESbswy