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10651 Deerberry Dr Land O Lakes, FL 34638

3 Beds 2 Baths 2,171 sqft Built 2004

INVESTimate

$299,900

List Price

$1,610

$1,449 - $1,771

Rent Est.

$324,402  ( +8.17%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $138.14
  • 5 Days on Market
  • MLS # : W7825942
  • Updated Date : 08/23/2020 at 10:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,171 sqft
  • Baths : 2 full
Listing Agent

Re/max Champions

Listing Agent's Description

Aggressively priced to sell quickly!! Over $75,000 worth of recent upgrades to the kitchen, bath, and outdoor living space as well as new wood plank tile flooring and interior paint. Kitchen upgrades include refinished cabinetry, new granite countertops, and LG appliances - Refrigerator, wall oven, microwave, and dishwasher. This major investment also helped to extend your Florida living to the rear screened-in patio which you can access from the master bedroom or the huge four-panel pocketing sliders in the living area. Your outdoor living features include sun sails, a new customized outdoor kitchen that features a Fire Magic under-counter refrigerator & dual burners as well as a Primo Grill/Smoker. There is also a huge custom fire feature for year-round comfort. Now for the basics - this home is located in the sought after Suncoast Lakes area and is only a short stroll from the community pool, tennis courts, clubhouse, and additional amenities. As you walk up to the home you will see it is meticulously maintained. Entering the home you will be greeted by a massive open area living, dining, and kitchen area - but do not miss the nice sized private office area on your left as you make your way in. There are two nice sized bedrooms on your right as well as a fully updated bathroom. There is a large dining/ multi-use area that you pass through to enter the open living room and fully remodeled kitchen. Off to the far right of the living area is a massive master suite with a huge walk-in closet and spacious master ensuite. There is so much you need to know about this home - make your appointment today so you can see all this home has to offer, you will not be disappointed!! All measurements and information is believed to be accurate but buyer validation is always recommended.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Suncoast Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k374k

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

Neighborhood: Suncoast Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Dr. Mary Giella Elementary School Primary Regular 674 50 5
Crews Lake Middle School Middle Regular 1,201 85 5
Hudson High School High Regular 1,267 82 5

Dr. Mary Giella Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 50
5
GreatSchools Rating

Crews Lake Middle School

  • Education Level: Middle
  • # of students: 1,201
  • # of teachers: 85
5
GreatSchools Rating

Hudson High School

  • Education Level: High
  • # of students: 1,267
  • # of teachers: 82
5
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,107
Property Tax -$341
Property Insurance -$163
HOA -$55
Property Management Fees -$80
CASH FLOW
-$135

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.

$299,900

PROJECTED PRICE

$1,610

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.17%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$13,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,666

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6103$1,7754$1,7955$1,875
$1,875
RENT COMPS ANALYSIS
  • 10651 Deerberry Dr Land O Lakes, 2
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.74
    •  
  • 10714 Weeping Elm Bnd Land O Lakes, 1
    • 3 beds 2 baths ∙ 2,121 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,121 Sqft ∙ Built 2004
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.75
    •  
  • 15442 Pepper Pine Ct Land O Lakes, 3
    • 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2006
    LEASED 07/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.75
    •  
  • 10534 Deerberry Dr Land O Lakes, 4
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2006
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.76
    •  
  • 10645 Weeping Elm Bnd Land O Lakes, 5
    • 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2004
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.81
    •  
PROPERTY LISTING DETAILS
Chad Schroeder
1.813.503.6660
Re/max Champions
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7825942
Last Updated: 08/23/2020
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