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10905 Observatory Way Tampa, FL 33647

4 Beds 2 Baths 2,056 sqft Built 2009

$288,100

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $140.13
  • 5 Days on Market
  • MLS # : T3282046
  • Updated Date : 12/26/2020 at 13:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,056 sqft
  • Baths : 2 full
Listing Agent

Us Interamerican Realty Llc

Listing Agent's Description

Moving Ready & VACANT! Terrific single story, water view house with 4 bedroom, 2 bathrooms and 2 car garage located in Easton Park. Home features a foyer and a formal dining and living room at the entrance following by a versatile family living space and breakfast nook. The kitchen is equipped with granite countertops, a custom backsplash, 42” cabinets with crown molding, a breakfast bar, and stainless appliances. Split Floor Plan. Master suite presents a spacious area, a walk-in closet, and a master bath featuring two separate vanities and sinks, a bath tub and separate walk in shower. The sliding glass door leads you to the covered screened lanai and the fenced back yard. The fenced backyard is the perfect place for play or for entertaining. House was recently painted, HVAC was changed 3 years ago, water filtration system is included. Low HOA fees which covers cable, internet and land phone. Fantastic community pool, park and playground. Central yet tucked away, Easton Park offers a fantastic suburban feel and is just minutes to an abundance of shopping, dining, entertainment & medical. Minutes to the I-75, I-275, Wiregrass Mall, The Groves, Tampa Premium Outlets, Restaurants, Entertainment, and More. House is VACANT and easy to show.

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: New Tampa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $85k380k

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

Neighborhood: New Tampa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052057

* 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
Heritage Elementary School Primary Regular 657 51 4
Benito Middle School Middle Regular 1,053 63 7
Wharton High School High Regular 2,261 128 4

Heritage Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 51
4
GreatSchools Rating

Benito Middle School

  • Education Level: Middle
  • # of students: 1,053
  • # of teachers: 63
7
GreatSchools Rating

Wharton High School

  • Education Level: High
  • # of students: 2,261
  • # of teachers: 128
4
GreatSchools Rating
 

$259,290$316,910$288,100

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,063
Property Tax -$347
Property Insurance -$155
HOA -$136
Property Management Fees -$129
CASH FLOW
$110

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.

$288,100

PROJECTED PRICE

$1,940

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,097

INVESTMENT

$82,097

Down Payment
$72,025
Rehab Estimate
$5,750
Closing Costs
$4,322

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,063

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,025
Loan Amount $216,075
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$36,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,994

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9403$1,9504$1,9955$2,150
$2,150
RENT COMPS ANALYSIS
  • 10905 Observatory Way Tampa, FL 2
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.94
    •  
  • 11129 Ancient Futures Dr Tampa, FL 1
    • 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 2010
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 10738 Pictorial Park Dr Tampa, FL 3
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2010
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.02
    •  
  • 10822 Breaking Rocks Dr Tampa, FL 4
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2007
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 20101 Natures Hike Way Tampa, FL 5
    • 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 2007
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
PROPERTY LISTING DETAILS
Maria Urbano
1.954.253.3989
Us Interamerican Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282046
Last Updated: 12/26/2020
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