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11008 Lynn Lake Cir Tampa, FL 33625

4 Beds 3 Baths 2,217 sqft Built 2002

$364,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $164.59
  • 3 Days on Market
  • MLS # : T3278496
  • Updated Date : 12/05/2020 at 14:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,217 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mihara & Associates Inc.

Listing Agent's Description

Have you been in search of a bright and spacious family home that will allow you to customize it to your own style? Look no further! Ideally situated on a large corner lot, this airy lakefront home is everything you have been looking for and more. Although it is completely turnkey, there is still plenty of room for you to come in and make it your own with some simple upgrades and design features. After parking in your two car garage, you will love coming home to your grand and welcoming foyer that opens to the open family room, breakfast nook, and kitchen all overlooking your caged sparkling pool and lake. Love to entertain guests or gather around the dinner table as a family? You’ve also got a beautiful formal dining room waiting for you. Just imagine all of the fun and peace your family will find relaxing by the pool while watching one of our epic sunsets over the lake! With four bedrooms and two bathrooms spread out over two stories and 2,217 square feet there is more than enough room for a growing family. While each of the three guest bedrooms are delightful with ample closet space, it is your owner’s suite that will win your heart. Just imagine waking up each morning and sipping coffee from your private balcony overlooking the lake and then getting ready to tackle your day in your en-suite bathroom with separate shower and garden tub and dual vanity. This Lynn Lake home has been expertly designed to allow you and your family to fully embrace all over the best elements of the healthy Florida lifestyle. The only thing missing is you!

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MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Carrollwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: Carrollwood

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
Cannella Elementary School Primary Regular 727 54 6
Pierce Middle School Middle Regular 977 66 3
Leto High School High Magnet 1,971 108 4

Cannella Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 54
6
GreatSchools Rating

Pierce Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 66
3
GreatSchools Rating

Leto High School

  • Education Level: High
  • # of students: 1,971
  • # of teachers: 108
4
GreatSchools Rating
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,346
Property Tax -$460
Property Insurance -$164
HOA -$42
Property Management Fees -$129
CASH FLOW
-$141

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.

$364,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

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

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$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$18,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,968

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8954$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 11008 Lynn Lake Cir Tampa, FL 5
    • 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 5902 Birchwood Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1985
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 11204 Madison Park Dr Tampa, FL 2
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2005
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 10921 Arbor Ridge Dr Tampa, FL 3
    • 4 beds 2 baths ∙ 2,207 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,207 Sqft ∙ Built 1998
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 7304 Brightwater Oaks Dr Tampa, FL 4
    • 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 2003
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Oscar Contreras
1.813.335.3173
Mihara & Associates Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3278496
Last Updated: 12/05/2020
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