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1102 Lumsden Trace Cir Valrico, FL 33594

3 Beds 2 Baths 1,822 sqft Built 1999

$295,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $161.91
  • 3 Days on Market
  • MLS # : O5917238
  • Updated Date : 01/16/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,822 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Valrico one-story home offers a patio, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Lumsden Trace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $91k404k

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

Neighborhood: Lumsden Trace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9052102

* 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
Buckhorn Elementary School Primary Regular 640 52 7
Mulrennan Middle School Middle Regular 1,133 71 6
Durant High School High Regular 2,303 117 5

Buckhorn Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 52
7
GreatSchools Rating

Mulrennan Middle School

  • Education Level: Middle
  • # of students: 1,133
  • # of teachers: 71
6
GreatSchools Rating

Durant High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 117
5
GreatSchools Rating
 

$265,500$324,500$295,000

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 -$1,025
Property Tax -$389
Property Insurance -$142
HOA -$38
Property Management Fees -$129
CASH FLOW
-$82

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.

$295,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.0%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$14,174

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
  • $0.9

    LIST RENT PER SQFT
  • $1,562

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5503$1,6404$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 1102 Lumsden Trace Cir Valrico, FL 3
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.90
    •  
  • 1210 Dragon Head Dr Valrico, FL 1
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2002
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.80
    •  
  • 735 Grand Canyon Dr Valrico, FL 2
    • 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2001
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 4306 Brooke Dr Valrico, FL 4
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1999
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 4401 Brandon Ridge Dr Valrico, FL 5
    • 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 2000
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
PROPERTY LISTING DETAILS
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5917238
Last Updated: 01/16/2021
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