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1106 E Young St Plant City, FL 33563

3 Beds 2 Baths 1,648 sqft Built 1976

$250,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $151.70
  • 4 Days on Market
  • MLS # : T3277074
  • Updated Date : 11/20/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

Plant City Realty, Inc.

Listing Agent's Description

Looking for a 3 bedroom 2 bath to call your home this is it. In the city limit... On a corner lot. Back yard is completely fenced with chain link. Need an extra lot you can purchase mls T3277054, 1103 N. Warnell Street. Seller has never lived in the property. Needs some TLC.

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: Improvement League of Plant City

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $72k238k

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

Neighborhood: Improvement League of Plant City

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7451590

* 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
Jackson Elementary School Primary Regular 528 44 2
Marshall Middle School Middle Regular 846 57 2
Plant City High School High Regular 2,219 122 5

Jackson Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 44
2
GreatSchools Rating

Marshall Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 57
2
GreatSchools Rating

Plant City High School

  • Education Level: High
  • # of students: 2,219
  • # of teachers: 122
5
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$922
Property Tax -$268
Property Insurance -$132
Property Management Fees -$80
CASH FLOW
$38

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.

$250,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$25,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,343

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,4003$1,440
$1,440
RENT COMPS ANALYSIS
  • 1106 E Young St Plant City, FL 3
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.87
    •  
  • 1103 N Crystal Ter Plant City, FL 1
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1966
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.75
    •  
  • 2721 Charleston Dr Plant City, FL 2
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1971
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
Pamela Pomfret
1.813.764.0840
Plant City Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277074
Last Updated: 11/20/2020
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