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1111 N Gordon St Plant City, FL 33563

4 Beds 2 Baths 1,508 sqft Built 1987

INVESTimate

$216,900

List Price

$1,360

$1,224 - $1,496

Rent Est.

$238,980  ( +10.18%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $143.83
  • 3 Days on Market
  • MLS # : T3261166
  • Updated Date : 08/25/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,508 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful turnkey block, 4 bedroom, 2 bath , 1 car garage home in charming down town Plant City. 30 year dimensional shingle roof is only 3 years old (installed June 2017), brand new A/C installed spring 2020, 12 inch ceramic tile flow throughout the house. Bedroom #4 has a huge walk in closet that could double as a makeshift home office for anyone needing to work from home. The home has 3-year old energy efficient double-pained windows. The pearl custom crafted mahogany cabinets with quiet close doors & drawers showcase the kitchen beautifully and are finished off with Bianco Sardo granite with a polished & beveled edge & tiled backsplash and include SS Frigidaire Elite Series Appliance Package, also only 3 years old. Both bathrooms have been upgraded and have granite counter tops and newly tiled showers w/ mosaic inlays. Back yard is fully fenced with a wooden privacy fence.

SEE MORE

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: 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
 

$195,210$238,590$216,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$800
Property Tax -$232
Property Insurance -$124
Property Management Fees -$80
CASH FLOW
$123

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.

$216,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 10.18%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,229

INVESTMENT

$63,229

Down Payment
$54,225
Rehab Estimate
$5,750
Closing Costs
$3,254

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$800

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,225
Loan Amount $162,675
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$32,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,440

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,245
1$1,2452$1,3603$1,4004$1,5005$1,647
$1,647
RENT COMPS ANALYSIS
  • 1111 N Gordon St Plant City, 2
    • 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.90
    •  
  • 1314 E Alabama St Plant City, 1
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2007
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.89
    •  
  • 1603 N Gordon St Plant City, 3
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2006
    LEASED 07/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 709 Oakland Heights Ave Plant City, 4
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1978
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 1213 Gordon Oaks Dr Plant City, 5
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2006
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,647
    • $1.06
    •  
PROPERTY LISTING DETAILS
Julia Anderson
1.813.765.1424
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3261166
Last Updated: 08/25/2020
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