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11205 Cypress Reserve Dr Tampa, FL 33626

3 Beds 2 Baths 1,758 sqft Built 2000

$373,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $212.17
  • 4 Days on Market
  • MLS # : T3297274
  • Updated Date : 03/25/2021 at 15:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,758 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Tampa Prop.

Listing Agent's Description

This is a GEM you don't want to miss! DELIGHTFUL, completely updated home in the GATED community of Sheffield in the highly desired Westchase suburb! This 3 bedroom, 2 bath with brand new gorgeous gray laminate flooring and fresh paint throughout, features an open floor plan with vaulted ceilings allowing for a WONDERFULLY spacious environment. This home has 2 BEAUTIFULLY remodeled bathrooms featuring quartz counter tops with dual sinks in the grand master bathroom suite, spotlighting an extra large dual head shower and walk-in closet with nooks and cubbies for all your organization needs. In the need for clean, the laundry room is built for luxury including a front load Samsung washer and dryer. Working from home, the office den is an absolute necessity. A large separate FORMAL dining room can accommodate those MEMORABLE gatherings with Friends and Family. The kitchen features granite countertops with NEW stainless steel appliances, a gas range, and new garbage disposal, and overlooks the GENEROUS living area! Enjoy your morning coffee on the large brick paved patio, PEACEFULLY gazing out into the backyard that’s fully surrounded by privacy fencing. This home has an energy efficient carrier AC/Unit with dehumidifier and a WiFi energy efficient thermostat just installed in 2021, along with a BRAND NEW natural gas water heater. Community features 2 large covered neighborhood playgrounds, with low HOA and no CDD fees. It’s conveniently located to a local library, great dining, entertainment, and shopping nearby with easy access to Veteran’s Expressway, Tampa International Airport, downtown Tampa, and the beaches! Get it while it’s HOT!

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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: Westchester of Hillsborough

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $85k391k

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

Neighborhood: Westchester of Hillsborough

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9052302

* 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
Deer Park Elementary School Primary Regular 985 69 8
Farnell Middle School Middle Regular 1,356 75 9
Alonso High School High Regular 2,607 136 5

Deer Park Elementary School

  • Education Level: Primary
  • # of students: 985
  • # of teachers: 69
8
GreatSchools Rating

Farnell Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 75
9
GreatSchools Rating

Alonso High School

  • Education Level: High
  • # of students: 2,607
  • # of teachers: 136
5
GreatSchools Rating
 

$335,700$410,300$373,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,296
Property Tax -$459
Property Insurance -$138
HOA -$58
Property Management Fees -$129
CASH FLOW
$111

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.

$373,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 2.5%
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$20k

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$104,595

INVESTMENT

$104,595

Down Payment
$93,250
Rehab Estimate
$5,750
Closing Costs
$5,595

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,296

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,250
Loan Amount $279,750
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$38,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,916

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$2,1904$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 11205 Cypress Reserve Dr Tampa, FL 3
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.25
    •  
  • 12532 Blazing Star Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1999
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
  • 10501 Marlington Pl Tampa, FL 2
    • 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 1999
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.02
    •  
  • 10602 Ashtead Wood Ct Tampa, FL 4
    • 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 1999
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.15
    •  
  • 10606 Kidbrooke Ct Tampa, FL 5
    • 3 beds 3 baths ∙ 1,916 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,916 Sqft ∙ Built 2000
    property image
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.15
    •  
PROPERTY LISTING DETAILS
Brian Sodano
1.813.997.2278
Keller Williams Tampa Prop.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3297274
Last Updated: 03/25/2021
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