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116 Cinnamon Bark Pl Valrico, FL 33594

4 Beds 3 Baths 2,086 sqft Built 2018

$294,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $141.37
  • 6 Days on Market
  • MLS # : T3277644
  • Updated Date : 11/28/2020 at 10:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,086 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ez Choice Realty

Listing Agent's Description

Must see this 4 bedroom 2.5 bathroom modernly designed home in the desired neighborhood of Taho Woods. Solid all concrete construction. It’s very rare to find a two story home that is concrete block constructed all the way up to the roof, rather than just on the first floor. This will give you a lower insurance bill, better energy efficiency and peace of mind during storm season. The large open concept includes the kitchen that opens up to the family room and dining area. The gorgeous kitchen will certainly please with upgrades that include granite countertops, upgraded espresso cabinets, upgraded dark stainless steel appliances recently installed, large pantry and island. Kitchen and dining area have upgraded lighting. Large sliders lead to a huge completely fenced in back yard with plenty of room for a pool. Upstairs the owners suite easily fits king sized furniture and includes vinyl tile, an ensuite bathroom with double vanity, granite countertops, upgraded tile walk-in shower, walk-in closet and separate linen closet. Three additional bedrooms and a second full bathroom are located upstairs. The laundry room is located upstairs for convenience access and comes equipped with a top load washer and dryer. Additional upgrades include Ceiling fans, smart home with smart thermostat, nest doorbell, and pin code lock. Taho Woods is located in Valrico just outside of Brandon and Riverview, only half a mile north from US-60. The close proximity to 60 and I-75 allow easy access to workplaces in Brandon or Tampa and is only a short drive to highly rated schools, restaurants, entertainment, and gulf coast beaches.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 33594

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Zip Code: 33594

ZipNIR 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
Nelson Elementary School Primary Regular 838 60 5
Mulrennan Middle School Middle Regular 1,133 71 6
Durant High School High Regular 2,303 117 5

Nelson Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 60
5
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
 

$265,410$324,390$294,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,088
Property Tax -$389
Property Insurance -$158
HOA -$72
Property Management Fees -$80
CASH FLOW
$64

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.

$294,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.63%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$32,063

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,857

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,8004$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 116 Cinnamon Bark Pl Valrico, FL 4
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 509 Sunset Beach Ct Valrico, FL 1
    • 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 2001
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 3506 Kearsney Abbey Cir Dover, FL 2
    • 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2017
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 211 English Channel Pl Dover, FL 3
    • 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2018
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 3403 Pine Top Dr Valrico, FL 5
    • 4 beds 2 baths ∙ 2,223 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,223 Sqft ∙ Built 2002
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
PROPERTY LISTING DETAILS
Rachel Sherman
1.813.230.1861
Ez Choice Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277644
Last Updated: 11/28/2020
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