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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $231.85
- 5 Days on Market
- MLS # : T3276756
- Updated Date : 11/19/2020 at 01:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,639 sqft
- Baths : 2 full
Listing Agent
Florida Capital Realty
Listing Agent's Description
This well-appointed 3-bedroom, 2-car garage home with a pool is located in the award-winning community of Westchase in the neighborhood of the Shires. Meticulously maintained with thousands of dollars in recent upgrades! Gorgeous granite countertops throughout the home. Roof replaced in 2019 along with a brand-new Air-conditioning system in March of 2020! Samsung dishwasher, Microwave, and stove all new in 2020. This home is currently occupied but owners are happy to arrange quick showings and while you're there please make time to drive through this wonderful community and all it has to offer. 2 heated pools, 3 parks including a splash park, pavilions, ping pong tables + outdoor fitness equipment, tennis courts, soccer fields + basketball courts. Enjoy numerous family festivities including movies in the park, First Fridays + the Santa parade. Westchase was designed by an award-winning developer to be "walkable" with trails and bridges overlooking lakes and preserves. Enjoy walks through downtown Westchase known as West Park Village w/ lantern lighted streets, fountains, dining w/ outside seating + pet friendly, coffee shops, craft cocktail lounge + numerous sports bars/grills. Also enjoy the court yard bells on the hour every daytime hour. Westchase is located only 15 mins from the Tampa International airport and 30 mins from the award-winning beaches. Great Schools!
SEE MORE
- 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: Westchase
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Westchase
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,950 |
| EXPENSES | Loan Payment | -$1,402 |
| Property Tax | -$477 | |
| Property Insurance | -$131 | |
| HOA | -$23 | |
| Property Management Fees | -$80 | |
|
CASH FLOW
-$162
|
||
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.
$380,000
PROJECTED PRICE
$1,950
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.27% |
| Appreciation Year (1-5) | 0.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.26% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$106,450
LOAN DETAILS
$1,402
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $95,000 |
| Loan Amount | $285,000 |
4.17
YEARS SAVED
$17,605
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,950
LIST RENT -
$1.19
LIST RENT PER SQFT
-
$1,959
COMP ESTIMATED VALUE -
$1.2
COMP AVG. RENT PER SQFT
Comps Range
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- Rent Per SQFT
- $2,350
- $1.19
PROPERTY LISTING DETAILS
1.617.913.4344
Florida Capital Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: T3276756
Last Updated: 11/19/2020
