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12112 Midlake Dr Tampa, FL 33612

3 Beds 2 Baths 1,605 sqft Built 1964

$299,900

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $186.85
  • 3 Days on Market
  • MLS # : T3276872
  • Updated Date : 11/21/2020 at 12:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,605 sqft
  • Baths : 2 full
Listing Agent

Pineywoods Realty Llc

Listing Agent's Description

Live the Florida lakefront lifestyle! This beautiful 3-bedroom, 2-bathroom home is conveniently located in one of Greater Carrollwood's most charming areas. Homes this well maintained and beautifully updated rarely come available in this neighborhood, and this one has everything you have been searching for! The stunning kitchen features upgraded cabinets, bright and modern GRANITE COUNTERTOPS, and STAINLESS STEEL APPLIANCES. You will enjoy an open entertaining area, and living room with beautiful and durable LAMINATE FLOORING. Master suite features an en-suite bathroom, with beautiful marble-look tile, and updated vanity and fixtures. Two additional bedrooms and bathroom provide plenty of space for family and friends. Outside you'll enjoy the Florida lifestyle while entertaining family and friends on your private screened-in patio overlooking the yard with mature trees and a lake view. Other highlights include: an inside laundry room and fresh paint and carpet. All the work is done, so all you have to do is move in! And did we mention that there's NO HOA?! Schedule your showing today, before this one is gone!

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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: North Forest Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: North Forest Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8952007

* 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
Lake Magdalene Elementary School Primary Regular 865 67 5
Adams Middle School Middle Regular 1,017 75 2
Chamberlain High School High Regular 1,772 98 4

Lake Magdalene Elementary School

  • Education Level: Primary
  • # of students: 865
  • # of teachers: 67
5
GreatSchools Rating

Adams Middle School

  • Education Level: Middle
  • # of students: 1,017
  • # of teachers: 75
2
GreatSchools Rating

Chamberlain High School

  • Education Level: High
  • # of students: 1,772
  • # of teachers: 98
4
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,107
Property Tax -$369
Property Insurance -$129
Property Management Fees -$80
CASH FLOW
-$74

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.

$299,900

PROJECTED PRICE

$1,610

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.1%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$18,969

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4253$1,4504$1,6105$1,650
$1,650
RENT COMPS ANALYSIS
  • 12112 Midlake Dr Tampa, FL 4
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.00
    •  
  • 12703 Marjory Ave Tampa, FL 1
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1960
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 11725 Forest Hills Dr Tampa, FL 2
    • 3 beds 1 baths ∙ 1,475 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,475 Sqft ∙ Built 1955
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.97
    •  
  • 12319 N Oakleaf Ave Tampa, FL 3
    • 3 beds 1 baths ∙ 1,416 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,416 Sqft ∙ Built 1958
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 12317 Veronica Ave Tampa, FL 5
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1966
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
PROPERTY LISTING DETAILS
Stephen Scott Pa
1.813.688.0068
Pineywoods Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3276872
Last Updated: 11/21/2020
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