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1227 Coolridge Dr Brandon, FL 33511

3 Beds 2 Baths 1,169 sqft Built 1984

$200,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $171.09
  • 2 Days on Market
  • MLS # : T3286520
  • Updated Date : 01/24/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,169 sqft
  • Baths : 2 full
Listing Agent

Align Right Realty Clearwater

Listing Agent's Description

As you pull up to this home you will love the quiet neighborhood. entering through the front door you will be greeted by elegant grey vinyl flooring that flows through the entire home. The Kitchen is equipped with Quartz countertops, plenty of cabinet space and stainless steel appliances. Next to the kitchen you will find the dining room which comes with LED lighting. Moving on through the home you will find two good sized guest bedrooms along with the guest bathroom which has been nicely updated.The Master Bedroom is spacious and has an updated bath with a walk in shower. Continuing to the back of the home you will find the tiled and screened patio. Exiting the patio you are greeted by concrete block flooring leading to a shaded gazebo perfect for enjoying a cool breeze in the Spring. The Backyard also features new grass, a shed and stunning gardening. Additional features of this home include: NEW Energy efficient windows, NEW AC, NEW water softener, NEW mailbox, NEW gutters, and NEW paint

SEE MORE

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: Heather Lakes at Brandon

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $78k252k

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

Neighborhood: Heather Lakes at Brandon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8221624

* 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
Mintz Elementary School Primary Regular 865 64 6
Mclane Middle School Middle Regular 756 61 2
Brandon High School High Regular 1,864 116 4

Mintz Elementary School

  • Education Level: Primary
  • # of students: 865
  • # of teachers: 64
6
GreatSchools Rating

Mclane Middle School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 61
2
GreatSchools Rating

Brandon High School

  • Education Level: High
  • # of students: 1,864
  • # of teachers: 116
4
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$695
Property Tax -$255
Property Insurance -$104
Property Management Fees -$129
CASH FLOW
$78

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.

$200,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$21,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,265

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,3003$1,4004$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 1227 Coolridge Dr Brandon, FL 1
    • 3 beds 2 baths ∙ 1,169 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,169 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $1.08
    •  
  • 905 Old Field Dr Brandon, FL 2
    • 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1985
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.08
    •  
  • 902 Pine Ridge Cir E Brandon, FL 3
    • 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1986
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.09
    •  
  • 924 Axlewood Cir Brandon, FL 4
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1986
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.07
    •  
  • 1235 Alpine Lake Dr Brandon, FL 5
    • 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 2000
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
PROPERTY LISTING DETAILS
Alex Caballero
1.813.495.4487
Align Right Realty Clearwater
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286520
Last Updated: 01/24/2021
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