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PROPERTY INFO
FACTS
- Single Family
- Built In 1964
- Price/Sqft : $193.06
- 3 Days on Market
- MLS # : T3290584
- Updated Date : 02/19/2021 at 14:46
CONSTRUCTION
- Beds : 3
- Floor Size : 1,787 sqft
- Baths : 2 full , 1 half
Listing Agent
Addvantage Real Estate Services Llc
Listing Agent's Description
Mid Century Masterpiece! This Forrest Hills 3 bedroom, 2.5 bath home has been fully remodeled and updated inside and out while maintaining the original charm of its 1964 beginnings. The kitchen has been remodeled with new cabinets, tile, Bosch Dishwasher, stainless steal sink and high end Maytag Refrigerator. The barely used wall oven and cooktop was preserved, adding a classic feel to the kitchen that newer homes can't offer. Leading in to the common areas and dining/living room you will notice the diamond polished terrazzo floors that run throughout the rest of the house. Both bathrooms have been updated and completely remodeled to fit the theme of the house. The front rooms have PVC interior plantation shutters to add curb appeal. Relax in the comfortable Florida room after a long day. This home is truly move in ready and all big ticket items have been replaced. -New Roof 2015 -New Hurricane Impact windows. -Top of the line 18 seer Lennox Heat Pump with UV light and new antimicrobial ductwork.-2020 -All new paint inside and out. -All new gutters and leaf guards.-2020 -The house was completely re-piped and all plumbing supply lines were replaced with Class-A pex from the meter to every water fixture in the home.2021 -New electrical panel.-2021 -New Septic tank-2020/ Drain field 2015. -New Lawn Sprinkler system with wifi controller. -All New Landscaping, tropical plants and sod. -SimpliSafe Security system and video door bell. -Interior and Exterior LED lighting. This home was not an investor flip and has been greatly cared for by the owner.
SEE MORE
- 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: Lake Magdalene
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Magdalene
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,830 |
| EXPENSES | Loan Payment | -$1,198 |
| Property Tax | -$424 | |
| Property Insurance | -$139 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$61
|
||
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.
$345,000
PROJECTED PRICE
$1,830
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.13% |
| Appreciation Year (1-5) | 7.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.27% |
| 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
$97,175
LOAN DETAILS
$1,198
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $86,250 |
| Loan Amount | $258,750 |
5.33
YEARS SAVED
$19,195
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,830
LIST RENT -
$1.02
LIST RENT PER SQFT
-
$1,832
COMP ESTIMATED VALUE -
$1.03
COMP AVG. RENT PER SQFT
Comps Range
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12902 N Rome Ave Tampa, FL 3
- 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 1964
- Rent
- Rent Per SQFT
- $1,830
- $1.02
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11725 Forest Hills Dr Tampa, FL 1
- 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
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2101 Carroll Pl Tampa, FL 2
- 3 beds 1 baths ∙ 1,592 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,592 Sqft ∙ Built 1955
LEASED 10/06/19- Rent
- Rent Per SQFT
- $1,600
- $1.01
-
2302 Carroll Grove Dr Tampa, FL 4
- 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 1958
LEASED 10/31/20- Rent
- Rent Per SQFT
- $1,899
- $1.04
-
11510 N Ravine Road Tampa, FL 5
- 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 1962
LEASED 10/24/20- Rent
- Rent Per SQFT
- $2,100
- $1.08
PROPERTY LISTING DETAILS
1.727.610.8041
Addvantage Real Estate Services Llc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: T3290584
Last Updated: 02/19/2021
