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12904 Cinnimon Pl Tampa, FL 33624

4 Beds 3 Baths 2,983 sqft Built 1992

$469,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $157.22
  • 7 Days on Market
  • MLS # : T3275953
  • Updated Date : 11/16/2020 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,983 sqft
  • Baths : 3 full
Listing Agent

Re/max Realty Unlimited

Listing Agent's Description

This beautiful home sits on over a quarter acre with a fenced back yard and plenty of room to add a pool. This unique home actually has 5 bedrooms. There is an additional bedroom off the Master bath that would make a perfect office or nursery. The oversized master bath has dual sinks, a garden tub, and a shower. Each of the bedrooms has a large closet. The laundry room is larger than most and there is also a 9X5 storage room/pantry or hobby room. The kitchen is open and airy with a dinette area that is brightened by a skylight. This home also features a separate formal living room and formal dining room area in addition to the enormous family room boasting a wood-burning fireplace. Outback there is a covered screened porch to enjoy as well as a spacious, fenced backyard. the sprinklers use reclaimed water, so you can keep it beautiful without breaking the bank. There is fresh paint inside and out, new toilets, and brand new A/C unity in 2019

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: Village Wood

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500kPrice in $85k501k

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

Neighborhood: Village Wood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9052802

* 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
Essrig Elementary School Primary Regular 675 53 6
Hill Middle School Middle Regular 870 52 6
Gaither High School High Regular 2,090 117 5

Essrig Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 53
6
GreatSchools Rating

Hill Middle School

  • Education Level: Middle
  • # of students: 870
  • # of teachers: 52
6
GreatSchools Rating

Gaither High School

  • Education Level: High
  • # of students: 2,090
  • # of teachers: 117
5
GreatSchools Rating
 

$422,100$515,900$469,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$1,730
Property Tax -$577
Property Insurance -$209
HOA -$25
Property Management Fees -$80
CASH FLOW
$259

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.

$469,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.3%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$71,804

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $3,087

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,880
1$2,8802$3,1003$3,300
$3,300
RENT COMPS ANALYSIS
  • 12904 Cinnimon Pl Tampa, FL 1
    • 4 beds 2 baths ∙ 2,983 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,983 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $0.97
    •  
  • 13704 Halliford Dr Tampa, FL 2
    • 5 beds 3 baths ∙ 3,119 Sqft ∙ Built 1984 5 beds 3 baths ∙ 3,119 Sqft ∙ Built 1984
    property image
    LEASED 05/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.99
    •  
  • 4510 Carrollwood Village Dr Tampa, FL 3
    • 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 1973 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 1973
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.08
    •  
PROPERTY LISTING DETAILS
Beth Christo
1.813.714.3811
Re/max Realty Unlimited
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3275953
Last Updated: 11/16/2020
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