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1309 W Redbud St Plant City, FL 33563

3 Beds 2 Baths 1,337 sqft Built 1984

$214,100

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $160.13
  • 2 Days on Market
  • MLS # : T3287636
  • Updated Date : 01/31/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,337 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

A sizzling Woodfield Village Home with 2 bedrooms, room for a third, 2 baths, 2 car garage house ready for its new homeowner. So hot! Be careful not to burn your hands on the door when you walk in. The size of the living room and the main bedroom is extraordinary! The home is located centrally in beautiful Plant City. It was completely re-plumbed in 2017. In the kitchen, you will find all stainless steel appliances. Timeless tile throughout the home. The 11x24 shed has a loft and previously had a car stored in it.

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Improvement League of Plant City

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $72k238k

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

Neighborhood: Improvement League of Plant City

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7451590

* 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
Walden Lake Elementary School Primary Regular 888 60 6
Tomlin Middle School Middle Regular 1,608 104 4
Plant City High School High Regular 2,219 122 5

Walden Lake Elementary School

  • Education Level: Primary
  • # of students: 888
  • # of teachers: 60
6
GreatSchools Rating

Tomlin Middle School

  • Education Level: Middle
  • # of students: 1,608
  • # of teachers: 104
4
GreatSchools Rating

Plant City High School

  • Education Level: High
  • # of students: 2,219
  • # of teachers: 122
5
GreatSchools Rating
 

$192,690$235,510$214,100

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$744
Property Tax -$229
Property Insurance -$114
Property Management Fees -$129
CASH FLOW
$124

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.

$214,100

PROJECTED PRICE

$1,340

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 10.2%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,487

INVESTMENT

$62,487

Down Payment
$53,525
Rehab Estimate
$5,750
Closing Costs
$3,212

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$744

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,525
Loan Amount $160,575
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$27,789

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,337

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3403$1,4954$1,5505$1,599
$1,599
RENT COMPS ANALYSIS
  • 1309 W Redbud St Plant City, FL 2
    • 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.00
    •  
  • 1301 Oak Pointe Pl Plant City, FL 1
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 2000
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.02
    •  
  • 118 Orange Bud Way Plant City, FL 3
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 2004
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
  • 2006 E Timberlane Dr Plant City, FL 4
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1979
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 1001 Sandalwood Dr Plant City, FL 5
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1979
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.00
    •  
PROPERTY LISTING DETAILS
Justin Warner
1.813.410.1334
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3287636
Last Updated: 01/31/2021
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