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13338 Litewood Dr Hudson, FL 34669

2 Beds 2 Baths 1,562 sqft Built 1978

$119,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $76.18
  • 4 Days on Market
  • MLS # : T3276948
  • Updated Date : 11/20/2020 at 21:32
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,562 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Advantage

Listing Agent's Description

NO HOA, NO CDD, New Roof, Bring your boat and your tools to this large 3 bedroom home with detached two car garage/workshop. Previously a home to a contractor, this home is awaiting buyers finishing touches. Walking through the living room to the two bedrooms and one full bathroom. On the right side of the home is the dining room, kitchen, and second bathroom. Step down to the laundry room and converted the third bedroom. Sliding glass doors lead you to the large enclosed porch. Outside features a very large concrete driveway and the oversized garage/storage shed. This property is awaiting you, your pets and your tools. Buyer to verify room sizes and dimensions

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: Parkwood Acres

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Neighborhood: Parkwood Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5831590

* 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
Northwest Elementary School Primary Regular 712 60 4
Hudson Middle School Middle Regular 743 51 3
Fivay High School High Regular 1,320 81 4

Northwest Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 60
4
GreatSchools Rating

Hudson Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 51
3
GreatSchools Rating

Fivay High School

  • Education Level: High
  • # of students: 1,320
  • # of teachers: 81
4
GreatSchools Rating
 

$107,100$130,900$119,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$439
Property Tax -$133
Property Insurance -$127
Property Management Fees -$80
CASH FLOW
$410

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.

$119,000

PROJECTED PRICE

$1,190

PROJECTED RENT

1.00%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$37,285

INVESTMENT

$37,285

Down Payment
$29,750
Rehab Estimate
$5,750
Closing Costs
$1,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $29,750
Loan Amount $89,250
See What Happens When You Reinvest Cash Flow

18.17

YEARS SAVED

$42,225

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,367

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,190
1$1,1902$1,2993$1,4454$1,4505$1,529
$1,529
RENT COMPS ANALYSIS
  • 13338 Litewood Dr Hudson, FL 1
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.76
    •  
  • 13021 Sirius Ln Hudson, FL 2
    • 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1978
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.75
    •  
  • 9036 Seeley Ln Hudson, FL 3
    • 3 beds 1 baths ∙ 1,552 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,552 Sqft ∙ Built 1969
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.93
    •  
  • 8906 Welsh Way Hudson, FL 4
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1987
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 8906 Whistler Way Hudson, FL 5
    • 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1991
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,529
    • $0.88
    •  
PROPERTY LISTING DETAILS
Alex Khoyi
1.727.846.7777
Realty One Group Advantage
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3276948
Last Updated: 11/20/2020
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