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13653 Fareham Rd Odessa, FL 33556

3 Beds 2 Baths 1,522 sqft Built 2004

$222,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $145.86
  • 2 Days on Market
  • MLS # : T3273631
  • Updated Date : 11/02/2020 at 12:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,522 sqft
  • Baths : 2 full
Listing Agent

Premier Realty Of Tampa

Listing Agent's Description

A must see three-bedroom, two-bathroom, two car garage, single story home with an open concept layout. This location is very convenient to both Tampa and Pasco county in a community with a low HOA fee and no CDD fee. The kitchen opens to the living room and the home’s layout feels very spacious and is great for entertaining. Through the sliding glass door, you will find a deck leading to the large, fenced yard. The laundry closet is conveniently located off the kitchen and the washer and dryer are included with the home. The master bedroom has a large walk in closet and attached master bath. This home is in an all A-rated school district (Odessa Elementary, Seven Springs Middle, and Mitchell High). Located close to the Veterans Expwy & Suncoast Pkwy, the community is very conveniently located and is a quick trip to SR-54, Tampa International, the Citrus Park Mall, and more. The community has two wonderful playgrounds with a large open area. Your opportunity to call this home awaits!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Ashley Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k463k

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

Neighborhood: Ashley Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9052535

* 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
Odessa Elementary School Primary Regular 836 56 8
Seven Springs Middle School Middle Regular 1,442 88 9
James W. Mitchell High School High Regular 1,892 117 7

Odessa Elementary School

  • Education Level: Primary
  • # of students: 836
  • # of teachers: 56
8
GreatSchools Rating

Seven Springs Middle School

  • Education Level: Middle
  • # of students: 1,442
  • # of teachers: 88
9
GreatSchools Rating

James W. Mitchell High School

  • Education Level: High
  • # of students: 1,892
  • # of teachers: 117
7
GreatSchools Rating
 

$199,800$244,200$222,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$819
Property Tax -$249
Property Insurance -$125
HOA -$37
Property Management Fees -$80
CASH FLOW
$231

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.

$222,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$64,580

INVESTMENT

$64,580

Down Payment
$55,500
Rehab Estimate
$5,750
Closing Costs
$3,330

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$819

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,500
Loan Amount $166,500
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$45,787

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5403$1,5504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 13653 Fareham Rd Odessa, FL 2
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.01
    •  
  • 13708 Tramore Dr Odessa, FL 1
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2004
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 13646 Tramore Dr Odessa, FL 3
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2004
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.05
    •  
  • 13840 Vanderbilt Rd Odessa, FL 4
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 1311 Loretto Cir Odessa, FL 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2002
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Richard Stone
1.813.417.2480
Premier Realty Of Tampa
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273631
Last Updated: 11/02/2020
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