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13941 Fareham Rd Odessa, FL 33556

4 Beds 2 Baths 1,965 sqft Built 2005

$274,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $139.90
  • 4 Days on Market
  • MLS # : W7828546
  • Updated Date : 11/21/2020 at 12:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,965 sqft
  • Baths : 2 full
Listing Agent

Re/max Champions

Listing Agent's Description

GET IT WHILE YOU CAN! This Spacious 4 Bedroom 2 Bath home located in the much-desired community of Ashely Lakes is available for YOU RIGHT NOW! Remodeled kitchen with an abundance of cabinets featuring Underlighting, Subway Tile, Contemporary lighting and plenty of beautiful granite counter space is the highlight of this home. Smack Dab In the center of this home is a Large Living/Family Room for watching TV on the big screen and enjoying company. The Split Bedroom plan is great for family or guests with Bedroom 4 located at the front of the property currently being used as a Home Office. Large Dining area off the kitchen is great for entertaining and family Holidays!! Home is very well kept and in great condition. The Fenced in back yard comes complete with Patio Set and Shed as an extra bonus so submit your offers without delay and have a chance at this home becoming yours. Newer Roof and A/C. Home is located across from conservation, so you’ll never have to worry about your view along with parks throughout this quaint tree lined community. Close to Shopping, Restaurants, Salons, Major Highways and Tampa International Airport. A must SEE!!

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: 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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,014
Property Tax -$308
Property Insurance -$151
HOA -$37
Property Management Fees -$80
CASH FLOW
$150

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.

$274,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.63%

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$1.0M

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$41,588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,714

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,685
1$1,6852$1,6953$1,7404$1,7505$1,895
$1,895
RENT COMPS ANALYSIS
  • 13941 Fareham Rd Odessa, FL 3
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.89
    •  
  • 2141 Stoneview Rd Odessa, FL 1
    • 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 2005
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.86
    •  
  • 14002 Jacobson Dr Odessa, FL 2
    • 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 2005
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 2313 Curzon Way Odessa, FL 4
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2005
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 13801 Vanderbilt Rd Odessa, FL 5
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
PROPERTY LISTING DETAILS
Steven Olandese
1.727.871.0288
Re/max Champions
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828546
Last Updated: 11/21/2020
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