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14042 Wolcott Dr Tampa, FL 33624

5 Beds 3 Baths 2,296 sqft Built 1980

$415,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1980
  • Price/Sqft : $180.75
  • 10 Days on Market
  • MLS # : T3267867
  • Updated Date : 11/01/2020 at 11:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,296 sqft
  • Baths : 3 full
Listing Agent

People's Choice Realty Svc Llc

Listing Agent's Description

Motivated Seller with well maintained Carrollwood Village 5 bedroom/3bath home with screened pool and Upgrades. This conveniently located home offers the three way split floor plan perfect for an extended family or any lifestyle. This house has lots of updates including new flooring, new interior and exterior paint. The upgraded kitchen with an abundance of beautiful wood cabinets, new laminate floors & granite counter tops, Stove hood vent, breakfast bar and dinning area. Kitchen overlooks spacious family room with stone fireplace with vaulted ceilings and formal living room. Other features include - Formal dining and formal living room, indoor laundry room, large master suite with walk-in closet and large master bath with walk-in shower and dual sinks. The 5th bedroom offers a walk-in closet, private access and full bath. Perfect for guests, in-law or teenage retreat. FANTASTIC FLOOR PLAN. Most living areas have views or access to pool and large backyard. The outdoor space includes Screened pool and large covered lanai w/brick paved decking. Well maintained mature landscaping is an added plus. Carrollwood Village has easy access to Golf, Basketball courts, restaurants, playground, tennis courts, cultural center and close to major highways, YMCA, hospitals and more...

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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: Carrollwood Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $85k382k

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

Neighborhood: Carrollwood Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9052651

* 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,531
Property Tax -$510
Property Insurance -$169
HOA -$43
Property Management Fees -$80
CASH FLOW
-$33

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.

$415,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$32,778

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,233

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,0004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 14042 Wolcott Dr Tampa, FL 5
    • 5 beds 3 baths ∙ 2,296 Sqft ∙ Built 1980 5 beds 3 baths ∙ 2,296 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 4706 Fox Hunt Dr Tampa, FL 1
    • 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1982
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
  • 14011 Wolcott Dr Tampa, FL 2
    • 4 beds 2 baths ∙ 2,316 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,316 Sqft ∙ Built 1981
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 5007 Berryhill Ct Tampa, FL 3
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1997
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
  • 4210 Grainary Ave Tampa, FL 4
    • 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 1981
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
PROPERTY LISTING DETAILS
Paresh Shah
1.813.468.4585
People's Choice Realty Svc Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3267867
Last Updated: 11/01/2020
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