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1406 Storington Ave Brandon, FL 33511

4 Beds 2 Baths 2,132 sqft Built 1993

$315,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $147.75
  • 6 Days on Market
  • MLS # : O5925581
  • Updated Date : 02/24/2021 at 13:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,132 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Brandon one-story home offers a patio, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Providence Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k253k

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

Neighborhood: Providence Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781628

* 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
Mintz Elementary School Primary Regular 865 64 6
Mclane Middle School Middle Regular 756 61 2
Riverview High School High Regular 2,387 128 6

Mintz Elementary School

  • Education Level: Primary
  • # of students: 865
  • # of teachers: 64
6
GreatSchools Rating

Mclane Middle School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 61
2
GreatSchools Rating

Riverview High School

  • Education Level: High
  • # of students: 2,387
  • # of teachers: 128
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,094
Property Tax -$401
Property Insurance -$160
HOA -$29
Property Management Fees -$129
CASH FLOW
$157

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.

$315,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 7.1%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$37,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,956

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,9003$1,9254$1,9705$2,145
$2,145
RENT COMPS ANALYSIS
  • 1406 Storington Ave Brandon, FL 4
    • 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.92
    •  
  • 1419 Lakehurst Way Brandon, FL 1
    • 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 1999
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.88
    •  
  • 1520 Attleboro Ln Brandon, FL 2
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 1988
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 1514 Attleboro Ln Brandon, FL 3
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1989
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.93
    •  
  • 1625 Compton St Brandon, FL 5
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1992
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.93
    •  
PROPERTY LISTING DETAILS
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5925581
Last Updated: 02/24/2021
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