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1407 College Park Ln Tampa, FL 33612

3 Beds 2 Baths 1,200 sqft Built 1965

$175,900

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $146.58
  • 18 Days on Market
  • MLS # : T3289382
  • Updated Date : 02/24/2021 at 19:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Exclusive Homes Realty, Inc.

Listing Agent's Description

A PERFECT PLACE TO CALL HOME! This newly renovated 3-bedroom 2 bath boosts 1,200 sq feet of living space and sits in a cul de sac and has so much to offer. Inside you will find a centrally cooled/heated home with an open floor plan. Its freshly painted walls and brand-new kitchen boast new appliances and crisp cabinets that will surely be a great area to entertain your family and friends. This home boasts wonderful tile floors and its many windows let natural light and also have newly installed blinds for privacy. This gem of home offers a spacious living room area, new light fixtures, great sized bedrooms and bathrooms with new fixtures and a wonderful large back yard to host gatherings and cook outs or provide a shaded tranquil area to relax. This home is a rare find, with just a short walk to University Mall, restaurants and so much more. Conveniently located near USF, major hospitals like James A. Haley VA Hospital, Shriner’s Hospital Orthopedic and theme parks like Busch Gardens and Adventure island, this home provides easy access to major highways like I-75, I-4 & I-275 too! Call today and make your appointment to view!

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: University

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $46k238k

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

Neighborhood: University

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6511613

* 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
Miles Elementary School Primary Regular 810 68 1
Liberty Middle School Middle Regular 1,202 68 6
Freedom High School High Regular 2,069 103 4

Miles Elementary School

  • Education Level: Primary
  • # of students: 810
  • # of teachers: 68
1
GreatSchools Rating

Liberty Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 68
6
GreatSchools Rating

Freedom High School

  • Education Level: High
  • # of students: 2,069
  • # of teachers: 103
4
GreatSchools Rating
 

$158,310$193,490$175,900

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$611
Property Tax -$216
Property Insurance -$105
HOA -$155
Property Management Fees -$129
CASH FLOW
-$7

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.

$175,900

PROJECTED PRICE

$1,210

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 0.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$52,364

INVESTMENT

$52,364

Down Payment
$43,975
Rehab Estimate
$5,750
Closing Costs
$2,639

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$611

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,975
Loan Amount $131,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$9,830

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,305

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,070
1$1,0702$1,1353$1,2104$1,3755$1,395
$1,395
RENT COMPS ANALYSIS
  • 1407 College Park Ln Tampa, FL 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $1.01
    •  
  • 12215 N 9th St Tampa, FL 1
    • 3 beds 1 baths ∙ 1,043 Sqft ∙ Built 1966 3 beds 1 baths ∙ 1,043 Sqft ∙ Built 1966
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $1.03
    •  
  • 920 E 123rd Ave Tampa, FL 2
    • 3 beds 2 baths ∙ 1,036 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,036 Sqft ∙ Built 1962
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,135
    • $1.10
    •  
  • 1521 Heather Ave Tampa, FL 4
    • 3 beds 1 baths ∙ 1,206 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,206 Sqft ∙ Built 1956
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.14
    •  
  • 12203 N 9th St Tampa, FL 5
    • 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1979
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.08
    •  
PROPERTY LISTING DETAILS
Erick Alin
1.813.695.4558
Exclusive Homes Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3289382
Last Updated: 02/24/2021
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