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1435 Loretto Cir Odessa, FL 33556

4 Beds 3 Baths 2,460 sqft Built 2002

$295,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $119.92
  • 3 Days on Market
  • MLS # : T3292470
  • Updated Date : 03/06/2021 at 17:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,460 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dynamic

Listing Agent's Description

Welcome to Parker Pointe- one of Odessa's most sought after communities! Ideally located, family friendly, and in an "A-rated" school district! This spacious two story home offers 4br/2.5ba/2cg and nearly 2500SF of bright and sunny living space. Two super exciting features of this home are the SOLAR PANELS and NEWLY INSTALLED ENERGY EFFICIENT WINDOWS, making monthly electric costs extraordinarily low! You will appreciate the flexible and functional floor plan, perfect for growing families. The powder room/potential pool bath has been extensively remodeled and is simply gorgeous! Upstairs you will find NEW CARPET as well as a large BONUS LOFT- perfect for an office or playroom! The OVERSIZED master retreat is spectacular and offers his & hers WALK IN CLOSETS and a luxurious en suite bath with double sinks, a soaking tub, and seperate shower. Your delightful SCREENED LANAI is perfect for entertaining or just relaxing with family and overlooks your private FENCED BACKYARD with plenty of room for a POOL! Parker Pointe has NO CDD fees and very low HOAs. Located minutes to fabulous shopping and delicious dining, the famous Gulf beaches, with easy access to I-75/275/Veteran's Expressway, making the commute to Downtown Tampa a breeze!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Parker Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k463k

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

Neighborhood: Parker Pointe

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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,025
Property Tax -$331
Property Insurance -$180
HOA -$38
Property Management Fees -$129
CASH FLOW
$318

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.

$295,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 4.7%
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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$52,945

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,134

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8953$2,0204$2,1005$2,395
$2,395
RENT COMPS ANALYSIS
  • 1435 Loretto Cir Odessa, FL 3
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.82
    •  
  • 2013 Ashley Lakes Dr Odessa, FL 1
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2005
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.81
    •  
  • 13801 Vanderbilt Rd Odessa, FL 2
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 1231 Brooke View Dr Odessa, FL 4
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2001
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 19622 Wyndmill Cir Odessa, FL 5
    • 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2000
    property image
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.93
    •  
PROPERTY LISTING DETAILS
Andrew Duncan
1.813.501.3939
Re/max Dynamic
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3292470
Last Updated: 03/06/2021
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