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14605 Oak Vine Dr Lutz, FL 33559

3 Beds 3 Baths 2,014 sqft Built 1980

$285,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $141.51
  • 2 Days on Market
  • MLS # : U8116279
  • Updated Date : 03/13/2021 at 15:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,014 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Metro

Listing Agent's Description

Check out this 2 story home with 3 bedrooms, 2 1/2 baths, and 2 car garage located on a 1/4 acre lot with beautiful mature landscape. This home is located in the desirable Lake Forest community with no CDD and low HOA dues. Lake Forest has a community Pool, Clubhouse, Playground and park. As you walk in this home you are greeted by a large living room/dining room combo with high ceilings and lots of natural light. The kitchen features generous counter space, eat in area and a closet pantry. In the first floor of this home you also have a large bonus room with a wet bar and French doors opening to your beautiful back yard. On the second floor you have the spacious master bedroom and 2 additional bedrooms with brand new carpet. All the upstairs bedrooms have private balconies where you can enjoy your morning coffee. The insulation and the AC in this home has been recently replaced and the interior of the home has also been recently painted. This home is conveniently located near USF, VA Hospital, restaurants, shopping and the major highways. Schedule your showing TODAY!

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: Lake Forest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $74k365k

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

Neighborhood: Lake Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8782036

* 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
Chiles Elementary School Primary Regular 847 60 9
Liberty Middle School Middle Regular 1,202 68 6
Freedom High School High Regular 2,069 103 4

Chiles Elementary School

  • Education Level: Primary
  • # of students: 847
  • # of teachers: 60
9
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$990
Property Tax -$360
Property Insurance -$153
HOA -$64
Property Management Fees -$129
CASH FLOW
-$16

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.

$285,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$18,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,833

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,8004$2,200
$2,200
RENT COMPS ANALYSIS
  • 14605 Oak Vine Dr Lutz, FL 2
    • 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.83
    •  
  • 14715 Tall Tree Dr Lutz, FL 1
    • 4 beds 2 baths ∙ 2,071 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,071 Sqft ∙ Built 1978
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 4437 Vieux Carre Cir Tampa, FL 3
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1975
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 5103 Oakhaven Ln Tampa, FL 4
    • 3 beds 2 baths ∙ 2,178 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,178 Sqft ∙ Built 1969
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
PROPERTY LISTING DETAILS
Gabe Alves
1.727.563.4606
Re/max Metro
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8116279
Last Updated: 03/13/2021
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