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15801 Glenarn Dr Tampa, FL 33618

4 Beds 3 Baths 2,501 sqft Built 1987

$429,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $171.53
  • 34 Days on Market
  • MLS # : W7829362
  • Updated Date : 01/20/2021 at 05:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,501 sqft
  • Baths : 3 full
Listing Agent

Home Land Real Estate Inc

Listing Agent's Description

Check out this STUNNING 4 Bedroom+3 Bath+2 Car Garage+ Private screened in Pool+ Fenced in yard with new Sod! Brand New Roof installed 10-1-2020! AC installed August 2017 with 10 year parts warranty transferable to new owners! Luxury Vinyl Panel flooring throughout first level of home. Master Bathroom is completely remodeled with dual sinks, LARGE walk in shower with SIX shower heads, four of which are rainfall shower heads! Upon entry of home you are greeted with a gorgeous freshly painted staircase and vaulted ceilings! Large Dining/Game room has a custom wood accent wall. Living room has a beautiful wood burning fireplace for chilly nights or cool off in the private screened in pool during our long summer season! Kitchen is equipped with stainless steel appliances, beautiful red oak wood cabinets, and granite counter tops! Upstairs bedrooms and hallway have carpet throughout. Perfect family home located in the quiet neighborhood of Hampton Lake Villages. *Owners might consider custom pool table which converts to dining table. ( $6000 value) and bar furniture with the purchase of the home.*

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Lake Magdalene

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $85k292k

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

Neighborhood: Lake Magdalene

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781834

* 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
Claywell Elementary School Primary Regular 781 60 6
Hill Middle School Middle Regular 870 52 6
Gaither High School High Regular 2,090 117 5

Claywell Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 60
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
 

$386,100$471,900$429,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,490
Property Tax -$528
Property Insurance -$181
HOA -$19
Property Management Fees -$129
CASH FLOW
$154

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.

$429,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.58%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,490

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$45,474

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,614

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,5003$2,5004$2,5955$2,750
$2,750
RENT COMPS ANALYSIS
  • 15801 Glenarn Dr Tampa, FL 3
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 3406 Thorndale Way Tampa, FL 1
    • 4 beds 2 baths ∙ 2,159 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,159 Sqft ∙ Built 1981
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.06
    •  
  • 15610 N Himes Ave Tampa, FL 2
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2007
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.97
    •  
  • 15803 Hampton Village Dr Tampa, FL 4
    • 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 1986
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.18
    •  
  • 13927 Shady Shores Dr Tampa, FL 5
    • 4 beds 3 baths ∙ 2,829 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,829 Sqft ∙ Built 1986
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Virginia Mckinney
1.352.556.0909
Home Land Real Estate Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7829362
Last Updated: 01/20/2021
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