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16021 Saddlestring Dr Tampa, FL 33618

3 Beds 2 Baths 1,461 sqft Built 1981

$265,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $181.38
  • 2 Days on Market
  • MLS # : U8103354
  • Updated Date : 11/02/2020 at 20:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,461 sqft
  • Baths : 2 full
Listing Agent

Century 21 Affiliated

Listing Agent's Description

Beautiful 3 bedroom, 2 bath pool home in the family friendly neighborhood of North Lakes, adjacent to Carrollwood. This home is in a great location and is well maintained. Relax in your backyard oasis with a 20x10 screened and covered back porch and swim in your gorgeous 27x14, 7-foot-deep pool. Bedrooms are upstairs. Dining room can easily be enclosed to make a 4th bedroom. WELL MAINTAINED: A/C (2019), Roof (2020), Water Heater (2019), Pool Resurfaced (2018), Pool Pump (2018), Exterior Paint (2020). Other home features include large fenced back yard with room for RV and boat parking, new security system and Ring doorbell, most windows are upgraded to double-pane, attic storage and orange tree in the front yard. SAVE MONEY with no CDD or HOA fees. LOCATION: Great Schools and close to everything: 25 mins to downtown Tampa, 25 mins to Tampa International, 18 mins to USF, quick access to I-275 and 589. Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northlakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $81k238k

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

Neighborhood: Northlakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781613

* 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
Maniscalco Elementary School Primary Regular 524 45 7
Buchanan Middle School Middle Regular 743 53 3
Gaither High School High Regular 2,090 117 5

Maniscalco Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 45
7
GreatSchools Rating

Buchanan Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
3
GreatSchools Rating

Gaither High School

  • Education Level: High
  • # of students: 2,090
  • # of teachers: 117
5
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$978
Property Tax -$326
Property Insurance -$121
Property Management Fees -$80
CASH FLOW
-$44

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.

$265,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 10.2%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,534

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4604$1,5825$1,850
$1,850
RENT COMPS ANALYSIS
  • 16021 Saddlestring Dr Tampa, FL 3
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.00
    •  
  • 16106 Sagebrush Rd Tampa, FL 1
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1978
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.99
    •  
  • 3219 Laurel Dale Dr Tampa, FL 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1983
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.08
    •  
  • 2814 Cedaridge Dr Tampa, FL 4
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1981
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,582
    • $1.06
    •  
  • 4007 Alexander Palm Ct Tampa, FL 5
    • 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 2001
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
PROPERTY LISTING DETAILS
Matthew Lackey
1.813.803.2049
Century 21 Affiliated
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8103354
Last Updated: 11/02/2020
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