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16104 W Lake Burrell Dr Lutz, FL 33549

3 Beds 2 Baths 1,568 sqft Built 1985

$255,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $162.63
  • 3 Days on Market
  • MLS # : U8111378
  • Updated Date : 01/29/2021 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,568 sqft
  • Baths : 2 full
Listing Agent

Your Home Sold Guaranteed Realty

Listing Agent's Description

Quaint home, located in the quiet community of West Lake Burrell Estates is ready for your finishing touches. Plenty of natural light throughout the home, especially in the large family room which overlooks the backyard, an area great for entertaining. All tile floor throughout. Oversized fenced in lot with mature landscaping and plenty of room for a pool. Schedule your private showing today!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Burrell Lake Sinclair

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $85k380k

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

Neighborhood: Lake Burrell Lake Sinclair

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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$886
Property Tax -$322
Property Insurance -$127
Property Management Fees -$129
CASH FLOW
-$64

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.

$255,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 6.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$12,745

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,603

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5953$1,6004$1,6495$1,750
$1,750
RENT COMPS ANALYSIS
  • 16104 W Lake Burrell Dr Lutz, FL 1
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.89
    •  
  • 14923 W Hardy Dr Tampa, FL 2
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1973
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 14958 Old Pointe Rd Tampa, FL 3
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1983
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.13
    •  
  • 2304 Towery Trl Lutz, FL 4
    • 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 1985
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.03
    •  
  • 15914 Stags Leap Dr Lutz, FL 5
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ernest Van Glahn Pa
1.727.267.2347
Your Home Sold Guaranteed Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8111378
Last Updated: 01/29/2021
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