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16131 Manorwood Cir Tampa, FL 33624

3 Beds 2 Baths 1,499 sqft Built 1981

$265,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $176.78
  • 2 Days on Market
  • MLS # : T3282816
  • Updated Date : 01/02/2021 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,499 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Welcome Home! Located in the heart of Northdale, this beautiful block home has so much to offer! It consists of 3 bed/2 bath, 1 car garage with an additional Florida room. Large backyard and side yard with a storage shed surrounded by conservation. Roof/2020, water heater/2017, and newly painted throughout. This home has hardwood floors and tile in the kitchen and bathrooms. Located minutes away from Dale Mabry Hwy and the Veterans expressway. This home is located in an excellent school district and is a block from YMCA, and Northdale Golf and Tennis Club. Schedule your 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: Northdale Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: Northdale Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9052101

* 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
Northwest Elementary School Primary Regular 652 48 9
Hill Middle School Middle Regular 870 52 6
Steinbrenner High School High Regular 2,329 116 8

Northwest Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 48
9
GreatSchools Rating

Hill Middle School

  • Education Level: Middle
  • # of students: 870
  • # of teachers: 52
6
GreatSchools Rating

Steinbrenner High School

  • Education Level: High
  • # of students: 2,329
  • # of teachers: 116
8
GreatSchools Rating
 

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

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$978
Property Tax -$326
Property Insurance -$123
Property Management Fees -$129
CASH FLOW
$75

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

$1,630

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$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 45% 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

8.17

YEARS SAVED

$32,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,634

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6003$1,6304$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 16131 Manorwood Cir Tampa, FL 3
    • 3 beds 2 baths ∙ 1,499 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,499 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.09
    •  
  • 15712 Pony Pl Tampa, FL 1
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1980
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.09
    •  
  • 15846 Country Lake Dr Tampa, FL 2
    • 4 beds 2 baths ∙ 1,565 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,565 Sqft ∙ Built 1983
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 16028 Eagle River Way Tampa, FL 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1984
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.13
    •  
  • 15913 Marshfield Dr Tampa, FL 5
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1985
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.12
    •  
PROPERTY LISTING DETAILS
Jung Black
1.813.259.0000
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282816
Last Updated: 01/02/2021
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