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16203 Nikki Ln Odessa, FL 33556

4 Beds 3 Baths 2,626 sqft Built 2003

$449,900

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $171.33
  • 2 Days on Market
  • MLS # : U8116287
  • Updated Date : 03/14/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,626 sqft
  • Baths : 3 full
Listing Agent

Re/max Capital Realty

Listing Agent's Description

Exceptional home in Coveted neighborhood. This home brings you all the best things about living in Southwest Florida. Located within the booming state road 54 corridor offers easy access to Veterans Expressway. Putting you 20 min away from Tampa International airport and 30 minutes from sandy beaches. This home is extremely spacious with an ideal split floor plan. Both the Master bedroom and ensuite guestroom have access to a huge screened lanai, with views of the big, lush backyard (perfect for large pool) and wooded conservation area. Schedule your private showing today. You don't want to miss your chance to live in this ideal community

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: Ivy Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k463k

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

Neighborhood: Ivy Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9052535

* 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
Bexley Elementary School Primary Regular NA
Charles S. Rushe Middle School Middle Regular 1,325 74 7
Sunlake High School High Regular 1,740 95 8

Bexley Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Charles S. Rushe Middle School

  • Education Level: Middle
  • # of students: 1,325
  • # of teachers: 74
7
GreatSchools Rating

Sunlake High School

  • Education Level: High
  • # of students: 1,740
  • # of teachers: 95
8
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,563
Property Tax -$504
Property Insurance -$189
HOA -$106
Property Management Fees -$129
CASH FLOW
-$1

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.

$449,900

PROJECTED PRICE

$2,490

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.3%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$32,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,731

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4903$2,5954$2,800
$2,800
RENT COMPS ANALYSIS
  • 16203 Nikki Ln Odessa, FL 2
    • 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.95
    •  
  • 19622 Wyndmill Cir Odessa, FL 1
    • 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2000
    property image
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.93
    •  
  • 18933 Saint Laurent Dr Lutz, FL 3
    • 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 1999
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.00
    •  
  • 1645 Abyss Dr Odessa, FL 4
    • 4 beds 2 baths ∙ 2,346 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,346 Sqft ∙ Built 2009
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.19
    •  
PROPERTY LISTING DETAILS
Ryan O'conner
1.813.602.1000
Re/max Capital Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8116287
Last Updated: 03/14/2021
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