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1631 Open Field Loop Brandon, FL 33510

4 Beds 2 Baths 1,765 sqft Built 2001

$265,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $150.14
  • 3 Days on Market
  • MLS # : T3290810
  • Updated Date : 02/27/2021 at 08:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,765 sqft
  • Baths : 2 full
Listing Agent

Wright Davis Real Estate

Listing Agent's Description

HIGHEST & BEST DUE MONDAY 3/1 BY 12PM. Breathtaking WATERFRONT 4BR/2BA home in beautiful Lakeview Village! Not only does this home have a peaceful pond view it also comes with PRIVATE access to LAKE MANGO. The living and dining room is perfect for entertaining and flows into the kitchen, which is great to keep the conversations going. The kitchen features a breakfast bar, ample wood cabinetry, stainless steel appliances and overlooks the family room, which has a spectacular view of the pond. The front room is spacious and can be used as a formal dining or living room or office/play area. Relax in your master bedroom, with its own pond view, enough room for king size furniture and private attached bath with includes dual vanities, garden soaking tub, and glass-enclosed shower and large walk-in shower. With three additional bedrooms, there is plenty of space for everyone, even the possibility of an at-home office. Relax and unwind on the covered patio, with fenced backyard, you will have the perfect place for get-togethers and BBQs! Enjoy Lake Mango anytime you want where you can launch your boat, kayaks, canoes and paddle boards! Only homeowners in this community have access to this lake! Very low HOA with no CDD!

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MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Lakeview Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: Lakeview Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9012007

* 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
Colson Elementary School Primary Regular 681 59 3
Mclane Middle School Middle Regular 756 61 2
Armwood High School High Regular 1,809 104 3

Colson Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 59
3
GreatSchools Rating

Mclane Middle School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 61
2
GreatSchools Rating

Armwood High School

  • Education Level: High
  • # of students: 1,809
  • # of teachers: 104
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$920
Property Tax -$337
Property Insurance -$139
HOA -$27
Property Management Fees -$129
CASH FLOW
$58

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

$1,610

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$24,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,619

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6103$1,6254$1,6955$1,850
$1,850
RENT COMPS ANALYSIS
  • 1631 Open Field Loop Brandon, FL 2
    • 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.91
    •  
  • 1612 Open Field Loop Brandon, FL 1
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1999
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 5205 Mango Fruit St Seffner, FL 3
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2004
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.92
    •  
  • 1630 Cresson Ridge Ln Brandon, FL 4
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2003
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 2108 Nuttall Oaks Pl Brandon, FL 5
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2011 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2011
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
PROPERTY LISTING DETAILS
Joe Wright, Jr
1.813.533.0099
Wright Davis Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3290810
Last Updated: 02/27/2021
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