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16401 Norwood Dr Tampa, FL 33624

4 Beds 2 Baths 2,115 sqft Built 1981

$359,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $169.74
  • 2 Days on Market
  • MLS # : T3285442
  • Updated Date : 01/23/2021 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,115 sqft
  • Baths : 2 full
Listing Agent

Century 21 Affiliated

Listing Agent's Description

Enjoy GOLF COURSE VIEWS! This 4/2 Golf Course home has a wood burning fireplace and large screened lanai in highly sought-after Northdale. This home offers 2,115 sf of living space, NEW 50 YEAR Dimensional Roof with Transferable Warranty (2019), Newer AC and HEAT PUMP, freshly painted exterior & chimney. Kitchen has tile flooring and NEWER STAINLESS REFRIGERATOR. Kitchen is open to breakfast room which has sliders that bring in lots of natural light. Kitchen flows to the family room producing a large open floor plan. Family room has vaulted ceiling, ceiling fan and wood burning fireplace. Kitchen has pantry and plenty of cabinets for storage space. Split floor plan separates master bedroom, living room and dining room from family room and other bedrooms providing plenty of space for privacy, dining, working or home schooling. Master Bedroom includes ensuite bathroom, ceiling fan, lighted closet and sliding doors that lead out to the large screened lanai and GOLF COURSE. Master bathroom has step down shower and dual vanities. Guest bedrooms are spacious in size and have large windows. Two bedrooms have golf course views and the 4th bedroom can easily be used as an office or bonus room with large windows, ceiling fan, and sliders that offer spectacular views of the 13th hole of the golf course. All bedroom closets are lighted. Guest bathroom has a tub and long vanity with single sink. Very large tiled laundry room includes cabinets, closet, sink, NEWER WASHER and a dryer. Laundry room can also serve as a mud room or extra storage space as it can be entered directly from the 2 car garage. The property features a CIRCULAR DRIVEWAY for easy access and departure. Northdale has no CDD or HOA. Membership in the community association is optional (www.northdale.org). Northdale is ideally located near golf, tennis, shops, restaurants, recreational facilities, trails, Veteran’s, Suncoast and Interstates.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
Claywell Elementary School Primary Regular 781 60 6
Hill Middle School Middle Regular 870 52 6
Gaither High School High Regular 2,090 117 5

Claywell Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 60
6
GreatSchools Rating

Hill Middle School

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

Gaither High School

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

$323,100$394,900$359,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,247
Property Tax -$441
Property Insurance -$158
Property Management Fees -$129
CASH FLOW
$74

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.

$359,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.57%

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$1.0M$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$33,853

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,057

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8253$1,9954$1,9955$2,050
$2,050
RENT COMPS ANALYSIS
  • 16401 Norwood Dr Tampa, FL 5
    • 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.97
    •  
  • 4212 Autumn Leaves Dr Tampa, FL 1
    • 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 1978
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 16133 Gardendale Dr Tampa, FL 2
    • 4 beds 3 baths ∙ 1,934 Sqft ∙ Built 1982 4 beds 3 baths ∙ 1,934 Sqft ∙ Built 1982
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.94
    •  
  • 4729 Windflower Cir Tampa, FL 3
    • 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1986
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.03
    •  
  • 4706 Fox Hunt Dr Tampa, FL 4
    • 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1982
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jan Marshburn
1.813.285.3199
Century 21 Affiliated
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3285442
Last Updated: 01/23/2021
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