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1649 Lynsfield Ct Lutz, FL 33549

4 Beds 3 Baths 2,840 sqft Built 1993

$395,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $139.08
  • 3 Days on Market
  • MLS # : T3277776
  • Updated Date : 11/28/2020 at 23:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,840 sqft
  • Baths : 3 full
Listing Agent

Re/max Capital Realty

Listing Agent's Description

Spacious and thoughtfully designed floor plan offering much flexibility for today's lifestyle. This 4 bedroom pool home has an office and bonus room, perfect for home schooling or a secondary office. This floor plan is also conducive to incorporating an in-law suite with private sitting area. Cul-de-sac location on 1/3 acre pie-shaped lot with large fenced yard. NEW roof in 2019. NEW pool pump in 2020. Newer: hot water heater, dishwasher and a/c unit. Desirable features include wood-burning fireplace, high ceilings, custom barn doors and loads of natural sunlight. The kitchen has upgraded cabinetry, quartz counters, stainless steel appliances, walk-in pantry and breakfast nook. The master retreat has gleaming wood flooring, walk-in closet and updated bathroom with garden tub, separate shower, double vanity with granite counters. Secondary bathrooms have been updated. No CDD fee and low HOA fee!

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: Willow Bend

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k367k

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

Neighborhood: Willow Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9052224

* 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
Lake Myrtle Elementary School Primary Regular 665 48 6
Charles S. Rushe Middle School Middle Regular 1,325 74 7
Sunlake High School High Regular 1,740 95 8

Lake Myrtle Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 48
6
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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,457
Property Tax -$440
Property Insurance -$202
HOA -$48
Property Management Fees -$80
CASH FLOW
-$57

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.

$395,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.5%
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

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$28,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,215

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0953$2,1704$2,1755$2,499
$2,499
RENT COMPS ANALYSIS
  • 1649 Lynsfield Ct Lutz, FL 3
    • 4 beds 4 baths ∙ 2,840 Sqft ∙ Built 1993 4 beds 4 baths ∙ 2,840 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.76
    •  
  • 22625 Eagles Watch Dr Land O Lakes, FL 1
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2003
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 22611 Royal Ridge Ct #2 Lutz, FL 2
    • 4 beds 4 baths ∙ 2,835 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,835 Sqft ∙ Built 1999
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.74
    •  
  • 22647 Cliffside Way Land O Lakes, FL 4
    • 5 beds 3 baths ∙ 2,646 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,646 Sqft ∙ Built 2002
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.82
    •  
  • 23331 Key Largo Loop Land O Lakes, FL 5
    • 4 beds 4 baths ∙ 3,077 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,077 Sqft ∙ Built 2004
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.81
    •  
PROPERTY LISTING DETAILS
Amani Warden
1.813.731.7673
Re/max Capital Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277776
Last Updated: 11/28/2020
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