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1661 Palm Leaf Dr Brandon, FL 33510

3 Beds 2 Baths 1,314 sqft Built 1985

$219,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $166.67
  • 3 Days on Market
  • MLS # : T3286447
  • Updated Date : 01/23/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,314 sqft
  • Baths : 2 full
Listing Agent

1 Step Ahead Realty Group Llc

Listing Agent's Description

Why rent when you can buy for less. See this well maintained 3 bedroom, 2 bath home in Brandon. Home has an updated kitchen with new countertops and Stainless steel appliances. The home has tile throughout and ceiling fans in every room. Large living room with high cathedral ceilings. Spacious back yard which is completely fenced with a screened enclosure for entertainment. The roof was replaced in 2017. White Vinyl fence installed in 2019. A/C was replaced in 2016. No homeowners assocaiation Very close to shopping, restaurants, interstate I75, interstate I4, Ybor, downtown, centrally located to commute anywhere in the Tampa Bay area.

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: 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
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$761
Property Tax -$279
Property Insurance -$113
Property Management Fees -$129
CASH FLOW
$49

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.

$219,000

PROJECTED PRICE

$1,330

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$761

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$21,034

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,337

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3303$1,4954$1,5255$1,549
$1,549
RENT COMPS ANALYSIS
  • 1661 Palm Leaf Dr Brandon, FL 2
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.01
    •  
  • 1633 Crossridge Dr Brandon, FL 1
    • 3 beds 2 baths ∙ 1,164 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,164 Sqft ∙ Built 1985
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.07
    •  
  • 1708 Lake Crest Ave Brandon, FL 3
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1975
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.95
    •  
  • 1663 Palm Leaf Dr Brandon, FL 4
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1985
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.07
    •  
  • 1604 Dusty Rose Ln Brandon, FL 5
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1985
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.98
    •  
PROPERTY LISTING DETAILS
Raquel Zapata
1.813.294.7264
1 Step Ahead Realty Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286447
Last Updated: 01/23/2021
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