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1700 Gardner Dr Lutz, FL 33559

4 Beds 2 Baths 1,957 sqft Built 1987

INVESTimate

$270,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$291,519  ( +7.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $137.97
  • 6 Days on Market
  • MLS # : T3260384
  • Updated Date : 08/21/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,957 sqft
  • Baths : 2 full
Listing Agent

54 Realty Llc

Listing Agent's Description

WOW!!! This 4 bedroom, with office, 2 bath home is located close to everything.  It's minutes away from Tampa Premium Outlets, restaurants, and I-75.   Located in a neighborhood with a community pool, playground, and clubhouse.  Low HOA fee and No CDD fee.   This home features a large master suite, huge screen enclosed patio for entertainment, and an oversized fenced yard.

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: Carpenters Run

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k365k

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

Neighborhood: Carpenters Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8832036

* 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
Denham Oaks Elementary School Primary Regular 703 53 7
Cypress Creek Middle High School Middle Regular NA
Cypress Creek Middle High School High Regular NA

Denham Oaks Elementary School

  • Education Level: Primary
  • # of students: 703
  • # of teachers: 53
7
GreatSchools Rating

Cypress Creek Middle High School

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

Cypress Creek Middle High School

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

$243,000$297,000$270,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

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$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$996
Property Tax -$301
Property Insurance -$150
HOA -$48
Property Management Fees -$80
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.

$270,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.97%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$31,940

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,781

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6954$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 1700 Gardner Dr Lutz, 2
    • 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 24653 Laurel Ridge Dr Lutz, 1
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2000
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 24940 Panacea Ct Lutz, 3
    • 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 2006
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 24909 Portofino Dr Lutz, 4
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2005
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 1220 Avonwood Ct Lutz, 5
    • 5 beds 2 baths ∙ 1,838 Sqft ∙ Built 2002 5 beds 2 baths ∙ 1,838 Sqft ∙ Built 2002
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Michael Peeples
1.813.417.8143
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260384
Last Updated: 08/21/2020
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