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17421 New Cross Cir Lithia, FL 33547

4 Beds 3 Baths 2,361 sqft Built 2011

$329,900

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $139.73
  • 4 Days on Market
  • MLS # : T3273560
  • Updated Date : 10/31/2020 at 20:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,361 sqft
  • Baths : 3 full
Listing Agent

Carter Company Realtors

Listing Agent's Description

One or more photo(s) has been virtually staged. Channing Park - This beautiful home offers an open concept floor plan with 4 bedrooms, 3 bathrooms and a 2 car garage. The formal living room, dining room and front entry hallway create a wide open space with looming archways, coiffured ceilings and plenty of windows. Brand new luxury wood plank vinyl & fresh paint on every wall carry through to wonderfully large kitchen with breakfast area. Wood cabinetry, stainless steel and solid surface 'corian' countertops with a center cook island make for the perfect space to create meals and lasting memories. Triple track sliding glass doors stack & pocket out of the way in the family room. This instantly opens this already spacious room to include the back screened lanai, creating an outdoor space that gives plenty of room for holiday gatherings. The 3-way split floor plan puts the master suite apart from the rest of the bedrooms. New wood plank vinyl flooring along with coiffured ceiling, 2 walk in closets, double vanity, walk in glass shower and garden tub. The secondary bedrooms have new carpet and ceiling fans. One of them is in it's own small wing with a full bathroom- perfect for guests or quiet space. The exterior paint & interior paint is fresh along with new flooring and carpet. New lighting, new plumb fixtures, custom back splash and carpentry too. This is home is move in ready and open for a quick closing. Channing Park offers a community pool, parks & playgrounds. Drive through anytime and you'll find many neighbors walking their dogs, biking or jogging along the streets. Top Shelf schools too! It's good to be home.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Fishhawk

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k481k

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

Neighborhood: Fishhawk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9052692

* 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
Stowers Elementary School Primary Regular 923 66 9
Barrington Middle School Middle Regular 1,227 70 6
Newsome High School High Regular 2,469 125 9

Stowers Elementary School

  • Education Level: Primary
  • # of students: 923
  • # of teachers: 66
9
GreatSchools Rating

Barrington Middle School

  • Education Level: Middle
  • # of students: 1,227
  • # of teachers: 70
6
GreatSchools Rating

Newsome High School

  • Education Level: High
  • # of students: 2,469
  • # of teachers: 125
9
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,217
Property Tax -$557
Property Insurance -$174
HOA -$104
Property Management Fees -$80
CASH FLOW
$97

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$329,900

PROJECTED PRICE

$2,230

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.57%
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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$36,919

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,219

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1753$2,2304$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 17421 New Cross Cir Lithia, FL 3
    • 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.94
    •  
  • 17451 New Cross Cir Lithia, FL 1
    • 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2010
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
  • 17452 New Cross Cir Lithia, FL 2
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2010
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.93
    •  
  • 11010 Wembley Landing Dr Lithia, FL 4
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2011
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 11406 Thames Fare Way Lithia, FL 5
    • 4 beds 3 baths ∙ 2,463 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,463 Sqft ∙ Built 2014
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.95
    •  
PROPERTY LISTING DETAILS
Trish Carter
1.813.661.4700
Carter Company Realtors
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273560
Last Updated: 10/31/2020
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