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17834 Morninghigh Dr Lutz, FL 33549

3 Beds 2 Baths 1,505 sqft Built 1979

$250,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $166.11
  • 4 Days on Market
  • MLS # : U8103725
  • Updated Date : 11/05/2020 at 22:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,505 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

If you enjoy spending time outside, this 3 bedroom, 2 bath home is the perfect place for you! The interior sits on attractive Lifeproof vinyl plank flooring throughout and features a split floorplan with a living room and kitchen combo, quaint fireplace, large bay windows, stainless steel kitchen appliances and an indoor laundry room with ample storage space. The master bedroom boasts two closets and an updated bathroom with dual sinks and a tiled walk-in shower. Two additional bedrooms and a second bathroom complete the interior accommodations. A large covered back patio stares out at an expansive wooded backyard with a decorative stone fire pit and space to store a boat or RV. Additionally, the home is equipped with a 2 car garage and a new roof (2019). There are no HOA fees to worry about. Make this your new address today!

SEE MORE

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: Barrington

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k365k

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

Neighborhood: Barrington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052036

* 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
Maniscalco Elementary School Primary Regular 524 45 7
Liberty Middle School Middle Regular 1,202 68 6
Freedom High School High Regular 2,069 103 4

Maniscalco Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 45
7
GreatSchools Rating

Liberty Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 68
6
GreatSchools Rating

Freedom High School

  • Education Level: High
  • # of students: 2,069
  • # of teachers: 103
4
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$922
Property Tax -$316
Property Insurance -$124
Property Management Fees -$80
CASH FLOW
$48

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.

$250,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$27,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,500

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4903$1,4994$1,550
$1,550
RENT COMPS ANALYSIS
  • 17834 Morninghigh Dr Lutz, FL 2
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.99
    •  
  • 17318 Lynnette Dr Lutz, FL 1
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1974
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.05
    •  
  • 1921 Cedarbrooke Dr Lutz, FL 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1982
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.01
    •  
  • 17839 Sunrise Dr Lutz, FL 4
    • 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 1977
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jeffrey Borham, Pa
1.509.929.5180
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8103725
Last Updated: 11/05/2020
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