Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

18116 Kara Ct Tampa, FL 33647

4 Beds 3 Baths 2,268 sqft Built 2001

$389,700

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $171.83
  • 5 Days on Market
  • MLS # : T3270718
  • Updated Date : 10/30/2020 at 22:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,268 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Tampa Central

Listing Agent's Description

This is the spacious, updated open concept pool home you’ve been searching for! Drive through the beautiful golf course community, to this beautifully landscaped home on a quiet culdesac. Immaculate and well maintained, you’ll feel the wow factor as you enter and see the pool view, and the seclusion the beautiful trees offer - no rear neighbors! Warm and inviting wood floors and decor lead you into the updated kitchen, featuring 44” white cabinets, quartz countertops and new black stainless appliances, pendant lighting, under and above cabinet lighting and a back splash that pops. The split floor plan features a large master with sitting area, double walk in closets, access to the pool, and the large en-suite bathroom, featuring new granite counter tops and sinks, large walk in shower and garden tub. The 3 bedrooms and 2 baths on the opposite side are spacious and updated as well. Updated lighting and fans throughout, including the lanai which features Edison lights for those evening swims and entertaining. The large, clean 3 car garage has plenty of room and shelving. This home features lots and lots of storage - 3 linen closets, 3 pantries, large closets and plant shelves. Roof was updated in 2014; water heater in 2020 and AC in 2010. Security system, outdoor motion lighting in rear, baby gate for pool. Salt pool features Pebble Tech finish 2018 solar heating, variable speed motor and filter. This community has it all - highly rated golf course, restaurant with live music and trivia games and more. Easily accessible to shopping and restaurants.

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: Heritage Isles

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k353k

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

Neighborhood: Heritage Isles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Heritage Elementary School Primary Regular 657 51 4
Benito Middle School Middle Regular 1,053 63 7
Wharton High School High Regular 2,261 128 4

Heritage Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 51
4
GreatSchools Rating

Benito Middle School

  • Education Level: Middle
  • # of students: 1,053
  • # of teachers: 63
7
GreatSchools Rating

Wharton High School

  • Education Level: High
  • # of students: 2,261
  • # of teachers: 128
4
GreatSchools Rating
 

$350,730$428,670$389,700

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,438
Property Tax -$496
Property Insurance -$167
HOA -$3
Property Management Fees -$80
CASH FLOW
-$154

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.

$389,700

PROJECTED PRICE

$2,030

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$109,021

INVESTMENT

$109,021

Down Payment
$97,425
Rehab Estimate
$5,750
Closing Costs
$5,846

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,438

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,425
Loan Amount $292,275
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$18,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,996

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$1,9954$2,0305$2,100
$2,100
RENT COMPS ANALYSIS
  • 18116 Kara Ct Tampa, FL 4
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.90
    •  
  • 18207 Sandy Pointe Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 2002
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 10812 Breaking Rocks Dr Tampa, FL 2
    • 4 beds 2 baths ∙ 2,408 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,408 Sqft ∙ Built 2008
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 10822 Breaking Rocks Dr Tampa, FL 3
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2007
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 11103 Ancient Futures Dr Tampa, FL 5
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2007
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
Matthew Cooper, Llc
1.813.865.0700
Keller Williams Tampa Central
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3270718
Last Updated: 10/30/2020
BESbswy