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18120 Kara Ct Tampa, FL 33647

4 Beds 3 Baths 2,256 sqft Built 2001

$349,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $154.70
  • 3 Days on Market
  • MLS # : T3277219
  • Updated Date : 11/21/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,256 sqft
  • Baths : 3 full
Listing Agent

Century 21 Bill Nye Realty

Listing Agent's Description

Beautiful Heritage Isles home! NEW ROOF to be completed by 12-1-20, NEW exterior and interior paint 2020, NEW A/C 2020, NEW kitchen appliances 2020. This immaculate ONE STORY home features 4 bedroom, 3 baths, a 3 CAR GARAGE, and is located on a picturesque Golf Course/ Conservation LOT with no rear neighbors! Spacious split bedroom floor plan that is truly "move-in ready". The kitchen is open to the family room and features 42" cabinets, and a convenient recipe desk. All kitchen appliances are stainless! The master suite offers a sitting area with bay window, crown molding, walk in closets, double vanity, & garden tub/ separate shower. Additional bedrooms surround the common areas with the 4th bedroom tucked away for a private guest/ mother in law suite. Enjoy the gorgeous views of conservation and the second fairway while sitting on the extended lanai, adorned with brick pavers. Heritage Isles Country Club is a Golf Course community that offers a resort style pool with slide/ lap lanes, clubhouse/ Bayscape restaurant, impressive fitness center, park/ playground, basketball courts, beach volleyball courts and tennis courts. Close to shopping, Wiregrass Mall, Premium Outlet Mall, I 75, Moffitt Cancer Hospital, Advent Health and Flatwoods running/ biking trails. Call now for your showing. This home won't last!

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: 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
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,288
Property Tax -$481
Property Insurance -$167
HOA -$3
Property Management Fees -$80
CASH FLOW
-$18

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.

$349,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.57%

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$28,218

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,985

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$1,9954$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 18120 Kara Ct Tampa, FL 4
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 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
Melissa Hileman
1.813.833.6804
Century 21 Bill Nye Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277219
Last Updated: 11/21/2020
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