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18447 Red Willow Way Land O Lakes, FL 34638

3 Beds 2 Baths 2,150 sqft Built 2010

INVESTimate

$259,900

List Price

$1,690

$1,521 - $1,859

Rent Est.

$274,246  ( +5.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $120.88
  • 5 Days on Market
  • MLS # : T3260958
  • Updated Date : 08/25/2020 at 07:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,150 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

WELCOME HOME! Open Concept w/ Split Floor Plan offers 3 Bedrooms / 2 Bathrooms / 2 Car Garage. Kitchen features granite countertops, breakfast bar, Eat-in-Area w/ window seat, tile backsplash, stainless steel appliances, & 42' wood cabinets. Elegant Formal Dining has Arch w/ Column and offers separation for those special occasions. Spacious Family Room is perfect for entertaining family & friends. Master Suite has double tray ceiling & "HUGE" Walk-in-Closet | En Suite Bathroom has granite vanity w/ dual sinks, walk-in shower, & garden tub. LARGE 2nd & 3rd Bedrooms share the 2nd Bathroom, which has granite vanity. A/C system 2016 - Roof 2010. Asbel Creek community amenities include basketball courts, dog park, playground, & volleyball. Low HOA | NO CDD! | Nearby A rated schools, pre-schools, beaches, golf courses, shopping, restaurants, and much more! Easy access onto US 41, SR 52, SR 54, Suncoast Expressway, I-75, 275, Downtown Tampa & Tampa Airport.

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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: Asbel Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k391k

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

Neighborhood: Asbel Creek

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
Connerton Elementary School Primary Regular 973 73 4
Pine View Middle School Middle Regular 924 58 6
Land O' Lakes High School High Magnet 1,700 100 8

Connerton Elementary School

  • Education Level: Primary
  • # of students: 973
  • # of teachers: 73
4
GreatSchools Rating

Pine View Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 58
6
GreatSchools Rating

Land O' Lakes High School

  • Education Level: High
  • # of students: 1,700
  • # of teachers: 100
8
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

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$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$959
Property Tax -$295
Property Insurance -$161
HOA -$51
Property Management Fees -$80
CASH FLOW
$144

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.

$259,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.52%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$39,010

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6904$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 18447 Red Willow Way Land O Lakes, 3
    • 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.79
    •  
  • 18130 Cypress Bay Pkwy Land O Lakes, 1
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2008
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 18948 Ticino Ln Land O Lakes, 2
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2004
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 9815 Edmonton Dr Land O Lakes, 4
    • 4 beds 3 baths ∙ 2,058 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,058 Sqft ∙ Built 2007
    LEASED 04/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 10028 Perthshire Cir Land O Lakes, 5
    • 4 beds 4 baths ∙ 2,218 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,218 Sqft ∙ Built 2006
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
PROPERTY LISTING DETAILS
Ryan Kessell
1.813.786.4252
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260958
Last Updated: 08/25/2020
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