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18542 New London Ave Land O Lakes, FL 34638

4 Beds 2 Baths 2,147 sqft Built 2010

$275,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $128.09
  • 3 Days on Market
  • MLS # : T3277145
  • Updated Date : 11/21/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,147 sqft
  • Baths : 2 full
Listing Agent

Robert Slack Llc

Listing Agent's Description

A CHARMING MUST SEE 4 bedroom 2 bath home build by M/I Homes in Asbel Estates. This community has a LOW HOA and NO CDD. The kitchen is perfect for the chef in the family with tons of cabinet and granite counter space, overlooking the family room great for entertaining guests. Formal dining room and Living Room is in the front entry . The master bedroom allows for peace and tranquility with tons of natural light pouring in, with your own private master bath, with glass shower, garden tub, dual sinks and a large walkin closet. This home also has a split floor plan. Tall ceilings in the Family Room that looks out to the backyard. The backyard has a gorgeous view of the conservation area. Welcome Home!

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: Asbel Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k489k

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

Neighborhood: Asbel Estates

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
 

$247,500$302,500$275,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,015
Property Tax -$312
Property Insurance -$161
HOA -$51
Property Management Fees -$80
CASH FLOW
$71

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.

$275,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.8%
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$16k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$31,816

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
  • $1,712

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6903$1,7004$1,8005$1,915
$1,915
RENT COMPS ANALYSIS
  • 18542 New London Ave Land O Lakes, FL 2
    • 4 beds 2 baths ∙ 2,147 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,147 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.79
    •  
  • 18244 Cypress Bay Pkwy Land O Lakes, FL 1
    • 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 2007
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 9346 Black Thorn Loop Land O Lakes, FL 3
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 2005
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 10028 Perthshire Cir Land O Lakes, FL 4
    • 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
    •  
  • 9829 Jasmine Brook Cir Land O Lakes, FL 5
    • 5 beds 3 baths ∙ 2,331 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,331 Sqft ∙ Built 2006
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,915
    • $0.82
    •  
PROPERTY LISTING DETAILS
Kristie Dimarakis
1.813.523.3441
Robert Slack Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277145
Last Updated: 11/21/2020
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