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2018 Sycamore Ln Plant City, FL 33563

3 Beds 2 Baths 1,888 sqft Built 1984

$264,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $140.31
  • 5 Days on Market
  • MLS # : T3273452
  • Updated Date : 10/30/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,888 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This Plant City home is in GREAT shape & ready for its new owner! This 3-bedroom, 2 bath home, has plenty of spacious room & character. The home is located on a quiet street in the Walden Lake community. This location is perfect & beautiful, setting next door to the community park & pool that is literally 100 feet away. The backyard is set up perfectly for that Florida living, with an enormous screened back porch with ceiling fans & a separate 12x12 outside paved area for the BBQ grill & sunning. Inside you find the tile matches throughout the house & the fireplace is stunning by itself. The rooms are spacious with plenty of closet space. The garage is located next to the kitchen for the rainy days with groceries. The house received a new roof & paint in 2018. Don’t miss this one, it’ll be gone quick!

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: Walden Lake

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $79k359k

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

Neighborhood: Walden Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8122007

* 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
Walden Lake Elementary School Primary Regular 888 60 6
Tomlin Middle School Middle Regular 1,608 104 4
Plant City High School High Regular 2,219 122 5

Walden Lake Elementary School

  • Education Level: Primary
  • # of students: 888
  • # of teachers: 60
6
GreatSchools Rating

Tomlin Middle School

  • Education Level: Middle
  • # of students: 1,608
  • # of teachers: 104
4
GreatSchools Rating

Plant City High School

  • Education Level: High
  • # of students: 2,219
  • # of teachers: 122
5
GreatSchools Rating
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$977
Property Tax -$284
Property Insurance -$146
HOA -$21
Property Management Fees -$80
CASH FLOW
$82

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.

$264,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.3%
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$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$32,789

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,600

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,5953$1,5994$1,6705$1,695
$1,695
RENT COMPS ANALYSIS
  • 2018 Sycamore Ln Plant City, FL 1
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.84
    •  
  • 1605 S Golfview Dr Plant City, FL 2
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1986
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 1310 Mendonsa Rd Plant City, FL 3
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1988
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.88
    •  
  • 1701 Brookstone Way Plant City, FL 4
    • 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1999
    property image
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.88
    •  
  • 2402 Sprucewood Ln Plant City, FL 5
    • 4 beds 2 baths ∙ 2,051 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,051 Sqft ∙ Built 1981
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
PROPERTY LISTING DETAILS
Matt Carter
1.813.754.3586
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273452
Last Updated: 10/30/2020
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