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

2019 Elk Spring Dr Brandon, FL 33511

3 Beds 2 Baths 1,980 sqft Built 1992

INVESTimate

$235,000

List Price

$1,670

$1,503 - $1,837

Rent Est.

$255,092  ( +8.55%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $118.69
  • 3 Days on Market
  • MLS # : T3261206
  • Updated Date : 08/25/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,980 sqft
  • Baths : 2 full
Listing Agent

All About Realty, Inc.

Listing Agent's Description

Priced Right! Formal Living and Dining Room, Family room view from kitchen. Large Pool with pond view. Split bedroom plan. Master bedroom has walkin closet, separate tub and shower.

SEE MORE

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: Sterling Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k254k

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

Neighborhood: Sterling Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781624

* 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
Symmes Elementary School Primary Regular 651 49 4
Mclane Middle School Middle Regular 756 61 2
Spoto High School High Regular 1,449 88 3

Symmes Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 49
4
GreatSchools Rating

Mclane Middle School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 61
2
GreatSchools Rating

Spoto High School

  • Education Level: High
  • # of students: 1,449
  • # of teachers: 88
3
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$867
Property Tax -$336
Property Insurance -$151
HOA -$43
Property Management Fees -$80
CASH FLOW
$192

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.

$235,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 8.55%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$40,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,6753$1,6994$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 2019 Elk Spring Dr Brandon, 1
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.84
    •  
  • 1605 Elk Spring Dr Brandon, 2
    • 3 beds 3 baths ∙ 2,043 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,043 Sqft ∙ Built 1993
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.82
    •  
  • 1415 Woodstork Dr Brandon, 3
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 1985
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.87
    •  
  • 1914 White Cedar Way Brandon, 4
    • 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 1986
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 1823 Coyote Place Brandon, 5
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1991
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Cyndee Jacobs, Pa
1.813.767.5858
All About Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3261206
Last Updated: 08/25/2020
BESbswy