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21637 Southwood Dr Lutz, FL 33549

4 Beds 2 Baths 1,824 sqft Built 1976

$275,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $150.77
  • 4 Days on Market
  • MLS # : T3282680
  • Updated Date : 12/31/2020 at 19:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,824 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Tampa Prop.

Listing Agent's Description

(SOLD AS IS)This single family home is located in the Foxwood Subdivision of Lutz, on an over sized corner lot with concrete block stucco exterior walls, shingle on gable or hip roof and a screened in concrete pool with Gunite/Concrete deck. Central Air & Heat. Living room has a wood burning fire place. Home also features ceramic tile flooring in kitchen, hallways and baths, with formica countertops. Kitchen has dual sink with disposal, backsplash and painted wood cabinets. Includes Refrigerator, dishwasher, conventional oven. Indoor Utility room includes washer/dryer and water heater. Bedrooms all have spacious closet space with sliding or folding doors. Bath shower has fixtures with tiled floor and partial title covered walls. Formal Dining room and family room. Roof replacement in April 2011. 1- Car Carport in back, Two concrete driveways one in front and one in back . Storage shed for additional storage space. Flood Zone X, with a Fire Hydrant in front of the property. Short drive to shopping, dinning and Florida's Stunning Beaches, Exciting Family Fun Theme Parks and Wonderful weather. Who wouldn't want to live here? Call now to schedule a showing. (SOLD AS IS). Home may need some updating and TLC. Buyer to verify all listing and public records information before purchasing property. Monthly Income Opportunities from In Law Suite.

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MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Foxwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $70k365k

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

Neighborhood: Foxwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8342036

* 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
Lake Myrtle Elementary School Primary Regular 665 48 6
Charles S. Rushe Middle School Middle Regular 1,325 74 7
Sunlake High School High Regular 1,740 95 8

Lake Myrtle Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 48
6
GreatSchools Rating

Charles S. Rushe Middle School

  • Education Level: Middle
  • # of students: 1,325
  • # of teachers: 74
7
GreatSchools Rating

Sunlake High School

  • Education Level: High
  • # of students: 1,740
  • # of teachers: 95
8
GreatSchools Rating
 

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

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,015
Property Tax -$307
Property Insurance -$142
Property Management Fees -$129
CASH FLOW
$77

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

$1,670

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.9%
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$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

8.17

YEARS SAVED

$33,947

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
  • $0.92

    LIST RENT PER SQFT
  • $1,532

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,6703$1,735
$1,735
RENT COMPS ANALYSIS
  • 21637 Southwood Dr Lutz, FL 2
    • 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.92
    •  
  • 1151 Westwood Dr Lutz, FL 1
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1979
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 1637 Glen Oak Ln Lutz, FL 3
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1996
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.82
    •  
PROPERTY LISTING DETAILS
Darrell Gaulden
1.813.264.7754
Keller Williams Tampa Prop.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282680
Last Updated: 12/31/2020
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