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2227 Tioga Dr Land O Lakes, FL 34639

3 Beds 2 Baths 2,044 sqft Built 1991

INVESTimate

$269,900

List Price

$1,590

$1,431 - $1,749

Rent Est.

$293,057  ( +8.58%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $132.05
  • 4 Days on Market
  • MLS # : T3261006
  • Updated Date : 08/24/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,044 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage

Listing Agent's Description

Don't miss your chance to own this beautiful, 3 bedroom, 2 bath home nestled in the quiet neighborhood of Twin Lakes. Double doors leading to a spacious living room and separate dining room with a kitchen perfect for entertaining overlooking the family room space and screened porch area. The kitchen was recently updated with stone counters, double wall oven, and other custom upgrades. Reduced energy bill with SOLAR PANELS makes this energy-efficient home a dream! Located in the heart of Land O' Lakes and won't last long. Desirable Twin Lakes subdivision with NO CDD'S and LOW HOA, community pool, picnic area, and playground. Conveniently located to restaurants, and shopping, just minutes from I 75, Wire Grass Mall, and the new Tampa Premium Outlets, this home is a must-see!

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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: Twin Lake

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k345k

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

Neighborhood: Twin Lake

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
Denham Oaks Elementary School Primary Regular 703 53 7
Cypress Creek Middle High School Middle Regular NA
Cypress Creek Middle High School High Regular NA

Denham Oaks Elementary School

  • Education Level: Primary
  • # of students: 703
  • # of teachers: 53
7
GreatSchools Rating

Cypress Creek Middle High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Cypress Creek Middle High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

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

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$996
Property Tax -$299
Property Insurance -$155
HOA -$56
Property Management Fees -$80
CASH FLOW
$5

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.

$269,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.58%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$23,894

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
  • $0.78

    LIST RENT PER SQFT
  • $1,763

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6503$1,7454$1,7495$1,775
$1,775
RENT COMPS ANALYSIS
  • 2227 Tioga Dr Land O Lakes, 1
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.78
    •  
  • 24653 Laurel Ridge Dr Lutz, 2
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2000
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 24424 Painter Dr Land O Lakes, 3
    • 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 1993
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.85
    •  
  • 24329 Twin Lake Dr Land O Lakes, 4
    • 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 1992
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.86
    •  
  • 2342 Tioga Dr Land O Lakes, 5
    • 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 1992
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.87
    •  
PROPERTY LISTING DETAILS
Yeni Leyva
1.772.626.8832
Offerpad Brokerage
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3261006
Last Updated: 08/24/2020
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