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

22303 Willow Lakes Dr Lutz, FL 33549

4 Beds 2 Baths 2,293 sqft Built 1998

$349,900

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $152.59
  • 3 Days on Market
  • MLS # : U8112451
  • Updated Date : 02/06/2021 at 17:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,293 sqft
  • Baths : 2 full
Listing Agent

Key Lime Real Estate Inc

Listing Agent's Description

BEAUTIFUL POOL HOME WITH 4 BEDROOMS, 2 BATHROOMS, ENCLOSED PORCH PLUS an OFFICE! This fantastic home boasts over 2200 square feet of new flooring. Your new home is located in the great, quiet community of Willow Bend. Fully fenced backyard that backs up to a conservation lot full of wildlife. The split floor plan with the kitchen overlooking your porch and screened in heated pool allows the whole family to have their own space! The master bedroom is large enough to fit a king size bed and additional furniture. Plenty of room in the master closet with new built in shelves, measuring at 6x11 you will have more than enough space for all of your clothing, shoes and much more. Both bathrooms have new low flush toilets with the master bathroom updates being less than 3 years old. It features beautiful palm trees, and great landscaping. Added bonus is the new solar panels that has currently dropped the Seller's electric bill by $120!!! You will love spending time here and entertaining by your pool. At this price, this one will sell quickly. Make an appointment to see your future home today before it’s gone.

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: Willow Bend

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k367k

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

Neighborhood: Willow Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9052224

* 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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,215
Property Tax -$390
Property Insurance -$170
HOA -$42
Property Management Fees -$129
CASH FLOW
-$16

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.

$349,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.5%
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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$24,203

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,110

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,735
1$1,7352$1,7953$1,9304$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 22303 Willow Lakes Dr Lutz, FL 3
    • 4 beds 2 baths ∙ 2,293 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,293 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.84
    •  
  • 1637 Glen Oak Ln Lutz, FL 1
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1996
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.82
    •  
  • 1149 Pristine Pl Lutz, FL 2
    • 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 1999
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 22610 Magnolia Trace Blvd Lutz, FL 4
    • 4 beds 2 baths ∙ 2,285 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,285 Sqft ∙ Built 1998
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.98
    •  
  • 1239 Primwood Ln Lutz, FL 5
    • 4 beds 2 baths ∙ 2,310 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,310 Sqft ∙ Built 1998
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.99
    •  
PROPERTY LISTING DETAILS
Toni Gulino
1.813.230.2254
Key Lime Real Estate Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8112451
Last Updated: 02/06/2021
BESbswy