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

22635 Roderick Dr Land O Lakes, FL 34639

4 Beds 3 Baths 2,169 sqft Built 2002

$295,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $136.01
  • 8 Days on Market
  • MLS # : U8102610
  • Updated Date : 10/28/2020 at 14:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,169 sqft
  • Baths : 3 full
Listing Agent

Russell Adams Realty Inc

Listing Agent's Description

This home is located in A wonderful community with easy access to Interstate 75, and the Suncoast Parkway. A spacious tiled foyer greets you as you enter the double front doors. To your left is a bathroom, bedroom, and garage access. To your right are two more bedrooms and another bathroom. As you walk further into the home your formal living area is on to the left & formal dining to your right. Next comes the huge living/kitchen area with an eating area. The fenced in back yard has banana trees, sugarcane, papaya, & an avocado tree that's producing!

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: Sable Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k345k

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

Neighborhood: Sable Ridge

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
Pine View Elementary School Primary Regular 653 48 6
Pine View Middle School Middle Regular 924 58 6
Land O' Lakes High School High Magnet 1,700 100 8

Pine View Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 48
6
GreatSchools Rating

Pine View Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 58
6
GreatSchools Rating

Land O' Lakes High School

  • Education Level: High
  • # of students: 1,700
  • # of teachers: 100
8
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,088
Property Tax -$326
Property Insurance -$163
HOA -$54
Property Management Fees -$80
CASH FLOW
$228

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.

$295,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.2%
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$20k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$51,697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,898

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7503$1,8004$1,8255$1,940
$1,940
RENT COMPS ANALYSIS
  • 22635 Roderick Dr Land O Lakes, FL 5
    • 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.89
    •  
  • 22728 Roderick Dr Land O Lakes, FL 1
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2001
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 4203 Wharton Way Land O Lakes, FL 2
    • 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2002
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 22939 Sills Loop Land O Lakes, FL 3
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1998
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 22814 Sills Loop Land O Lakes, FL 4
    • 4 beds 2 baths ∙ 2,009 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,009 Sqft ∙ Built 1998
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.91
    •  
PROPERTY LISTING DETAILS
Stacy Robinson
1.813.842.3077
Russell Adams Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8102610
Last Updated: 10/28/2020
BESbswy