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22702 Newfield Ct Land O Lakes, FL 34639

4 Beds 2 Baths 1,198 sqft Built 1982

$225,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $187.81
  • 2 Days on Market
  • MLS # : T3317101
  • Updated Date : 07/13/2021 at 15:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,198 sqft
  • Baths : 2 full
Listing Agent

Realty Hub

Listing Agent's Description

Fantastic location right off HW 54 moments drive to I75 or Dale Mabry, dinning, Publix, Premium Outlets etc. This property is move in ready as it's been well maintained and updated. corian countertops in the kitchen, stainless steel appliances, new interior doors, new patio roof, nest thermostat, AC replaced 3 years ago, roof is 10 years old. The potential to produce positive rental income is there or move in ready for owner occupied. Washer, dryer and refrigerator do not convey but can be included with request along side of a strong offer.

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MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Lake Padgett South

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $64k345k

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

Neighborhood: Lake Padgett South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8381763

* 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$782
Property Tax -$226
Property Insurance -$106
Property Management Fees -$129
CASH FLOW
$98

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.

$225,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$26,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,174

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3403$1,350
$1,350
RENT COMPS ANALYSIS
  • 22702 Newfield Ct Land O Lakes, FL 2
    • 4 beds 2 baths ∙ 1,198 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,198 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.12
    •  
  • 22748 Penny Loop Land O Lakes, FL 1
    • 4 beds 2 baths ∙ 1,305 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,305 Sqft ∙ Built 1984
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.96
    •  
  • 21513 Northwood Dr Lutz, FL 3
    • 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1978
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
PROPERTY LISTING DETAILS
Briana Almerico
1.813.610.7282
Realty Hub
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3317101
Last Updated: 07/13/2021
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