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2338 Indian Key Dr Holiday, FL 34691

3 Beds 2 Baths 1,758 sqft Built 2003

$268,500

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $152.73
  • 5 Days on Market
  • MLS # : T3281006
  • Updated Date : 12/18/2020 at 09:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,758 sqft
  • Baths : 2 full
Listing Agent

Better Homes And Gardens Real Estate Ellie & Assoc

Listing Agent's Description

This is an adorable 3 bedroom, 2 bath & 2 car garage home with a bonus room. It has a lovely open floor plan with high ceilings and a separate formal dining room. Wood and tile flooring are throughout most of the home, with carpet in the bedrooms. The kitchen, with its beautiful wood cabinets and granite counter tops, overlooks the great room and has a large dinette area. The extended screened enclosed lanai is perfect for relaxing or entertaining and the yard is fenced in with white vinyl fencing. All appliances, including the washer and dryer and the living room entertainment system, stay with the home. The A/C was recently replaced in 2020, and the roof is in great original condition. This is one of Ryland Homes most popular models in this community. Key Vista is a gated community and has a beautiful clubhouse with a large heated pool and spa, fitness center, playground and tennis courts. This is a very active community with lots to do for people of all ages. The Gulf of Mexico is very close by and a nature park right around the corner for your enjoyment. No flood insurance is required. Call or text to schedule your appointment today. All room sizes to be verified by buyer.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Key Vista

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280kPrice in $46k285k

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

Neighborhood: Key Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6071758

* 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
Gulf Trace Elementary School Primary Regular 707 49 3
Paul R. Smith Middle School Middle Regular 1,030 69 3
Anclote High School High Regular 1,381 78 4

Gulf Trace Elementary School

  • Education Level: Primary
  • # of students: 707
  • # of teachers: 49
3
GreatSchools Rating

Paul R. Smith Middle School

  • Education Level: Middle
  • # of students: 1,030
  • # of teachers: 69
3
GreatSchools Rating

Anclote High School

  • Education Level: High
  • # of students: 1,381
  • # of teachers: 78
4
GreatSchools Rating
 

$241,650$295,350$268,500

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$991
Property Tax -$288
Property Insurance -$139
HOA -$130
Property Management Fees -$129
CASH FLOW
$174

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.

$268,500

PROJECTED PRICE

$1,850

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 7.8%
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$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$18k

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$76,903

INVESTMENT

$76,903

Down Payment
$67,125
Rehab Estimate
$5,750
Closing Costs
$4,028

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$991

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,125
Loan Amount $201,375
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$41,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6493$1,7254$1,8505$1,910
$1,910
RENT COMPS ANALYSIS
  • 2338 Indian Key Dr Holiday, FL 4
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
  • 2733 Narcissus Dr Holiday, FL 1
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1985
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 2746 Big Pine Dr Holiday, FL 2
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2001
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.94
    •  
  • 2549 Arrowpointe Dr Holiday, FL 3
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2003
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.98
    •  
  • 2511 Indian Key Dr Holiday, FL 5
    • 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2002
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ellie Lambert
1.813.690.0319
Better Homes And Gardens Real Estate Ellie & Assoc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281006
Last Updated: 12/18/2020
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