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23956 Terracina Ct Land O Lakes, FL 34639

4 Beds 3 Baths 2,853 sqft Built 2014

$380,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $133.19
  • 4 Days on Market
  • MLS # : U8105219
  • Updated Date : 11/20/2020 at 21:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,853 sqft
  • Baths : 2 full , 1 half
Listing Agent

Florida Luxury Realty, Inc.

Listing Agent's Description

This home is located in the highly desirable community of Terra Bella in one of the fastest growing counties in Florida. The home sits on a cul-de-sac with a gorgeous side conservation view. The landscaping is meticulously maintained and the exterior was just freshly painted! The back yard is fenced with plenty of room for a pool. As you enter the home there is a large formal living/dining area perfect for entertaining. The kitchen has stunning wood cabinets, stainless steel appliances, granite countertops, a spacious island and a large pantry. The family room blends seamlessly with the kitchen and has triple sliders to the screened in patio. The large first floor owner’s suite has a massive walk in closet! The owner’s bathroom has brand new tub and shower tile along with new shower glass. A half bathroom and laundry room with cabinets finish out the downstairs. Upstairs you will find an enormous bonus room perfect for a play area or media room. Down the hall are 3 spacious bedrooms along with a full bath with dual sinks and separate area for the tub/shower. All bathrooms have wood cabinets and granite countertops. All carpet in the bedrooms is brand new! Terra Bella has a gorgeous community pool and is in a prime location near I-75, US 41 and the Suncoast Parkway. Shopping includes The Shops at Wiregrass and Tampa Premium Outlets along with countless restaurants and entertainment including the newly opened Main Event and the Flying Squirrel. This amazing home is a Florida lifestyle dream!

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

Zip Code: 34639

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k345k

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

Zip Code: 34639

ZipNIR 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
 

$342,000$418,000$380,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,402
Property Tax -$563
Property Insurance -$202
HOA -$56
Property Management Fees -$80
CASH FLOW
-$23

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.

$380,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.0%
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$1.2M

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$29,140

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,382

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,2804$2,3005$2,499
$2,499
RENT COMPS ANALYSIS
  • 23956 Terracina Ct Land O Lakes, FL 3
    • 4 beds 3 baths ∙ 2,853 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,853 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.80
    •  
  • 23549 Abercorn Ln Land O Lakes, FL 1
    • 3 beds 3 baths ∙ 2,661 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,661 Sqft ∙ Built 2003
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 23880 Campania Pass Land O Lakes, FL 2
    • 4 beds 3 baths ∙ 2,701 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,701 Sqft ∙ Built 2014
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 3606 Morgans Bluff Ct Land O Lakes, FL 4
    • 5 beds 3 baths ∙ 2,646 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,646 Sqft ∙ Built 2004
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 23331 Key Largo Loop Land O Lakes, FL 5
    • 4 beds 4 baths ∙ 3,077 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,077 Sqft ∙ Built 2004
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.81
    •  
PROPERTY LISTING DETAILS
Stephanie Dauberman
1.813.240.3398
Florida Luxury Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8105219
Last Updated: 11/20/2020
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