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24304 Branchwood Ct Lutz, FL 33559

3 Beds 2 Baths 1,767 sqft Built 2002

$265,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $149.97
  • 2 Days on Market
  • MLS # : T3278031
  • Updated Date : 11/28/2020 at 15:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,767 sqft
  • Baths : 2 full
Listing Agent

Dennis Realty & Inv. Corp.

Listing Agent's Description

This beautiful well maintained home is located in the Oak Grove community, just minutes from Tampa Premium Outlets, Wiregrass mall, other shops, and restaurants!! This home has 3 bedrooms 2 baths as well as a den/front office space and plenty of outdoor space. it also features a charming eat in kitchen with beautiful granite countertops, and stainless steel appliances. The master bedroom is oversized with on-suite master bath, which includes double vanities, a large soaking tub and separate shower. Updated pavers on screened patio area. Perfect for entertaining. Newer roof, Fencing, and A/C. This is the perfect home for you and your family!

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Oak Grove

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k365k

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

Neighborhood: Oak Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052036

* 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$978
Property Tax -$296
Property Insurance -$139
HOA -$17
Property Management Fees -$80
CASH FLOW
$161

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.

$265,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.5%
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$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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$42,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,674

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6003$1,6004$1,6705$1,695
$1,695
RENT COMPS ANALYSIS
  • 24304 Branchwood Ct Lutz, FL 4
    • 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.95
    •  
  • 24436 Summer Wind Ct Lutz, FL 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2003
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.92
    •  
  • 1625 Gardner Dr Lutz, FL 2
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1987
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 1007 Windsor Way Lutz, FL 3
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1991
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 24940 Panacea Ct Lutz, FL 5
    • 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 2006
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
PROPERTY LISTING DETAILS
Leeroy Thompson
1.813.949.7444
Dennis Realty & Inv. Corp.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3278031
Last Updated: 11/28/2020
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