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24453 Summer Nights Ct Lutz, FL 33559

3 Beds 2 Baths 1,810 sqft Built 2002

$279,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $154.64
  • 8 Days on Market
  • MLS # : T3291549
  • Updated Date : 02/22/2021 at 07:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,810 sqft
  • Baths : 2 full
Listing Agent

Sun Cove Realty Inc

Listing Agent's Description

GORGEOUS 3bdrm, 2 bath, 2 car garage home, located in the Oak Grove community! When walking into this home you'll notice all the natural lighting that pours in from the big bright windows. Turning to the right from the front door you'll come to the first two bedrooms, both roomy and bright and within steps of the 2nd bathroom which has an upgraded vanity. Going into the rest of the home to the left of the front entryway you will come to the kitchen which overlooks the dining/living room area perfect for those who love to entertain! Going to the master bedroom and bathroom, the master is your own private oasis. The master bath has a glass-enclosed shower, soaking tub, plenty of storage, & solid wood cabinets. Love to have morning coffee or relax outside at night? The back porch is the perfect place to do so. Please see the attachment for all other upgrades that have been done. You don't want to miss out on this home! Great location, near shopping, restaurants, etc.

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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: 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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$972
Property Tax -$312
Property Insurance -$142
HOA -$17
Property Management Fees -$129
CASH FLOW
$128

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.

$279,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.61%

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$33,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,747

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6953$1,7004$1,8005$1,895
$1,895
RENT COMPS ANALYSIS
  • 24453 Summer Nights Ct Lutz, FL 3
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 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
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.92
    •  
  • 24940 Panacea Ct Lutz, FL 2
    • 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 2006
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 1850 Tinker Dr Lutz, FL 4
    • 4 beds 2 baths ∙ 1,745 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,745 Sqft ∙ Built 1995
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 1222 Kayak Cv Lutz, FL 5
    • 4 beds 2 baths ∙ 1,983 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,983 Sqft ∙ Built 1992
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.96
    •  
PROPERTY LISTING DETAILS
Robert Rochlin
1.813.948.0999
Sun Cove Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3291549
Last Updated: 02/22/2021
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