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24530 Summer Wind Ct Lutz, FL 33559

4 Beds 2 Baths 1,476 sqft Built 2004

$264,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $179.47
  • 5 Days on Market
  • MLS # : T3274428
  • Updated Date : 11/05/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,476 sqft
  • Baths : 2 full
Listing Agent

Impact Realty Tampa Bay

Listing Agent's Description

Spacious 4-bedroom, 2-bathroom, 2-story home conveniently located in Lutz just minutes from I-75 and Tampa Premium Outlets. Large master bedroom is located on the first floor with large window seat and ensuite bathroom featuring large walk-in closet and shower/tub combo. Three bedrooms upstairs with second bathroom can also be used for home office or playroom. Downstairs features open floor plan connecting large living room to kitchen and breakfast nook. Large, fenced backyard includes an open patio and plenty of shade. Smart home features Brinks security system and keypad entry, which can be controlled by an app on your phone. Attached 2-car garage has inside utility with washer, dryer and extra refrigerator. This home will not last. Schedule your showing today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$977
Property Tax -$295
Property Insurance -$122
Property Management Fees -$80
CASH FLOW
$45

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.

$264,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$29,070

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,465

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5253$1,5504$1,5755$1,595
$1,595
RENT COMPS ANALYSIS
  • 24530 Summer Wind Ct Lutz, FL 1
    • 4 beds 2 baths ∙ 1,476 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,476 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.03
    •  
  • 24436 Summer Wind Ct Lutz, FL 2
    • 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
    •  
  • 24330 Breezy Oak Ct Lutz, FL 3
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2003
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 24710 Volterra Ct Lutz, FL 4
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2005
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.02
    •  
  • 24652 Portofino Dr Lutz, FL 5
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2005
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jennie Restrepo
1.813.541.2822
Impact Realty Tampa Bay
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3274428
Last Updated: 11/05/2020
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