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24634 Siena Dr Lutz, FL 33559

4 Beds 2 Baths 1,476 sqft Built 2004

INVESTimate

$254,900

List Price

$1,460

$1,314 - $1,606

Rent Est.

$271,469  ( +6.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $172.70
  • 7 Days on Market
  • MLS # : T3260562
  • Updated Date : 08/21/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,476 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage

Listing Agent's Description

VACANT and easy to show live or through our 3D tour! This BEAUTIFUL two story 4 bedroom 2 bathroom home with a 2 car garage is located in Lutz. Home features a convenient open floor plan with new interior paint and flooring throughout. Spacious master bedroom on the first floor with a walk in closet. Master bathroom has dual sinks and a garden tub. The other three bedrooms are on the second level. Fenced in yard for privacy. NEW ROOF to be installed. No CDD fees, and very low annual HOA fees. No flood insurance required! It is conveniently near both Wiregrass Mall and Tampa Premium Outlet Mall. Minutes away from fine dining, fun activity centers, recreation centers and parks. Close access to Interstate-75, Interstate-275, Highway 41 and the Suncoast Parkway/Veterans Expressway. Tour today!

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MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 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
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$940
Property Tax -$284
Property Insurance -$122
HOA -$17
Property Management Fees -$80
CASH FLOW
$16

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.

$254,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.50%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$24,632

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,502

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5003$1,5504$1,5755$1,595
$1,595
RENT COMPS ANALYSIS
  • 24634 Siena Dr Lutz, 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
    •  
    • $1,460
    • $0.99
    •  
  • 24530 Summer Wind Ct Lutz, 2
    • 4 beds 2 baths ∙ 1,476 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,476 Sqft ∙ Built 2004
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 24330 Breezy Oak Ct Lutz, 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, 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, 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
Rob Jones
1.813.444.4744
Offerpad Brokerage
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260562
Last Updated: 08/21/2020
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