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24915 Oakhaven Ct Lutz, FL 33559

3 Beds 2 Baths 1,956 sqft Built 2005

$275,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $140.59
  • 5 Days on Market
  • MLS # : T3273017
  • Updated Date : 10/30/2020 at 15:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,956 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Make this property your own! Home in quiet, desirable Lutz community of Oak Grove. Brand new carpet and ceiling fans in several rooms of this freshly painted home. Fully privacy fenced backyard! Excellent location with easy access to Wiregrass Mall, Tampa Premium Outlets, I75, US 41, and Veterans Expressway. Hurry up and schedule a private showing as soon as possible! This priced to sell home with low HOA fees will not last long!

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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,015
Property Tax -$307
Property Insurance -$150
HOA -$15
Property Management Fees -$80
CASH FLOW
$113

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.

$275,000

PROJECTED PRICE

$1,680

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

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$37,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,839

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6804$1,6955$1,895
$1,895
RENT COMPS ANALYSIS
  • 24915 Oakhaven Ct Lutz, FL 3
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.86
    •  
  • 24905 Siena Dr Lutz, FL 1
    • 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 2005
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 24653 Laurel Ridge Dr Lutz, FL 2
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2000
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 24940 Panacea Ct Lutz, FL 4
    • 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
    •  
  • 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
Lisa Mauriello
1.813.817.5537
Redfin Corporation
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273017
Last Updated: 10/30/2020
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