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24922 Panacea Ct Lutz, FL 33559

3 Beds 2 Baths 1,675 sqft Built 2005

$271,500

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $162.09
  • 2 Days on Market
  • MLS # : W7831484
  • Updated Date : 03/07/2021 at 00:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,675 sqft
  • Baths : 2 full
Listing Agent

Excel Real Properties Llc

Listing Agent's Description

Prime Location, Quiet, Peaceful Neighborhood, 3 Bedroom, 2 Bath, 2 Car Garage "Oak Grove" Home built in 2005, Bright Open Great Room Floor Plan with Soaring Vaulted Ceilings, Spacious Kitchen with Crisp White Cabinetry, Gas Range, Built-in Microwave, SxS refrigerator with Ice and Water, Breakfast Bar Overlooking the Great Room with Large Sliding Doors looking out to a Covered and Screened Lanai and the PVC Fenced Back Yard, A Seperate Formal Dining Room convient to the Kitchen, Double Panel Door Entry to the 15x15 Master Bedroom with Slider out to Lanai, EN SUITE Master Bedroom boasts a Double Sink Vanity, Garden Tub with Shower, Large Walk-in Closet with Built-in Shelving, Both Spare Bedrooms are generously sized with Roomy Closets and one with built-in Organizer Shelving, Ceramic Tile and Laminate Flooring through-out, ADT Security System, Digital Thermostat, Designer Ceiling Fans through-out, SxS refrigerator w/Iceabd Water,as Range, Microwave and Dishwasher,Interior Utility Room with Upgrade Washer and Dryer, Two Car Garage w/Door Opener and Coded Entry. Less then 15 minutes to I-75 and I-275, Easy Access to major Commuter Highways - Call Today to set an Appointment !!

SEE MORE

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
 

$244,350$298,650$271,500

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$943
Property Tax -$303
Property Insurance -$134
HOA -$21
Property Management Fees -$129
CASH FLOW
$51

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.

$271,500

PROJECTED PRICE

$1,580

PROJECTED RENT

0.58%

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$77,698

INVESTMENT

$77,698

Down Payment
$67,875
Rehab Estimate
$5,750
Closing Costs
$4,073

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$943

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,875
Loan Amount $203,625
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$25,209

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5803$1,5954$1,6955$1,800
$1,800
RENT COMPS ANALYSIS
  • 24922 Panacea Ct Lutz, FL 2
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.94
    •  
  • 24710 Volterra Ct Lutz, FL 1
    • 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 3
    • 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
    •  
  • 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
    •  
  • 1850 Tinker Dr Lutz, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
William Parachini
1.727.967.6903
Excel Real Properties Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7831484
Last Updated: 03/07/2021
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