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27345 Driver Ln Englewood, FL 34223

3 Beds 3 Baths 2,298 sqft Built 2016

$499,900

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $217.54
  • 3 Days on Market
  • MLS # : D6114794
  • Updated Date : 11/13/2020 at 14:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,298 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Come live your Florida dream life in the beautiful gated community of Boca Royale! Situated on 1,000 plus acres of tropical paradise with expansive lakes and nature preserves, just minutes away from Manasota Key and Boca Grande. Enjoy your days on one of many pristine Gulf beaches, launch your boat and spend a relaxing day on the water or play a round of golf right in your neigborhood followed by lunch in the club house. This Bright Meadow floor plan feature 3 bedrooms, 2.5 bathrooms, an office and heated, salt water pool with a lake view. The oversized Master bedroom has dual closets and en suite bath with walk-in, glass enclosed tile shower. Your visitors will enjoy their accommodations in one of two guest bedrooms, both with walk-in closets, a full guest bath and additional powder room in a separate wing of the house. Spend time entertaining guest in your upgraded, elegant kitchen complete with granite counter tops, stainless steel two vessel sink and stainless steel four burner gas stove with griddle, under- mount lighting, walk-in pantry and room for four at the breakfast bar. With this open concept home, you can engage in conversation with others in the adjoining Great Room and Dining area. Three panel sliding glass doors invite you to the the extended covered and screened lanai with custom designed, heated salt water pool build by Superior Pools. Custom lighting, ceiling fans, crown molding, closet organizers, suspended garage storage and privacy blinds are a few of the upgrades this nearly new home has to offer. Move in ready! Call for your showing.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Zip Code: 34223

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k297k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 34223

ZipNIR Market*CityMarket20102015Year20082019 Q212001300140015001600170018001900200021002200Rent in $11792215

* 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
Englewood Elementary School Primary Regular 524 35 8
L. A. Ainger Middle School Middle Regular 775 41 6
Lemon Bay High School High Regular 1,268 62 7

Englewood Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 35
8
GreatSchools Rating

L. A. Ainger Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 41
6
GreatSchools Rating

Lemon Bay High School

  • Education Level: High
  • # of students: 1,268
  • # of teachers: 62
7
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$1,844
Property Tax -$461
Property Insurance -$177
HOA -$407
Property Management Fees -$80
CASH FLOW
$431

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$499,900

PROJECTED PRICE

$3,400

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$87,970

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $4,182

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$4,200
$4,200
RENT COMPS ANALYSIS
  • 27345 Driver Ln Englewood, FL 1
    • 3 beds 3 baths ∙ 2,298 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,298 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.48
    •  
  • 26632 Raphis Royale Blvd Englewood, FL 2
    • 3 beds 3 baths ∙ 2,310 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,310 Sqft ∙ Built 2019
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.82
    •  
PROPERTY LISTING DETAILS
Karin Dubbs
1.941.350.7392
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6114794
Last Updated: 11/13/2020
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