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2947 Minuteman Ln Brandon, FL 33511

3 Beds 3 Baths 2,136 sqft Built 1997

$329,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $154.45
  • 3 Days on Market
  • MLS # : T3271894
  • Updated Date : 11/01/2020 at 14:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,136 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realnet Florida Real Estate

Listing Agent's Description

Great opportunity to get into a quiet neighborhood in close proximity to highly rated schools. This renovated 3 bedroom, 2.5 bathroom home has a three car garage and a 3 year old roof! 5-ton A/C just installed, new tankless water heater, as well as stainless steel-finished Whirlpool kitchen appliances. Home is newly painted inside and out and has beautiful newly installed water proof laminate flooring in the common areas of the home. No backyard neighbors! Come see!

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: Bloomingdale Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k353k

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

Neighborhood: Bloomingdale Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8781999

* 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
Brooker Elementary School Primary Regular 920 72 4
Burns Middle School Middle Regular 1,255 75 7
Bloomingdale High School High Regular 2,191 118 6

Brooker Elementary School

  • Education Level: Primary
  • # of students: 920
  • # of teachers: 72
4
GreatSchools Rating

Burns Middle School

  • Education Level: Middle
  • # of students: 1,255
  • # of teachers: 75
7
GreatSchools Rating

Bloomingdale High School

  • Education Level: High
  • # of students: 2,191
  • # of teachers: 118
6
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,217
Property Tax -$420
Property Insurance -$161
HOA -$25
Property Management Fees -$80
CASH FLOW
-$23

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.

$329,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$25,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,938

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7324$1,8805$2,295
$2,295
RENT COMPS ANALYSIS
  • 2947 Minuteman Ln Brandon, FL 4
    • 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.88
    •  
  • 704 Brooker Rd Brandon, FL 1
    • 4 beds 2 baths ∙ 1,869 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,869 Sqft ∙ Built 1980
    LEASED 05/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 614 Rapid Falls Dr Brandon, FL 2
    • 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 1988
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 3616 Greenstone Pl Valrico, FL 3
    • 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 1979
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,732
    • $0.93
    •  
  • 2208 Briana Dr Brandon, FL 5
    • 4 beds 2 baths ∙ 2,420 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,420 Sqft ∙ Built 2002
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.95
    •  
PROPERTY LISTING DETAILS
Harris Gruman
1.813.317.4911
Realnet Florida Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3271894
Last Updated: 11/01/2020
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