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3044 Abrams Trl Odessa, FL 33556

3 Beds 3 Baths 2,502 sqft Built 2018

$449,990

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $179.85
  • 14 Days on Market
  • MLS # : T3287979
  • Updated Date : 02/10/2021 at 23:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,502 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mihara & Associates Inc.

Listing Agent's Description

STUNNING and COZY two story home in desirable award-winning STARKEY RANCH COMMUNITY! Excellent curb appeal will be your first impression of this home with a brick walkway, beautiful landscaping and an inviting covered front porch with stone detail. Upon you entering the house and into the foyer, TILE flooring greets you thru out the first level. You will find a corner Den/Office or your 4th Bedroom, your formal Living Room and half bath. The Gourmet kitchen with GREY staggered WOOD cabinets, QUARTZ COUNTERS TOPS, subway BACKSPLASH and all STAINLESS-STEEL APPLIANCES is a chef dream! The amazing entertaining area is perfect for hosting family gatherings, or just enjoying a beautiful evening. The second floor offers you a BONUS ROOM with TRAY CEILING. The Master Suite features a large WALK-IN SHOWER, DUAL VANITY SINKS and a large WALK-IN-CLOSET. The secondary bedrooms are spacious with a shared bathroom separating them. This home has a unique feel to it, and along with being a Park Home, you'll have a rear-entry garage and beautiful views of green space and offering small mews park in front entry area. Starkey Ranch offers 20 miles of trails, pools, playgrounds, parks, dog parks, activities director, kayak/canoe, next to Starkey Wilderness Preserve. Brand new K-8 school 2021! Publix, bank, shops, and public library at arm’s reach. See why this is Tampa Bay’s #1 selling Master Plan Unit Development!

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MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Starkey Ranch

ZipNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $85k463k

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

Neighborhood: Starkey Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $8782638

* 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
Odessa Elementary School Primary Regular 836 56 8
Seven Springs Middle School Middle Regular 1,442 88 9
James W. Mitchell High School High Regular 1,892 117 7

Odessa Elementary School

  • Education Level: Primary
  • # of students: 836
  • # of teachers: 56
8
GreatSchools Rating

Seven Springs Middle School

  • Education Level: Middle
  • # of students: 1,442
  • # of teachers: 88
9
GreatSchools Rating

James W. Mitchell High School

  • Education Level: High
  • # of students: 1,892
  • # of teachers: 117
7
GreatSchools Rating
 

$404,991$494,989$449,990

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,563
Property Tax -$656
Property Insurance -$182
HOA -$6
Property Management Fees -$129
CASH FLOW
-$106

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.

$449,990

PROJECTED PRICE

$2,430

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 4.6%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,997

INVESTMENT

$124,997

Down Payment
$112,498
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,498
Loan Amount $337,493
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$21,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,610

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,430
1$2,4302$2,8003$2,9004$2,900
$2,900
RENT COMPS ANALYSIS
  • 3044 Abrams Trl Odessa, FL 1
    • 3 beds 3 baths ∙ 2,502 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,502 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.97
    •  
  • 3083 Heart Pine Ave Odessa, FL 2
    • 3 beds 3 baths ∙ 2,767 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,767 Sqft ∙ Built 2017
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.01
    •  
  • 3285 Heart Pine Ave Odessa, FL 3
    • 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2017
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.05
    •  
  • 13376 Batten Ln Odessa, FL 4
    • 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2016
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.07
    •  
PROPERTY LISTING DETAILS
Brendaliz Morales
1.813.377.9328
Mihara & Associates Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3287979
Last Updated: 02/10/2021
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