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3332 Michener Pl Plant City, FL 33566

3 Beds 2 Baths 1,869 sqft Built 1997

$287,500

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $153.83
  • 3 Days on Market
  • MLS # : L4919243
  • Updated Date : 11/13/2020 at 18:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,869 sqft
  • Baths : 2 full
Listing Agent

Viewpoint Value Realty

Listing Agent's Description

Located in SilverBrooke within Walden Lake of Plant City. Where tranquility and convenient lifestyle unite! Come see the charm and beauty of this 3/2 screen in pool home sitting on an immaculately maintained corner lot. A part of the yard is fenced and enclosed, perfect for your pet. An amazingly open floor plan with multiple access to the pool. Walk into the newly carpeted formal dining and living area to a gorgeous view. To the right lays the master bedroom with laminate flooring and access to the pool. The master bath has upgraded cabinetry granite countertops separate bath and shower with a private toilet room. The kitchen has upgraded raised panel cherry cabinets and granite countertops. Open eating area and extra seating at the kitchen bar. Large family room freshly carpeted, open to the kitchen. All appliances included. laundry room equipped with washer and dryer. One bedroom has cabinetry and a Murry's bed perfect for guests to come over or the option to have more room if needed. The guest bath has upgraded new cabinetry and granite countertops with a shower tub combo and plenty of storage. Don't miss your chance to view this perfect home for you! Conveniently located 25 miles from downtown Tampa, 15 minutes from Lakeland, and an hour from Orlando. THIS IS A MUST SEE!!!

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

Neighborhood: Walden Lake

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $79k359k

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

Neighborhood: Walden Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8122007

* 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
Walden Lake Elementary School Primary Regular 888 60 6
Tomlin Middle School Middle Regular 1,608 104 4
Plant City High School High Regular 2,219 122 5

Walden Lake Elementary School

  • Education Level: Primary
  • # of students: 888
  • # of teachers: 60
6
GreatSchools Rating

Tomlin Middle School

  • Education Level: Middle
  • # of students: 1,608
  • # of teachers: 104
4
GreatSchools Rating

Plant City High School

  • Education Level: High
  • # of students: 2,219
  • # of teachers: 122
5
GreatSchools Rating
 

$258,750$316,250$287,500

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,061
Property Tax -$308
Property Insurance -$145
HOA -$52
Property Management Fees -$80
CASH FLOW
-$35

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.

$287,500

PROJECTED PRICE

$1,610

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.3%
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$81,938

INVESTMENT

$81,938

Down Payment
$71,875
Rehab Estimate
$5,750
Closing Costs
$4,313

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,061

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,875
Loan Amount $215,625
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$21,515

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,617

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6103$1,6654$1,6955$1,800
$1,800
RENT COMPS ANALYSIS
  • 3332 Michener Pl Plant City, FL 2
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.86
    •  
  • 4012 Thackery Way Plant City, FL 1
    • 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1992
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
  • 3218 Magnolia Garden Dr Plant City, FL 3
    • 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 2007
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.86
    •  
  • 3306 Silverpond Dr Plant City, FL 4
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1996
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 3211 Concord Way Plant City, FL 5
    • 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1991
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Ashley Barile
1.813.787.0409
Viewpoint Value Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919243
Last Updated: 11/13/2020
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