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3416 Picwood Rd Tampa, FL 33618

3 Beds 2 Baths 1,387 sqft Built 1961

$339,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $244.41
  • 5 Days on Market
  • MLS # : U8115573
  • Updated Date : 03/12/2021 at 14:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,387 sqft
  • Baths : 2 full
Listing Agent

Realty Excellence Adamo & Asso

Listing Agent's Description

MULTIPLE OFFER SITUATION- Seller will review all offers at 5pm Sunday. Send offers asap. Do your best!!! Welcome to this move-in ready POOL home in desirable Original Carrollwood. Walk in to bright open concept floor plan with high ceilings. Wall of sliders open to sparkling pool featuring a wall mounted relaxing water feature. Pool has large surrounding patio completed caged with plenty of room for chairs, lounges, table and grill. Serenity abounds with privacy fencing around pool and very large yard area. Inside notice all floors are all large ceramic tiles on an angle. Kitchen and all bath counters have tasteful granite countertops. Kitchen has recessed lighting above breakfast/snack bar plus a full view glass door to front. Hallway has huge panty closet and convenient door to pool area near hall bath. Master Bedroom with ensuite bath has jetted tub for the ultimate in relaxing, shower, tiled wall with decorative band and super large granite counter top. Hall bath services the two other ample size bedrooms. Some improvements include- HVAC Jan. 2015 3 Ton Heat Pump, Pool Remarcited 2005. New Pool cage 2013, Roof replaced 2013 w/upgraded underlayment, HWH 2015, Double pane window and more. Large 12x24 carport with large Laundry/Storage room. Extremely well-maintained home just waiting for new owners. So many amenities in Original Carrollwood such as parks, playground, tennis courts, rec building, White Sand Beach, Lake for fishing, boating, skiing. Once a year fee of $600 (included in your taxes) is a great value. There is a Civic Association and Recreation District which oversees the above. Just minutes to Tampa International Airport, RJ Stadium, Busch Gardens plus abundance of local Tampa restaurants.

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: Carrollwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: Carrollwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Carrollwood Elementary School Primary Regular 796 63 6
Adams Middle School Middle Regular 1,017 75 2
Chamberlain High School High Regular 1,772 98 4

Carrollwood Elementary School

  • Education Level: Primary
  • # of students: 796
  • # of teachers: 63
6
GreatSchools Rating

Adams Middle School

  • Education Level: Middle
  • # of students: 1,017
  • # of teachers: 75
2
GreatSchools Rating

Chamberlain High School

  • Education Level: High
  • # of students: 1,772
  • # of teachers: 98
4
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,177
Property Tax -$417
Property Insurance -$116
HOA -$50
Property Management Fees -$129
CASH FLOW
-$200

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.

$339,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.9%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,245
1$1,2452$1,4753$1,6004$1,6905$1,750
$1,750
RENT COMPS ANALYSIS
  • 3416 Picwood Rd Tampa, FL 4
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.22
    •  
  • 2308 Carroll Pl Tampa, FL 1
    • 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1955
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $1.10
    •  
  • 10224 N Fleetwood Dr Tampa, FL 2
    • 3 beds 1 baths ∙ 1,263 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,263 Sqft ∙ Built 1956
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.17
    •  
  • 2101 Carroll Pl Tampa, FL 3
    • 3 beds 1 baths ∙ 1,592 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,592 Sqft ∙ Built 1955
    property image
    LEASED 10/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 10209 N Valle Dr Tampa, FL 5
    • 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 1958
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Dottie Reynolds
1.727.542.1475
Realty Excellence Adamo & Asso
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8115573
Last Updated: 03/12/2021
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