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3502 Libby Loop Tampa, FL 33619

4 Beds 3 Baths 1,755 sqft Built 1978

$245,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $139.60
  • 3 Days on Market
  • MLS # : T3286790
  • Updated Date : 01/30/2021 at 16:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,755 sqft
  • Baths : 3 full
Listing Agent

Homexpress Realty, Inc.

Listing Agent's Description

Welcome Home! This beautifully updated home in Palm River has 4 Bedrooms, 3 Bathrooms, 3 Living Areas, Kitchen with Pantry, Laundry and 2 Driveways with separate exterior entrances. The home furnishes updated kitchen cabinets and countertops, stainless steel appliances, blinds and light fixtures throughout, updated flooring, updated water heater, A/C system, and updated fencing. The Master Bedroom has His & Hers closets, a sitting area perfect for a dressing area or home office, gorgeous remodeled all-tile shower and the inside utility room! The kitchen really is the heart of this home – central to all portions of the house and large enough for an eat-in kitchen or use the adjoining dining room. Two living areas in the main part of the home allow for everyone to have space to feel comfortable. All appliances including the washer and dryer convey with the sale of the home. The home has several smart features including a smart thermostat, ring doorbell, indoor and outdoor smart switches, and Alexa Hubs that all convey with purchase. The home has easy access to downtown Tampa within 15 minutes and TIA within 25 minutes.

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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: Greater Palm River Point

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $54k238k

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

Neighborhood: Greater Palm River Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391613

* 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
Bing Elementary School Primary Regular 603 52 2
Giunta Middle School Middle Regular 951 61 1
Spoto High School High Regular 1,449 88 3

Bing Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 52
2
GreatSchools Rating

Giunta Middle School

  • Education Level: Middle
  • # of students: 951
  • # of teachers: 61
1
GreatSchools Rating

Spoto High School

  • Education Level: High
  • # of students: 1,449
  • # of teachers: 88
3
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$851
Property Tax -$301
Property Insurance -$138
Property Management Fees -$129
CASH FLOW
$281

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.

$245,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$43,804

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,654

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,5503$1,7004$1,7955$2,000
$2,000
RENT COMPS ANALYSIS
  • 3502 Libby Loop Tampa, FL 3
    • 4 beds 3 baths ∙ 1,755 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,755 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 3217 Deerfield Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1973
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.83
    •  
  • 4030 Watercove Dr Riverview, FL 2
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1995
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 4016 Watercove Dr Riverview, FL 4
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1996
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 3401 S 70th St Tampa, FL 5
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1977
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
PROPERTY LISTING DETAILS
Andre Walker
1.813.619.5681
Homexpress Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286790
Last Updated: 01/30/2021
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