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3618 Olde Lanark Dr 
Land O Lakes, FL
34638
4 Beds 2 Baths 2,186 sqft
Built 2006
INVESTimate
$289,900
List Price
$82,574
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PROPERTY INFO
FACTS
- Built In 2006
- Price/Sqft : $132.62
- 2 Days on Market
- MLS # : T3261343
- Updated Date : 08/26/2020 at 01:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,186 sqft
- Baths : 2 full
Listing Agent
Homeward Real Estate
Listing Agent's Description
Move-in ready 4/2 in Ballantrae. Formal living/dining room when you first enter the home. Kitchen is spacious and open to the family room and features an eat-in kitchen with breakfast nook. Master bedroom features a HUGE walk-in closet with high ceilings. The master bathroom has double sinks with separate vanity areas and a separate tub & shower. Aweseome backyard oasis with a large pavered area, covered patio and firepit area which is perfect for entertaining or family gatherings. Ballantrae offers great amenities including community pool & clubhouse, basketball courts, tennis courts & playground. Great Land O Lakes schools and a great location with easy access to 589 to get to Tampa! Buyers check out the video walk thru https://www.youtube.com/watch?v=oIX50AmxUtA
SEE MORE
- 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: Ballantrae
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ballantrae
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,850 |
| EXPENSES | Loan Payment | -$1,070 |
| Property Tax | -$477 | |
| Property Insurance | -$164 | |
| HOA | -$54 | |
| Property Management Fees | -$80 | |
|
CASH FLOW
$6
|
||
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.
$289,900
PROJECTED PRICE
$1,850
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.27% |
| Appreciation Year (1-5) | 7.27% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.26% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$82,574
LOAN DETAILS
$1,070
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $72,475 |
| Loan Amount | $217,425 |
6.25
YEARS SAVED
$24,187
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,850
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$1,924
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
3618 Olde Lanark Dr Land O Lakes, 3
- 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 2006
- Rent
- Rent Per SQFT
- $1,850
- $0.85
-
3339 Thistledown Ln Land O Lakes, 1
- 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 2007
LEASED 02/27/20- Rent
- Rent Per SQFT
- $1,800
- $0.88
-
17515 Sandgate Ct Land O Lakes, 2
- 3 beds 3 baths ∙ 2,112 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,112 Sqft ∙ Built 2005
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,850
- $0.88
-
3727 Beneraid St Land O Lakes, 4
- 5 beds 3 baths ∙ 2,260 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,260 Sqft ∙ Built 2006
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,950
- $0.86
-
3521 Beneraid St Land O Lakes, 5
- 5 beds 3 baths ∙ 2,260 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,260 Sqft ∙ Built 2006
LEASED 01/29/20- Rent
- Rent Per SQFT
- $2,045
- $0.90
PROPERTY LISTING DETAILS
1.813.298.6950
Homeward Real Estate
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: T3261343
Last Updated: 08/26/2020
