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3651 Valencia Cove Ct Land O Lakes, FL 34639

4 Beds 3 Baths 2,518 sqft Built 2003

$425,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $168.78
  • 3 Days on Market
  • MLS # : T3295478
  • Updated Date : 03/13/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,518 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Wonderfully updated 4bedrooom/3bath/3car garage, pool home in the sought after community of Plantation Palms. Entering the double glass doors of the main entry you will notice the 12" x 24" tile that extends to every corner of this updated home. As your tour continues, you will experience the attention to detail from the wainscoting in the dining and gathering rooms, to the Chef's kitchen with all updated cabinetry, quartz countertops, stainless steel appliances, including a double oven, cooktop, and wine refrigerator. The family room overlooks the pool area and expansive lanai with privacy fenced yard for incredible outdoor entertaining. The owner's suite offers his and hers closets and a spa-like master bath with jetted soaker tub and beautiful walk-in shower all completed in 2020. This double split floorplan features two additional full baths. Additional features include new high efficiency HVAC, replaced in 2020, hot water heater in 2020, and added salt water conversion and multi-speed variable pump, and complete rescreen of the lanai, including Florida Glass to extend covered area. Washer, dryer and front yard fountain do not convey.

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: Plantation Palms

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k345k

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

Neighborhood: Plantation Palms

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
Lake Myrtle Elementary School Primary Regular 665 48 6
Charles S. Rushe Middle School Middle Regular 1,325 74 7
Sunlake High School High Regular 1,740 95 8

Lake Myrtle Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 48
6
GreatSchools Rating

Charles S. Rushe Middle School

  • Education Level: Middle
  • # of students: 1,325
  • # of teachers: 74
7
GreatSchools Rating

Sunlake High School

  • Education Level: High
  • # of students: 1,740
  • # of teachers: 95
8
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,476
Property Tax -$470
Property Insurance -$183
HOA -$48
Property Management Fees -$129
CASH FLOW
-$96

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.

$425,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.2%
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$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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$22,518

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,203

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1753$2,2004$2,2105$2,295
$2,295
RENT COMPS ANALYSIS
  • 3651 Valencia Cove Ct Land O Lakes, FL 4
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.88
    •  
  • 4146 Tarkington Dr Land O Lakes, FL 1
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2002
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 22647 Cliffside Way Land O Lakes, FL 2
    • 5 beds 3 baths ∙ 2,646 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,646 Sqft ∙ Built 2002
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.82
    •  
  • 23549 Abercorn Ln Land O Lakes, FL 3
    • 3 beds 3 baths ∙ 2,661 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,661 Sqft ∙ Built 2003
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 22827 Eagles Watch Dr Land O Lakes, FL 5
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2002
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.99
    •  
PROPERTY LISTING DETAILS
Rebecca Messenger
1.813.404.2068
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3295478
Last Updated: 03/13/2021
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