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3704 Cypress Meadows Rd Tampa, FL 33624

4 Beds 3 Baths 2,054 sqft Built 1995

$310,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $150.93
  • 2 Days on Market
  • MLS # : T3279314
  • Updated Date : 12/06/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,054 sqft
  • Baths : 3 full
Listing Agent

Florida Realty

Listing Agent's Description

Tenants have gently used this 4 bdrm/3 full bath Cypress Meadows home with double garage. Roof approx 5 years old. AC approx 1 year old. Large screened lanai with pavers. New fence on both sides and a concrete wall along rear property line. Kitchen has a closet pantry, breakfast bar that seats 7, dinette area with mitred corner window that looks out to lanai, approx 1 year old dishwasher. Family room has a built-in with 4 shelves. French doors from dining room to lanai. 3 sets of sliders from other rooms to lanai. Easy access to and from Dale Mabry but distant enough that road noise is not an issue.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Northdale

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: Northdale

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
Claywell Elementary School Primary Regular 781 60 6
Hill Middle School Middle Regular 870 52 6
Gaither High School High Regular 2,090 117 5

Claywell Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 60
6
GreatSchools Rating

Hill Middle School

  • Education Level: Middle
  • # of students: 870
  • # of teachers: 52
6
GreatSchools Rating

Gaither High School

  • Education Level: High
  • # of students: 2,090
  • # of teachers: 117
5
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,144
Property Tax -$401
Property Insurance -$155
HOA -$40
Property Management Fees -$129
CASH FLOW
$41

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.

$310,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.62%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$32,042

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,920

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8003$1,8754$1,9105$2,095
$2,095
RENT COMPS ANALYSIS
  • 3704 Cypress Meadows Rd Tampa, FL 4
    • 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.93
    •  
  • 15730 Gardenside Ln Tampa, FL 1
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1980
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 4212 Autumn Leaves Dr Tampa, FL 2
    • 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 1978
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 2602 Heatherwood Dr Tampa, FL 3
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1997
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.95
    •  
  • 4104 Woodacre Ln Tampa, FL 5
    • 3 beds 2 baths ∙ 2,295 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,295 Sqft ∙ Built 2004
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.91
    •  
PROPERTY LISTING DETAILS
David Hammontree
1.813.431.0099
Florida Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3279314
Last Updated: 12/06/2020
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