Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3822 Creek Way Ct Plant City, FL 33563

3 Beds 2 Baths 1,464 sqft Built 1991

INVESTimate

$209,700

List Price

$1,390

$1,251 - $1,529

Rent Est.

$231,047  ( +10.18%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $143.24
  • 2 Days on Market
  • MLS # : T3261361
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,464 sqft
  • Baths : 2 full
Listing Agent

Lombardo Team Real Estate Llc

Listing Agent's Description

Gorgeously renovated home with large back yard. Minutes from I-4 at exit 17. Located in very quite neighborhood. Home been renovated with New Kitchen Cabinets, Granite counter top, New Stainless steel Appliances, Ceramic tiles, bathrooms updates, new paint inside and outside, Roof and AC few years old. Open floor plan with spacious kitchen, and living area. Won't last long in the market.

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: Improvement League of Plant City

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $72k238k

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

Neighborhood: Improvement League of Plant City

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7451590

* 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
Bryan Plant City Elementary School Primary Regular 777 61 2
Tomlin Middle School Middle Regular 1,608 104 4
Strawberry Crest High School High Magnet 2,241 126 7

Bryan Plant City Elementary School

  • Education Level: Primary
  • # of students: 777
  • # of teachers: 61
2
GreatSchools Rating

Tomlin Middle School

  • Education Level: Middle
  • # of students: 1,608
  • # of teachers: 104
4
GreatSchools Rating

Strawberry Crest High School

  • Education Level: High
  • # of students: 2,241
  • # of teachers: 126
7
GreatSchools Rating
 

$188,730$230,670$209,700

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$774
Property Tax -$244
Property Insurance -$121
Property Management Fees -$80
CASH FLOW
$171

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.

$209,700

PROJECTED PRICE

$1,390

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 10.18%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,321

INVESTMENT

$61,321

Down Payment
$52,425
Rehab Estimate
$5,750
Closing Costs
$3,146

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$774

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,425
Loan Amount $157,275
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$37,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,420

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3953$1,4504$1,4755$1,499
$1,499
RENT COMPS ANALYSIS
  • 3822 Creek Way Ct Plant City, 1
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.95
    •  
  • 209 Lisa Ann Ct Plant City, 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2006
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 311 Sugar Creek Dr Plant City, 3
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1991
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 3802 Creek Way Ct Plant City, 4
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1991
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.89
    •  
  • 3910 Creek Woods Dr Plant City, 5
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1994
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.07
    •  
PROPERTY LISTING DETAILS
Bhargav Hirpara
1.813.241.5701
Lombardo Team Real Estate Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3261361
Last Updated: 08/26/2020
BESbswy