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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $141.16
- 4 Days on Market
- MLS # : T3274227
- Updated Date : 12/03/2020 at 11:56
CONSTRUCTION
- Beds : 3
- Floor Size : 1,771 sqft
- Baths : 2 full
Listing Agent
Smith & Associates Real Estate
Listing Agent's Description
Highly sought after Lake Padgett Estates East. HOA of $42 per month and no CDD fees, this neighborhood has numerous amenities for the whole family to enjoy at a very affordable price. 3 bedrooms, 2 baths, split floor plan,2 car garage with fenced in yard and a screened lanai offers plenty of area to relax and play. Extra storage is available in the backyard shed which could also work as a playroom or workshop. Great room offers a decorative wood burning fireplace and the master bath has been totally updated. This home is located in a top rated school district, close to 2 premier malls, restaurants, major highways, movie theaters and has easy access to Tampa and airports.
SEE MORE
- #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: Lake Padgett Estates East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Padgett Estates East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,520 |
| EXPENSES | Loan Payment | -$922 |
| Property Tax | -$276 | |
| Property Insurance | -$139 | |
| HOA | -$42 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$12
|
||
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.
$250,000
PROJECTED PRICE
$1,520
PROJECTED RENT
0.61%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.27% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.26% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$72,000
LOAN DETAILS
$922
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $62,500 |
| Loan Amount | $187,500 |
6.92
YEARS SAVED
$23,848
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,520
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,665
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
3838 Briarbrook Pl Land O Lakes, FL 1
- 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1993
![property image]()
- Rent
- Rent Per SQFT
- $1,520
- $0.86
-
23836 Hastings Way Land O Lakes, FL 2
- 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2004
![property image]()
LEASED 08/03/20- Rent
- Rent Per SQFT
- $1,595
- $0.91
-
23807 Plantation Palms Blvd Land O Lakes, FL 3
- 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2003
![property image]()
LEASED 03/12/20- Rent
- Rent Per SQFT
- $1,650
- $0.94
-
23824 Plantation Palms Blvd Land O Lakes, FL 4
- 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2003
![property image]()
LEASED 06/04/20- Rent
- Rent Per SQFT
- $1,650
- $0.94
-
23533 Sierra Rd Land O Lakes, FL 5
- 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984
![property image]()
LEASED 02/24/20- Rent
- Rent Per SQFT
- $1,695
- $0.97
PROPERTY LISTING DETAILS
1.813.335.6127
Smith & Associates Real Estate
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: T3274227
Last Updated: 12/03/2020
