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3838 Briarbrook Pl Land O Lakes, FL 34639

3 Beds 2 Baths 1,771 sqft Built 1993

$250,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • #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

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k345k

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

Neighborhood: Lake Padgett Estates East

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
Pine View Elementary School Primary Regular 653 48 6
Pine View Middle School Middle Regular 924 58 6
Land O' Lakes High School High Magnet 1,700 100 8

Pine View Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 48
6
GreatSchools Rating

Pine View Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 58
6
GreatSchools Rating

Land O' Lakes High School

  • Education Level: High
  • # of students: 1,700
  • # of teachers: 100
8
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

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
$1,520
1$1,5202$1,5953$1,6504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 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
Jane Theriault
1.813.335.6127
Smith & Associates Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3274227
Last Updated: 12/03/2020
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