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3901 Fairlea Cir Plant City, FL 33566

4 Beds 3 Baths 2,826 sqft Built 1989

$450,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $159.24
  • 2 Days on Market
  • MLS # : T3283407
  • Updated Date : 01/09/2021 at 13:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,826 sqft
  • Baths : 2 full , 1 half
Listing Agent

Future Home Realty Inc

Listing Agent's Description

Gorgeous federal style pool house located in the Aston Woods community of Walden Lakes in Plant City. Just a short 10-minute drive to I-4 or Hwy 60. The spacious open kitchen features a multitude of cabinets, stainless steel appliances, granite countertops, an oversized center island, double ovens, split brick floors, and a built-in wine chiller. The luxurious bathrooms have been fully remodeled and master bathroom displays a soaker tub with jets and in-line heater and a separate stand alone shower with bench, as well as double shower head and rain shower. The lanai offers lots of privacy and features a beautiful pool. The property has been professionally decorated and landscaped and has had excellent maintenance. This home is impeccable and has so much character. Truly a “one of a kind” in the area. This home isn’t going to last, schedule your showing before it’s gone.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Walden Lake

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $79k359k

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

Neighborhood: Walden Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8122007

* 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
Walden Lake Elementary School Primary Regular 888 60 6
Tomlin Middle School Middle Regular 1,608 104 4
Plant City High School High Regular 2,219 122 5

Walden Lake Elementary School

  • Education Level: Primary
  • # of students: 888
  • # of teachers: 60
6
GreatSchools Rating

Tomlin Middle School

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

Plant City High School

  • Education Level: High
  • # of students: 2,219
  • # of teachers: 122
5
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,563
Property Tax -$482
Property Insurance -$201
HOA -$49
Property Management Fees -$129
CASH FLOW
-$114

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.

$450,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.51%

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$1.2M$1.4M

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$22,886

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,296

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,839
1$1,8392$1,8953$2,3104$2,4955$2,700
$2,700
RENT COMPS ANALYSIS
  • 3901 Fairlea Cir Plant City, FL 3
    • 4 beds 3 baths ∙ 2,826 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,826 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.82
    •  
  • 2906 Aston Ave Plant City, FL 1
    • 3 beds 4 baths ∙ 2,546 Sqft ∙ Built 1991 3 beds 4 baths ∙ 2,546 Sqft ∙ Built 1991
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,839
    • $0.72
    •  
  • 3108 Magnolia Meadows Dr Plant City, FL 2
    • 4 beds 3 baths ∙ 2,852 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,852 Sqft ∙ Built 2008
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.66
    •  
  • 2816 Pine Club Dr Plant City, FL 4
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1988
    property image
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.95
    •  
  • 2822 Hampton Pl Ct Plant City, FL 5
    • 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2002
    property image
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.92
    •  
PROPERTY LISTING DETAILS
Monica Vazquez
1.813.855.4982
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3283407
Last Updated: 01/09/2021
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