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4008 Concord Way Plant City, FL 33566

3 Beds 2 Baths 2,044 sqft Built 1991

$265,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $129.65
  • 7 Days on Market
  • MLS # : T3273138
  • Updated Date : 10/30/2020 at 12:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,044 sqft
  • Baths : 2 full
Listing Agent

Marzucco Real Estate

Listing Agent's Description

Spacious 3 bedroom 2 bath located in beautiful Walden Lake, this community is an active community with walking trails, playground, lakes and sports complex. This home features a split floor plan with a large master suite with walk in closet, garden tub and separate shower. The kitchen has large work spaces with lots of cabinets for storage as well as eat in breakfast bar. Inside laundry room and 2 car garage. A/C replaced (inside and outside units) 2020, roof 2012 and hot water heater 2019. This home has been professionally stabilized due to previous ground settlement related issue that comes with a lifetime warranty against further settlement. The home is insurable, seller is not required to carry additional insurance in regards to settlement. Hurry Hurry before it is gone!!!

SEE MORE

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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$978
Property Tax -$284
Property Insurance -$155
HOA -$45
Property Management Fees -$80
CASH FLOW
$48

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.

$265,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.60%

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

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$28,585

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,758

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6653$1,6954$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 4008 Concord Way Plant City, FL 1
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.78
    •  
  • 3218 Magnolia Garden Dr Plant City, FL 2
    • 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 2007
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.86
    •  
  • 3306 Silverpond Dr Plant City, FL 3
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1996
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 3211 Concord Way Plant City, FL 4
    • 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1991
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 3007 Forest Club Dr Plant City, FL 5
    • 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 1989
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lisa Rhodes
1.813.376.8294
Marzucco Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273138
Last Updated: 10/30/2020
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