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402 Overland Dr Brandon, FL 33511

3 Beds 3 Baths 1,539 sqft Built 1968

$259,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $168.29
  • 3 Days on Market
  • MLS # : T3294128
  • Updated Date : 03/06/2021 at 15:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,539 sqft
  • Baths : 3 full
Listing Agent

Rabell Realty Group Llc

Listing Agent's Description

Don’t miss your opportunity to own this solid 3 bedroom 3 bath block home located in the heart of Brandon on over 1/3 acre at the end of a beautifully tree-lined dead-end street with NO HOA or CDD. Inside you will be delighted by the gleaming wood floors, energy-efficient low E windows (2018), plantation shutters throughout, large open spaces including separate dining and living rooms, and a neat and clean kitchen overlooking the large family room. Outside you’ll find a huge, screened patio perfect for entertaining or enjoying quiet evenings surrounded by the sounds of nature. This home also has an attached oversized 2 car garage with a workbench and another full bath. And just in case you need more storage there a good-sized shed in the backyard for gardening tools. This well-maintained home also has some notable upgrades including the drain field (2015), HVAC 2012, and well pump for irrigation (2015) To top things off this home is conveniently located to shopping, entertainment, dining and has easy access to the Crosstown Expressway, I-75, and I-4 making your commute a breeze no matter what direction you need to go in.

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

Zip Code: 33511

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k256k

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

Zip Code: 33511

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781644

* 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
Yates Elementary School Primary Regular 727 57 2
Mclane Middle School Middle Regular 756 61 2
Brandon High School High Regular 1,864 116 4

Yates Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 57
2
GreatSchools Rating

Mclane Middle School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 61
2
GreatSchools Rating

Brandon High School

  • Education Level: High
  • # of students: 1,864
  • # of teachers: 116
4
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$900
Property Tax -$330
Property Insurance -$126
Property Management Fees -$129
CASH FLOW
$56

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.

$259,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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$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$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$23,821

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5953$1,6254$1,6505$1,680
$1,680
RENT COMPS ANALYSIS
  • 402 Overland Dr Brandon, FL 1
    • 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 1968 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.00
    •  
  • 510 Julie Ln Brandon, FL 2
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1968
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 704 Sailfish Dr Brandon, FL 3
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1980
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.06
    •  
  • 410 Larrie Ellen Way Brandon, FL 4
    • 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1975
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 412 Clarissa Dr Brandon, FL 5
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1962
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.07
    •  
PROPERTY LISTING DETAILS
Leesa Moore
1.813.404.0505
Rabell Realty Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3294128
Last Updated: 03/06/2021
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