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403 Loch Devon Dr Lutz, FL 33548

4 Beds 3 Baths 2,439 sqft Built 1989

$495,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $202.95
  • 3 Days on Market
  • MLS # : U8112270
  • Updated Date : 02/05/2021 at 12:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,439 sqft
  • Baths : 3 full
Listing Agent

Keller Williams - New Tampa

Listing Agent's Description

This Florida ranch style home surrounded by beautiful mature oak trees in Loch Devon Estates, a community of only 24 homes, has all the charm and beauty you’re looking for in a home. This 4 bedroom, 3 bathroom, den, 2439 sqft. pool home has been well maintained and cared for through the years. Upon entering the home you will notice beautiful tile flooring through out the main living areas giving this home an open and cohesive look and feel. The spacious kitchen includes plenty of cabinet storage, granite countertops, eat up bar, and eat in kitchen space, plus stainless steel appliances. The kitchen flows into the casual living space that looks over the massive paver patio and pool deck. The large master bedroom suite features a completely updated master bath with gorgeous walk in frameless glass shower and modern soaking tub. All secondary bedrooms are generously sized and add extra space for your growing family. Enjoying the outdoors and the quiet charm of this house is easily done on the large covered screened patio area complete with a heated salt water pool. The home sits on just under a half acre of land, at the end of a cul-de-sac, with a large air-conditioned workshop and smaller utility shed for all your storage needs. Located in the sought after school district of Steinbrenner High School, close to all the best shopping and dining the area has to offer, and a quick commute to the Tampa Airport and downtown, makes this home a must see. Call and schedule your showing today!

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: Lutz

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k432k

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

Neighborhood: Lutz

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9052166

* 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
Lutz Preparatory K-8 Primary Regular 635 48 6
Buchanan Middle School Middle Regular 743 53 3
Steinbrenner High School High Regular 2,329 116 8

Lutz Preparatory K-8

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 48
6
GreatSchools Rating

Buchanan Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
3
GreatSchools Rating

Steinbrenner High School

  • Education Level: High
  • # of students: 2,329
  • # of teachers: 116
8
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,719
Property Tax -$625
Property Insurance -$178
HOA -$25
Property Management Fees -$129
CASH FLOW
-$147

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.

$495,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.6%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$23,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,506

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3003$2,3004$2,4005$2,530
$2,530
RENT COMPS ANALYSIS
  • 403 Loch Devon Dr Lutz, FL 5
    • 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.04
    •  
  • 1239 Primwood Ln Lutz, FL 1
    • 4 beds 2 baths ∙ 2,310 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,310 Sqft ∙ Built 1998
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.99
    •  
  • 18001 Quail Ln Lutz, FL 2
    • 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 1974 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 1974
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.07
    •  
  • 18855 Tracer Dr Lutz, FL 3
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 1971
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
  • 18230 Dolly Brook Ln Lutz, FL 4
    • 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 1993
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.08
    •  
PROPERTY LISTING DETAILS
Richard Boswell
1.813.857.8060
Keller Williams - New Tampa
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8112270
Last Updated: 02/05/2021
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