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4616 Cloverlawn Dr Tampa, FL 33624

4 Beds 3 Baths 1,871 sqft Built 1981

$345,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $184.39
  • 2 Days on Market
  • MLS # : T3276050
  • Updated Date : 11/14/2020 at 09:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,871 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

Golf Course home in Northdale with 4 bedrooms, 2.5 bath with large covered lanai! Golf Course views from most rooms. Double pane windows and sliding glass doors throughout. This home offers wood floors in the main living areas and carpet in the bedrooms. Lots of storage closets and more storage in the oversized laundry room. Vaulted ceilings in the Master bedroom, with skylights and walk in closet. The Master bath offers dual sinks, granite counters and wood cabinets. 1/2 bath off the kitchen is great for guests. Separate Formal Living and Dining rooms. The Kitchen offers an abundance of wood cabinets and granite counters, and island with more storage, tile backsplash, stainless steel appliance package, separate dinette and opens to the Family room with vaulted ceiling, wood burning fireplace, skylights and sliding glass doors to the lanai. 3 guest bedrooms on the other side of the home share a guest bath. The large covered lanai with tiled floor is a great place to enjoy the golf course views, or entertain! Great location near shopping, dining and highways!

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Northdale Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: Northdale Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9052101

* 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
Claywell Elementary School Primary Regular 781 60 6
Hill Middle School Middle Regular 870 52 6
Gaither High School High Regular 2,090 117 5

Claywell Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 60
6
GreatSchools Rating

Hill Middle School

  • Education Level: Middle
  • # of students: 870
  • # of teachers: 52
6
GreatSchools Rating

Gaither High School

  • Education Level: High
  • # of students: 2,090
  • # of teachers: 117
5
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,273
Property Tax -$424
Property Insurance -$144
Property Management Fees -$80
CASH FLOW
-$121

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.

$345,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$18,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,8004$1,8255$1,995
$1,995
RENT COMPS ANALYSIS
  • 4616 Cloverlawn Dr Tampa, FL 3
    • 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 16603 Ashwood Dr Tampa, FL 1
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1981
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.95
    •  
  • 4212 Autumn Leaves Dr Tampa, FL 2
    • 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 1978
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 16133 Gardendale Dr Tampa, FL 4
    • 4 beds 3 baths ∙ 1,934 Sqft ∙ Built 1982 4 beds 3 baths ∙ 1,934 Sqft ∙ Built 1982
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.94
    •  
  • 4706 Fox Hunt Dr Tampa, FL 5
    • 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1982
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
PROPERTY LISTING DETAILS
Joe Lewkowicz
1.813.908.7293
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3276050
Last Updated: 11/14/2020
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