Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5004 Mirror Ridge Ct Lutz, FL 33558

3 Beds 2 Baths 1,923 sqft Built 2002

$350,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $182.01
  • 3 Days on Market
  • MLS # : T3291042
  • Updated Date : 02/19/2021 at 09:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,923 sqft
  • Baths : 2 full
Listing Agent

Eaton Realty,llc

Listing Agent's Description

This charming bungalow style 3 bedrooms, 2 baths, home is situated on a quiet cul-de-sac and no neighbors to the east providing all the privacy you need. Stroll up the paved walkway to a welcoming cozy front porch – the perfect spot to sit outside and unwind. Enter the home to a bright and open layout with crown molding, hardwood flooring in the main living areas, ceramic tile in the wet areas, and plush carpeting in the bedrooms. Off the foyer is the spacious living/dining room combo with hardwood floors and an abundance of windows for natural light. Continue to the kitchen with a full appliance suite, plenty of crowned cabinets, and counter space. The large prep-island overlooks the large great room with hardwood flooring adding a warm feel to the home. Triple sliders open out to your expansive covered screened-in lanai where you’ll enjoy entertaining, grilling, and relaxing in the beautiful year-round Florida weather. A large privacy fenced-in yard offers additional entertaining space and room for the four-legged family members to roam. The sizable private master suite has beautiful tray ceilings, a large walk-in closet, and sliders out to the lanai. The en-suite bath has an enormous walk-in shower, dual sink vanity, water closet, and the second walk-in closet. The remaining roomy bedrooms are off the kitchen and share a hall full-sized bath. Come and put your personal touches on this delightful property. Situated in a friendly community this home is close to the community pool and playground and is convenient to shopping, dining, activities, schools, and commuter routes.

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: Cheval

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k426k

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

Neighborhood: Cheval

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9052420

* 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
Schwarzkopf Elementary School Primary Regular 639 49 8
Martinez Middle School Middle Regular 1,133 59 8
Steinbrenner High School High Regular 2,329 116 8

Schwarzkopf Elementary School

  • Education Level: Primary
  • # of students: 639
  • # of teachers: 49
8
GreatSchools Rating

Martinez Middle School

  • Education Level: Middle
  • # of students: 1,133
  • # of teachers: 59
8
GreatSchools Rating

Steinbrenner High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,216
Property Tax -$464
Property Insurance -$148
HOA -$80
Property Management Fees -$129
CASH FLOW
-$117

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.

$350,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$14,882

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,106

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9203$2,1004$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 5004 Mirror Ridge Ct Lutz, FL 2
    • 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.00
    •  
  • 17908 Havenview Ln Lutz, FL 1
    • 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2002
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.08
    •  
  • 5025 Torrey Hills Ln Lutz, FL 3
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2003
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.07
    •  
  • 5412 Avenal Dr Lutz, FL 4
    • 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1995
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.11
    •  
  • 4305 Avenue Cannes Lutz, FL 5
    • 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 1994
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
PROPERTY LISTING DETAILS
Chanelle Brennan
1.813.767.1162
Eaton Realty,llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3291042
Last Updated: 02/19/2021
BESbswy