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5005 Mirror Ridge Ct Lutz, FL 33558

4 Beds 2 Baths 2,130 sqft Built 2003

$399,999

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $187.79
  • 2 Days on Market
  • MLS # : T3292798
  • Updated Date : 03/06/2021 at 14:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,130 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

What more could you want from this pristine home nestled in the quiet community of Reflections in Lutz? Just this year a new roof was installed, and a beautiful outdoor patio was added (2021). This home boasts 4 bedrooms, 2 bathrooms, 2 car garage open floor plan. Immediately you'll be drawn to the homeyness of the adorable front porch and entry area. The foyer invites you into the brightness of the homes living space. A split floor plan that offers privacy to every bedroom. The homes interior features include; warm natural wood floors, plush carpet and ceramic tiles in the wet areas for functionality and comfort. You will be amazed with the the tray ceilings, two walk in closets, enormous walk-in shower, and dual sinks of the master suite. There are sliders off the dinette and living area that lead to the outdoor screened in lana,i extending your usable living space. The owners recently added a vinyl fence to enclose the back yard for your fury friends. Schedule to see this home before its gone!!* OWNER WILL REVIEW ALL OFFERS BY 3/9/2021 5PM*

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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

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
 

$359,999$439,999$399,999

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,389
Property Tax -$505
Property Insurance -$160
HOA -$80
Property Management Fees -$129
CASH FLOW
-$13

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.

$399,999

PROJECTED PRICE

$2,250

PROJECTED RENT

0.56%

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$1.2M

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$27,417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,364

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,2954$2,2955$2,650
$2,650
RENT COMPS ANALYSIS
  • 5005 Mirror Ridge Ct Lutz, FL 2
    • 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.06
    •  
  • 5025 Torrey Hills Ln Lutz, FL 1
    • 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 3
    • 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
    •  
  • 18824 Rue Loire Lutz, FL 4
    • 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 1992
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.11
    •  
  • 18303 Bittern Ave Lutz, FL 5
    • 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 1994
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.15
    •  
PROPERTY LISTING DETAILS
Shelly Espy
1.813.417.5693
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3292798
Last Updated: 03/06/2021
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