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5014 Melrow Ct Tampa, FL 33624

3 Beds 2 Baths 1,874 sqft Built 1984

$325,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $173.43
  • 5 Days on Market
  • MLS # : T3275565
  • Updated Date : 11/11/2020 at 17:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,874 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Awesome Carrollwood location on a quiet cul-de-sac in a very desirable sidewalk community of Country Aire. The new light fixtures throughout, and the fireplace in the family room add personality and charm to the home. New A/C in 2017. New roof and water heater in 2018! This home has a newly remodeled kitchen with new tile flooring. This home includes a split floor plan and newly remodeled master bathroom. As you exit outside, you enter a screened Lanai with gorgeous pavers and landscape. Fenced backyard with a utility shed. Just a few minutes from Veterans Expressway, HWY 275, Citrus Park Mall and many shops and restaurants! Hurry up and schedule a private showing as soon as possible! Priced to sell properties with NO HOA in this area do not come available very often, so this one will sell quickly!

SEE MORE

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: Country Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: Country Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Northwest Elementary School Primary Regular 652 48 9
Hill Middle School Middle Regular 870 52 6
Sickles High School High Regular 2,135 110 7

Northwest Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 48
9
GreatSchools Rating

Hill Middle School

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

Sickles High School

  • Education Level: High
  • # of students: 2,135
  • # of teachers: 110
7
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,199
Property Tax -$400
Property Insurance -$145
Property Management Fees -$80
CASH FLOW
$47

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.

$325,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.4%
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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$34,223

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,883

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,8704$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 5014 Melrow Ct Tampa, FL 3
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.00
    •  
  • 15415 Lake Bella Vista Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2003
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 4701 Ranchway Ct Tampa, FL 2
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1978
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 15110 Brushwood Dr Tampa, FL 4
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1978
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.03
    •  
  • 5007 Berryhill Ct Tampa, FL 5
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1997
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lisa Mauriello
1.813.817.5537
Redfin Corporation
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3275565
Last Updated: 11/11/2020
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