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5055 Cypress Trace Dr Tampa, FL 33624

3 Beds 2 Baths 1,404 sqft Built 1988

$290,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $206.55
  • 3 Days on Market
  • MLS # : T3295078
  • Updated Date : 03/12/2021 at 10:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 2 full
Listing Agent

Bhhs Florida Properties Group

Listing Agent's Description

This charming home in the Cypress Trace neighborhood of desirable Carrollwood Village has it all! The kitchen features wood cabinets, granite countertops and stainless steel appliance package. The open floor plan is great for families so you can keep an eye on your little ones while preparing dinner! Be ready to move right in because almost everything has been updated recently – roof 2018, HVAC 2017, windows 2020, and sliding glass door 2020. The freshly painted exterior and beautiful landscaping are welcoming to all who come visit! And don’t forget about the large, covered lanai in the back with the large yard that is perfect for children, pets and even adult fun and games! As a resident of Carrollwood Village, you have access to tennis courts, basketball courts and a playground. The home is only minutes from the new Carrollwood Village Park that has a huge playground, splash pad, skate park, walking trails, dog parks and more! Schedule your private showing today!

SEE MORE

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: Carrollwood Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $85k382k

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

Neighborhood: Carrollwood Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9052651

* 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
Essrig Elementary School Primary Regular 675 53 6
Hill Middle School Middle Regular 870 52 6
Gaither High School High Regular 2,090 117 5

Essrig Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 53
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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,007
Property Tax -$357
Property Insurance -$117
HOA -$44
Property Management Fees -$129
CASH FLOW
-$44

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.

$290,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,411

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,3953$1,5004$1,6005$1,610
$1,610
RENT COMPS ANALYSIS
  • 5055 Cypress Trace Dr Tampa, FL 5
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.15
    •  
  • 4904 Crofton Way Tampa, FL 1
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1983
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.05
    •  
  • 4945 Cypress Trace Dr Tampa, FL 2
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1988
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.99
    •  
  • 15007 Naples Pl Tampa, FL 3
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1984
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 15846 Country Lake Dr Tampa, FL 4
    • 4 beds 2 baths ∙ 1,565 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,565 Sqft ∙ Built 1983
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
PROPERTY LISTING DETAILS
Bethany Mis
1.813.541.5159
Bhhs Florida Properties Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3295078
Last Updated: 03/12/2021
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