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517 Lakewood Dr Oldsmar, FL 34677

4 Beds 2 Baths 2,364 sqft Built 1998

$449,900

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $190.31
  • 7 Days on Market
  • MLS # : T3289189
  • Updated Date : 02/09/2021 at 10:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,364 sqft
  • Baths : 2 full
Listing Agent

Palm Island Realty

Listing Agent's Description

Make this stunning 4bd/2bth corner lot property your home. This house features new granite kitchen countertops, hardwood floors in main living room area, carpet in bedrooms, and tile in dining areas; freshly painted interior/exterior, and a three car garage. Enjoy the beautiful open kitchen overlooking a very spacious living and dining area. The back porch area is perfect for family gatherings.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Oldsmar

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $85k393k

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

Neighborhood: Oldsmar

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8781984

* 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
Forest Lakes Elementary School Primary Regular 560 41 8
Joseph L. Carwise Middle School Middle Regular 1,067 60 7
East Lake High School High Regular 2,091 103 8

Forest Lakes Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 41
8
GreatSchools Rating

Joseph L. Carwise Middle School

  • Education Level: Middle
  • # of students: 1,067
  • # of teachers: 60
7
GreatSchools Rating

East Lake High School

  • Education Level: High
  • # of students: 2,091
  • # of teachers: 103
8
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,563
Property Tax -$508
Property Insurance -$174
HOA -$54
Property Management Fees -$129
CASH FLOW
$112

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.

$449,900

PROJECTED PRICE

$2,540

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$42,902

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,849

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5403$2,700
$2,700
RENT COMPS ANALYSIS
  • 517 Lakewood Dr Oldsmar, FL 2
    • 4 beds 2 baths ∙ 2,364 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,364 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.07
    •  
  • 348 Ventura Dr Oldsmar, FL 1
    • 3 beds 2 baths ∙ 2,026 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,026 Sqft ∙ Built 2001
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.14
    •  
  • 4907 Augusta Ave Oldsmar, FL 3
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1995
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.27
    •  
PROPERTY LISTING DETAILS
James Nagy, Pa
1.813.433.9006
Palm Island Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3289189
Last Updated: 02/09/2021
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