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5517 Fulmar Dr Tampa, FL 33625

5 Beds 4 Baths 2,920 sqft Built 1979

$359,900

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $123.25
  • 2 Days on Market
  • MLS # : T3284895
  • Updated Date : 01/16/2021 at 12:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,920 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mihara & Associates Inc.

Listing Agent's Description

This beautiful, spacious home was the former model and is the largest home in the community.The home is completely updated and features almost $30K in new windows & doors. Gorgeous remodeled kitchen with upgraded cabinets and granite countertops. Other features include wood burning fireplaces in BOTH family rooms. Since this was the former model, there never was a garage. So it was never converted. This home is perfect for a large or extended family. The backyard features a large screened lanai and an oversized inground pool. There is a detached pool bath with a full shower. All bedrooms are spacious. 2 bedrooms on the first floor & 3 on the second. All appliances stay, including the washer & dryer. The Ring doorbell and state of the art security cameras also remain with the home. Roof was replaced in 2014, water heater installed in 2020. Located in the Carrollwood / Citrus Park area. Seconds to 589 (Veterans Expressway) and minutes to the airport. You won't be disappointed. NOTE: THERE IS A GREEN CORRIDOR PROPERTY ASSESSMENT OF $3046.20 WHICH WILL BE PAID BY SELLERS AT CLOSING, REDUCING THE ANNUAL TAX BILL TO $3133.97.

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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: Sugarwood Grove

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: Sugarwood Grove

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
Smith Middle School Middle Regular 854 53 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

Smith Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 53
6
GreatSchools Rating

Sickles High School

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

$323,910$395,890$359,900

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,250
Property Tax -$515
Property Insurance -$205
Property Management Fees -$129
CASH FLOW
$331

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.

$359,900

PROJECTED PRICE

$2,430

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 4.0%
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$20k$25k

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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

10.83

YEARS SAVED

$58,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,935

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,430
1$2,4302$2,5503$3,400
$3,400
RENT COMPS ANALYSIS
  • 5517 Fulmar Dr Tampa, FL 1
    • 5 beds 4 baths ∙ 2,920 Sqft ∙ Built 1979 5 beds 4 baths ∙ 2,920 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.83
    •  
  • 6324 Nikki Ln Tampa, FL 2
    • 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 1997
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.90
    •  
  • 13902 Captains Reef Ct Tampa, FL 3
    • 5 beds 4 baths ∙ 3,056 Sqft ∙ Built 1986 5 beds 4 baths ∙ 3,056 Sqft ∙ Built 1986
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.11
    •  
PROPERTY LISTING DETAILS
Mark Becker
1.813.960.2300
Mihara & Associates Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3284895
Last Updated: 01/16/2021
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