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5603 Terrain De Golf Dr Lutz, FL 33558

3 Beds 2 Baths 1,859 sqft Built 1999

$359,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $193.11
  • 4 Days on Market
  • MLS # : U8108336
  • Updated Date : 12/31/2020 at 17:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full
Listing Agent

Coastal Properties Group

Listing Agent's Description

CHEVAL -POOL HOME! We welcome you to view this beautiful 3 bedroom, 2 bath, 2 car garage residence located on TPC GOLF COURSE. Drive through your privately gated community into a quiet and quaint section of Cheval with little through-traffic. This location boasts grade -A school district ( McKitrick, Martinez, & Steinbrenner), optional social membership including golf packages, fitness, tennis, clubhouse, restaurants, and parks! Minutes from the veterans expressway this home has easy access to everything Tampa Bay has to offer : downtown Tampa , nearby beaches, airport, and shops-restaurants ! Step inside you will be delighted with the split floor plan, two bedrooms ( one features hard wood flooring the other vinyl wood flooring ), a full bath with hallway access to laundry ( inside ), a two car garage equipped with built in storage cabinets and custom epoxy flooring ! The master en-suite( vinyl wood flooring ) has a walk-in closet, large bathroom with dual sinks, stand in glass shower, garden tub, and access door to pool area. The main living areas have crown molding, new ceiling fans, separate living room ( carpeted) - family room ( hardwood), and sliding glass doors to outside-lanai. Kitchen has space for eating and solid-wood cabinetry. The private pool screened in lanai area has a beautiful pool overlooking a very private ( no backside neighboring homes) backyard full of palm trees, and plenty of pool-deck space to entertain! Upgrades to home include NEW ROOF 2016, water heater 2017, pool pump 2017, pool heater 2018, new screens for lanai 2018, and NEW AC 2019. Book your appointment now ! This home is Florida living at its best !

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: Cheval West

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k481k

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

Neighborhood: Cheval West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9052692

* 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
Mckitrick Elementary School Primary Regular 1,009 67 9
Martinez Middle School Middle Regular 1,133 59 8
Steinbrenner High School High Regular 2,329 116 8

Mckitrick Elementary School

  • Education Level: Primary
  • # of students: 1,009
  • # of teachers: 67
9
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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,325
Property Tax -$477
Property Insurance -$144
HOA -$11
Property Management Fees -$129
CASH FLOW
-$96

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$359,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$22,278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,785
1$1,7852$1,7993$1,8004$1,8505$1,990
$1,990
RENT COMPS ANALYSIS
  • 5603 Terrain De Golf Dr Lutz, FL 5
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.07
    •  
  • 18831 Maisons Dr Lutz, FL 1
    • 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2001
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $1.03
    •  
  • 5610 Terrain De Golf Dr Lutz, FL 2
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1999
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.97
    •  
  • 19104 Cherry Rose Cir Lutz, FL 3
    • 3 beds 2 baths ∙ 1,976 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,976 Sqft ∙ Built 1996
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 5505 Terrain De Golf Dr Lutz, FL 4
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1998
    property image
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Colleen Neelon
1.813.748.3070
Coastal Properties Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8108336
Last Updated: 12/31/2020
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