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5625 Oakland Dr Tampa, FL 33617

3 Beds 3 Baths 1,806 sqft Built 1961

$272,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $150.61
  • 5 Days on Market
  • MLS # : T3284587
  • Updated Date : 01/14/2021 at 09:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,806 sqft
  • Baths : 3 full
Listing Agent

Vintage Homes Realty

Listing Agent's Description

Welcome to Oak Crest. This impeccable 3bedroom, 3 full-bath ranch-style, brick & block home has much to offer. Tucked away along a cul-de-sac, just steps away from the Hillsborough River, this is the peaceful setting you've been waiting to become available in the Temple Terrace area. So Much Space! Step inside and relax. There is more than 1800 sq. ft. of updated living space inside, but it feels even larger with a wide-open dining, kitchen and living room areas! This mid-century beauty is ready for it's new owner. Take a look at the all-stainless appliances, massive French-door refrigerator and seven-bottle wine fridge. Anyone will appreciate the small touches like butcher block countertop & granite countertops, solid wood cabinets, and a vintage-themed tin backsplash. Is a 2-car garage on your checklist!? Well this garage has plenty of space, plus an attached centrally air-conditioned bonus room, perfect for a small weight room or home office. Need storage? Each bedroom has walk-in closets & each bathroom newer, beautiful vanities. This home has Tons of entertaining space inside and out. On nearly 1/3rd of an acre, there is plenty of room to grow. Add on the screened patio or build your dream pool (Plenty of room!) Plus, this home is efficient! Sturdy Block Construction, Tile roof, brand new insulation and NO water or Sewer Bills. Deep, cold water well & septic (both systems tested and serviced in 2019). No HOA/Deed Restrictions. High & Dry, No Flood Zone/Flood Insurance Required. Centrally located and convenient to Downtown, airport, universities, and Interstate.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: East Lake - Orient Park

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: East Lake - Orient Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391613

* 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
Robles Elementary School Primary Regular 745 65 2
Jennings Middle School Middle Regular 770 58 2
King High School High Magnet 1,889 106 4

Robles Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 65
2
GreatSchools Rating

Jennings Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 58
2
GreatSchools Rating

King High School

  • Education Level: High
  • # of students: 1,889
  • # of teachers: 106
4
GreatSchools Rating
 

$244,800$299,200$272,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$945
Property Tax -$334
Property Insurance -$141
Property Management Fees -$129
CASH FLOW
$91

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.

$272,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 12.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$77,830

INVESTMENT

$77,830

Down Payment
$68,000
Rehab Estimate
$5,750
Closing Costs
$4,080

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,000
Loan Amount $204,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$26,598

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3953$1,5254$1,5505$1,640
$1,640
RENT COMPS ANALYSIS
  • 5625 Oakland Dr Tampa, FL 5
    • 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.91
    •  
  • 4407 Perch St Tampa, FL 1
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1958
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.93
    •  
  • 8615 Grandview Dr Temple Terrace, FL 2
    • 4 beds 2 baths ∙ 1,562 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,562 Sqft ∙ Built 1955
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 211 Willowick Ave Temple Terrace, FL 3
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.90
    •  
  • 8301 N 46th St Tampa, FL 4
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1958
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
PROPERTY LISTING DETAILS
Sean Bowes
1.239.470.0236
Vintage Homes Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3284587
Last Updated: 01/14/2021
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