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577 Marklen Loop Polk City, FL 33868

3 Beds 2 Baths 1,053 sqft Built 1992

$130,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $123.46
  • 3 Days on Market
  • MLS # : L4919343
  • Updated Date : 11/20/2020 at 13:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,053 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

Schedule your showing TODAY! This home won’t last long! This charming home has been the heart of this family for many years and now its time to pass on all the opportunity to another family who will make this wonderful place their home. The LOCATION is central to shopping, grocery, and convenience. This area hosts great education facilities including Polytechnic University. Outdoor enthusiasts will enjoy the nearby Van Fleet Trail which navigates 29 miles of rural Florida scenery. The Polk Parkway and Interstate 4 have access points close by which make commuting a breeze. NO HOA! NEW EXTERIOR PAINT! The large fenced yard makes family entertaining easy. NEW DRAIN FIELD 2019! This home is USDA eligible!!!

SEE MORE

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: Orangewood Village

NeighborhoodNIR Market*CityMarket2010Year2000201950k60k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $41k186k

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

Neighborhood: Orangewood Village

NeighborhoodNIR Market*CityMarket2015Year20092019 Q265070075080085090095010001050110011501200125013001350Rent in $6471371

* 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
Polk City Elementary School Primary Regular 471 32 3
Jere L. Stambaugh Middle School Middle Regular 851 48 2
Tenoroc High School High Regular 1,170 72 2

Polk City Elementary School

  • Education Level: Primary
  • # of students: 471
  • # of teachers: 32
3
GreatSchools Rating

Jere L. Stambaugh Middle School

  • Education Level: Middle
  • # of students: 851
  • # of teachers: 48
2
GreatSchools Rating

Tenoroc High School

  • Education Level: High
  • # of students: 1,170
  • # of teachers: 72
2
GreatSchools Rating
 

$117,000$143,000$130,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$480
Property Tax -$183
Property Insurance -$96
Property Management Fees -$80
CASH FLOW
$391

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$130,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.95%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 2.9%
Maintenance Year (1-5) 8.00%
Vacancy 3.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

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$50k$100k$150k$200k$250k$300k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$40,200

INVESTMENT

$40,200

Down Payment
$32,500
Rehab Estimate
$5,750
Closing Costs
$1,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$480

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $32,500
Loan Amount $97,500
See What Happens When You Reinvest Cash Flow

16.83

YEARS SAVED

$42,946

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,243

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,1953$1,2304$1,520
$1,520
RENT COMPS ANALYSIS
  • 577 Marklen Loop Polk City, FL 3
    • 3 beds 2 baths ∙ 1,053 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,053 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.17
    •  
  • 5653 Viburnum Ct Polk City, FL 1
    • 3 beds 1 baths ∙ 984 Sqft ∙ Built 1994 3 beds 1 baths ∙ 984 Sqft ∙ Built 1994
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.19
    •  
  • 5767 Viburnum Ct Polk City, FL 2
    • 3 beds 2 baths ∙ 984 Sqft ∙ Built 1995 3 beds 2 baths ∙ 984 Sqft ∙ Built 1995
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.21
    •  
  • 1142 Berkley Ridge Ln Auburndale, FL 4
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 2012
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.14
    •  
PROPERTY LISTING DETAILS
Angela Walker
1.863.430.3274
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919343
Last Updated: 11/20/2020
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