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610 June Lake Ln Brandon, FL 33510

3 Beds 2 Baths 2,137 sqft Built 2001

$319,700

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $149.60
  • 2 Days on Market
  • MLS # : T3277171
  • Updated Date : 11/21/2020 at 17:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,137 sqft
  • Baths : 2 full
Listing Agent

Homeward Real Estate

Listing Agent's Description

Located in Lake June Estates - a Gated Community of just 37 homes with a private community lake. 3 bedroom, 2 bath Mercedes built home with 9-12 foot ceilings and a flexible, open floor plan. Beautiful honed hardwood flooring through all of the living areas. Custom, gorgeous carpentry work includes built-in book shelves/cabinetry units, window benches, and gorgeous surround at the gas fireplace in the family room. Crown moulding throughout. Showcase 12-foot Coffered ceilings in the living room. Large eat-in kitchen with center island, 42 inch cabinets, a breakfast bar, 2 closet pantries, and sliding doors off of the dinette -- Leading to a red Brick Pavered side patio where you can enjoy your morning coffee under a majestic Oak canopy. Large EnSuite Master with 2 custom closets, bathroom with a garden tub, separate walk-in shower, and glass block offering great natural light. Oversized second bedroom with 2 closets and gorgeous built-ins framing the window. Screened in, covered back porch with vaulted ceiling and a storage closet. Mature, lush landscaping with a mix of STUNNING Live Oaks, tropical palms, and a variety of fruit plants - cherry trees, banana trees, pineapple plants & blueberry shrubs to name a few. New water heater and Exterior paint 2020, and new sod just laid. Gas range, water heater and HVAC heater offer for low electric costs. Oversized 2 car garage with built-in shelving units & a utility sink. All appliances, the shed, and all window treatments stay except for the master drapes. Low quarterly HOA fee, no flood insurance, no CDD fees, and a Great location with easy access to shopping and restaurants, as well as close to I-75 and I-4 for easy commuting. MATTERPORT walking tour in the Virtual Tour Link.

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: Lake June Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k366k

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

Neighborhood: Lake June Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052029

* 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
Limona Elementary School Primary Regular 553 36 6
Mclane Middle School Middle Regular 756 61 2
Brandon High School High Regular 1,864 116 4

Limona Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 36
6
GreatSchools Rating

Mclane Middle School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 61
2
GreatSchools Rating

Brandon High School

  • Education Level: High
  • # of students: 1,864
  • # of teachers: 116
4
GreatSchools Rating
 

$287,730$351,670$319,700

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,180
Property Tax -$407
Property Insurance -$161
HOA -$75
Property Management Fees -$80
CASH FLOW
$28

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.

$319,700

PROJECTED PRICE

$1,930

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.4%
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

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$90,471

INVESTMENT

$90,471

Down Payment
$79,925
Rehab Estimate
$5,750
Closing Costs
$4,796

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,925
Loan Amount $239,775
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$30,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,993

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6003$1,8454$1,9005$1,930
$1,930
RENT COMPS ANALYSIS
  • 610 June Lake Ln Brandon, FL 5
    • 3 beds 2 baths ∙ 2,137 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,137 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.90
    •  
  • 715 Pennyroyal Pl Brandon, FL 1
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1992
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.85
    •  
  • 1612 Open Field Loop Brandon, FL 2
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1999
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 1407 Mistyglen Ln Brandon, FL 3
    • 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 1986
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.03
    •  
  • 1202 Lake Highview Ln Brandon, FL 4
    • 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2003
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
PROPERTY LISTING DETAILS
Kristen Brown
1.813.810.7196
Homeward Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277171
Last Updated: 11/21/2020
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