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6142 Oconnel St Englewood, FL 34224

3 Beds 2 Baths 1,606 sqft Built 2004

$249,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $155.60
  • 7 Days on Market
  • MLS # : D6114912
  • Updated Date : 11/18/2020 at 10:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,606 sqft
  • Baths : 2 full
Listing Agent

Tall Pines Realty

Listing Agent's Description

One or more photo(s) has been virtually staged. Your dream of owning a home in paradise just came true! COUNTY WATER, NO FLOOD INSURANCE REQUIRED,HURRICANE PANELS and NO HOA. This beautiful home is nestled away on a side street, but with easy access to the beach, shopping, fishing and all of the amenities the Florida lifestyle has to offer. Open the large sliders in the family room to let the beautiful tropical breezes flow through the house. The soaring ceilings and open floor plan make this house feel modern and bright. Offering plenty of room for relaxing and entertaining, the family room and kitchen open to a spacious eating area. The master bedroom is everything you want and more, offering a spacious area to rest and an en-suite bathroom with his and her sinks. The split floor plan affords you space of your own, with two well appointed bedrooms and a separate full bath with a tub on the opposite side of the home. You will not be disappointed when you step outside! Enjoy the screened lanai or watch the birds from your own back yard. Englewood Beach is only a hop skip and a jump away, or ride your bike to one of the local restaurants about a mile away. The community center with its pool, dog park, tennis courts and skate board park is less than 4 miles away! This truly is a "get away from it all" while still being close to everything. Call for your showing today! *Pictures are a virtual representation of the home's decor* Seller and the seller(s) agent(s) makes no representations, warranties, or assurances as to the accuracy or completeness of the content contain on the MLS or any other site regarding this land, including but not limited to the suitability for building, the utilities available or the status of the Home Owner's Association, if any. Buyers are strongly advised to conduct inspections and/or feasibility studies.

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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: Section 62

NeighborhoodNIR Market*City2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $99k350k

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

Neighborhood: Section 62

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212501300135014001450150015501600165017001750Rent in $12471755

* 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
Myakka River Elementary School Primary Regular 515 35 5
L. A. Ainger Middle School Middle Regular 775 41 6
Lemon Bay High School High Regular 1,268 62 7

Myakka River Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 35
5
GreatSchools Rating

L. A. Ainger Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 41
6
GreatSchools Rating

Lemon Bay High School

  • Education Level: High
  • # of students: 1,268
  • # of teachers: 62
7
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$922
Property Tax -$299
Property Insurance -$131
Property Management Fees -$80
CASH FLOW
$97

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$249,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 3.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$30,393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,526

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$1,5303$1,6254$1,6655$2,000
$2,000
RENT COMPS ANALYSIS
  • 6142 Oconnel St Englewood, FL 2
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.95
    •  
  • 10327 Waterford Ave Englewood, FL 1
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2006
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.57
    •  
  • 10371 Grail Ave Englewood, FL 3
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.01
    •  
  • 10363 Grail Ave Englewood, FL 4
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $1.04
    •  
  • 10204 Deerwood Ave Englewood, FL 5
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1989
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
PROPERTY LISTING DETAILS
Julie Starbuck
1.941.268.4837
Tall Pines Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6114912
Last Updated: 11/18/2020
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