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6207 Tanager Pl Temple Terrace, FL 33617

4 Beds 3 Baths 2,535 sqft Built 1984

$405,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $159.76
  • 5 Days on Market
  • MLS # : T3289732
  • Updated Date : 02/13/2021 at 17:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,535 sqft
  • Baths : 3 full
Listing Agent

Florida Realty

Listing Agent's Description

Totally renovated kitchen in this spacious 4 bedroom & 3 full bath home located at the beginning of a cul-de-sac in Raintree Oaks. Kitchen has granite countertops, real wood cabinets, large cabinet pantry with slide-out shelves, pendant lights and an oven/range combo fueled by propane. Genuine hardwood flooring throughout the house, including the kitchen. Ceramic tile in bathrooms and laundry room. All interior doors have raised panels. Roof approx 5 years old. A/C approx 5 years old. Water heater approx 4 years old. Indoor laundry room with tub sink. 3 sets of glass sliding glass doors open onto huge 36 X 12 lanai with outdoor kitchen and spillover spa and large pool, all caged and screened. Large master bath with 2 sinks at each end of a very long countertop, huge step-down shower which doubles as a huge bathtub. Large walk-in closet in master bath. One of the secondary baths opens to the lanai and spa/pool. Beautiful wood burning fireplace and hearth in family room. Double garage. Floorplan is a 2/2 split.

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: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k245k

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

Neighborhood: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781654

* 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
Lewis Elementary School Primary Regular 818 65 4
Greco Middle School Middle Regular 862 57 1
King High School High Magnet 1,889 106 4

Lewis Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 65
4
GreatSchools Rating

Greco Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 57
1
GreatSchools Rating

King High School

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

$364,500$445,500$405,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,407
Property Tax -$480
Property Insurance -$183
HOA -$27
Property Management Fees -$129
CASH FLOW
-$126

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.

$405,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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-$5.0k$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$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,407

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,041

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,915
1$1,9152$2,1003$2,350
$2,350
RENT COMPS ANALYSIS
  • 6207 Tanager Pl Temple Terrace, FL 2
    • 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 6009 Soaring Ave Temple Terrace, FL 1
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1983
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,915
    • $0.77
    •  
  • 11504 Tullamore Pl Temple Terrace, FL 3
    • 4 beds 4 baths ∙ 2,786 Sqft ∙ Built 1988 4 beds 4 baths ∙ 2,786 Sqft ∙ Built 1988
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.84
    •  
PROPERTY LISTING DETAILS
David Hammontree
1.813.431.0099
Florida Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3289732
Last Updated: 02/13/2021
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