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6306 Sea Lavender Ln Tampa, FL 33625

3 Beds 3 Baths 2,934 sqft Built 2006

$425,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $144.85
  • 4 Days on Market
  • MLS # : U8106402
  • Updated Date : 12/05/2020 at 15:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,934 sqft
  • Baths : 3 full
Listing Agent

Morneau Property Group

Listing Agent's Description

This beautiful 3-bedroom home, with an office and large bonus room, is situated on a quiet cul-de-sac in the quaint community of Traditions at Woodmont in the heart of Citrus Park. The bright open floorplan features lovely hardwood floors, crown molding and soaring ceilings. At the center of the home is the spacious kitchen which features 42" wood cabinets, quartz countertops, stainless steel appliances and a center island. The large master suite, located downstairs, overlooks the gorgeous conservation area in the backyard. The master bathroom features a huge walk-in closet, double sinks, Jacuzzi tub, separate shower, and private water-closet. The secondary bedrooms are also located downstairs and between them is a flex space that makes for a great play room or could be converted into another bedroom. The upstairs bonus room is expansive and prewired for a surround sound system. Enjoy gorgeous views of the pond and conservation area from extended screened lanai or your fenced-in backyard. 2 brand new AC systems were recently installed! This exceptional home is close to shopping, dining and the Veteran’s Expressway.

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: Citrus Park Community

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: Citrus Park Community

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052083

* 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
Citrus Park Elementary School Primary Regular 590 52 8
Smith Middle School Middle Regular 854 53 6
Sickles High School High Regular 2,135 110 7

Citrus Park Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 52
8
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 53
6
GreatSchools Rating

Sickles High School

  • Education Level: High
  • # of students: 2,135
  • # of teachers: 110
7
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,568
Property Tax -$558
Property Insurance -$206
HOA -$81
Property Management Fees -$129
CASH FLOW
-$122

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.

$425,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.4%
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-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$24,595

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,611

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,4204$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 6306 Sea Lavender Ln Tampa, FL 3
    • 3 beds 3 baths ∙ 2,934 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,934 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.82
    •  
  • 6201 Rogers Vista Ct Tampa, FL 1
    • 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 2003
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
  • 6403 Sea Lavender Ln Tampa, FL 2
    • 4 beds 4 baths ∙ 2,899 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,899 Sqft ∙ Built 2005
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 8261 Nectar Ridge Ct Odessa, FL 4
    • 3 beds 4 baths ∙ 2,725 Sqft ∙ Built 2010 3 beds 4 baths ∙ 2,725 Sqft ∙ Built 2010
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
  • 15532 Lake Bella Vista Dr Tampa, FL 5
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2003
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Kerry Morneau
1.813.943.3262
Morneau Property Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106402
Last Updated: 12/05/2020
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