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6309 Magee St Englewood, FL 34224

2 Beds 2 Baths 1,284 sqft Built 1990

$204,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $159.58
  • 6 Days on Market
  • MLS # : C7436870
  • Updated Date : 12/30/2020 at 01:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,284 sqft
  • Baths : 2 full
Listing Agent

Re/max Palm Realty

Listing Agent's Description

Well kept 2 bed/2 bath/2 car garage Not in a Flood Zone. Spacious eat in kitchen has lots of cabinetry and counter space, a breakfast bar, and sliding glass doors to the large screened in lanai. Split Floor plan, vaulted ceilings, freshly painted. Just minutes to the YMCA ,shopping, public boat ramps, beaches and More...

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: Section 69

NeighborhoodNIR Market*City2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $99k350k

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

Neighborhood: Section 69

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21300135014001450150015501600165017001750Rent in $12711755

* 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
 

$184,410$225,390$204,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$756
Property Tax -$245
Property Insurance -$112
Property Management Fees -$129
CASH FLOW
$527

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.

$204,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.3%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,049

INVESTMENT

$60,049

Down Payment
$51,225
Rehab Estimate
$5,750
Closing Costs
$3,074

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,225
Loan Amount $153,675
See What Happens When You Reinvest Cash Flow

16.5

YEARS SAVED

$65,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $1,316

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3953$1,6004$1,6005$1,770
$1,770
RENT COMPS ANALYSIS
  • 6309 Magee St Englewood, FL 5
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.38
    •  
  • 9116 Castlehill Ave Englewood, FL 1
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1987
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.10
    •  
  • 7009 Mamouth St Englewood, FL 2
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1980
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 109 Kings Dr Rotonda West, FL 3
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2000
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 6050 Hooper Ln Englewood, FL 4
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2008
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
PROPERTY LISTING DETAILS
Renee Schmidt
1.941.391.7817
Re/max Palm Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7436870
Last Updated: 12/30/2020
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