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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $192.46
- 4 Days on Market
- MLS # : A4486863
- Updated Date : 12/24/2020 at 08:57
CONSTRUCTION
- Beds : 3
- Floor Size : 1,525 sqft
- Baths : 2 full
Listing Agent
Michael Saunders & Company
Listing Agent's Description
This home starts with what you can’t see, from the reinforced, Miami-Dade hurricane rated reinforced roof gables, to the new duct work and additional air vents, to the CAT5 pre-wiring for TV’s and internet. The homeowner took great care to update the home with well-chosen features. What you will see is a roof replacement in 2017, air conditioning installed in 2019, recently updated bathrooms and hurricane windows – just to name a few. Centrally located in the heart of Lakewood Ranch’s Summerfield neighborhood, this 3-bedroom, 2-bath ranch home offers many new and updated features including: dishwasher, electric washer and dryer (gas available), wood floors, and sliders with 3M film. Attention to detail continues with the tankless water heater, wireless security system, crown molding and oversized baseboards, remote-control lighting, custom closets, and a large, converted laundry closet. Coveted for privacy, the lanai was extended to take advantage of the wooded preserve views. Enjoy hosting a quaint el-fresco dinner party, grilling out, or just relaxing the afternoon away. The community offers a swimming pool and quick access to new shopping, restaurants, and attractions on State Road 70. Lakewood Ranch offers a variety of golf and tennis memberships or public amenities – as well as easy access to I-75, nearby airports, and many area attractions.
SEE MORE
- 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)
- #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)
PRICE & RENT TRENDS
Neighborhood: Summerfield Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Summerfield Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,020 |
| EXPENSES | Loan Payment | -$1,083 |
| Property Tax | -$397 | |
| Property Insurance | -$130 | |
| HOA | -$8 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$274
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$293,500
PROJECTED PRICE
$2,020
PROJECTED RENT
0.69%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.34% |
| Appreciation Year (1-5) | 5.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 3.70% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$83,528
LOAN DETAILS
$1,083
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $73,375 |
| Loan Amount | $220,125 |
10.67
YEARS SAVED
$54,461
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,020
LIST RENT -
$1.32
LIST RENT PER SQFT
-
$1,544
COMP ESTIMATED VALUE -
$1.01
COMP AVG. RENT PER SQFT
Comps Range
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6438 Barberry Ct Lakewood Ranch, FL 5
- 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1997
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- Rent
- Rent Per SQFT
- $2,020
- $1.32
-
12312 Hollybush Ter Lakewood Ranch, FL 1
- 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1996
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LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,500
- $0.94
-
11202 Primrose Cir Lakewood Ranch, FL 2
- 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 1996
![property image]()
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,650
- $1.00
-
12231 Winding Woods Way Lakewood Ranch, FL 3
- 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2000
![property image]()
LEASED 05/15/20- Rent
- Rent Per SQFT
- $1,650
- $1.08
-
12331 Hollybush Ter Lakewood Ranch, FL 4
- 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1996
![property image]()
LEASED 03/10/20- Rent
- Rent Per SQFT
- $1,695
- $1.03
PROPERTY LISTING DETAILS
1.313.729.6339
Michael Saunders & Company
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: A4486863
Last Updated: 12/24/2020
