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6438 Barberry Ct Lakewood Ranch, FL 34202

3 Beds 2 Baths 1,525 sqft Built 1997

$293,500

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k509k

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

Neighborhood: Summerfield Village

ZipNIR Market*CityMarket20102015Year20082019 Q214001600180020002200240026002800Rent in $12942926

* 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
Mcneal Elementary School Primary Regular 769 48 8
Nolan Middle School Middle Regular 1,130 60 7
Lakewood Ranch High School High Regular 2,299 95 7

Mcneal Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 48
8
GreatSchools Rating

Nolan Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 60
7
GreatSchools Rating

Lakewood Ranch High School

  • Education Level: High
  • # of students: 2,299
  • # of teachers: 95
7
GreatSchools Rating
 

$264,150$322,850$293,500

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,528

INVESTMENT

$83,528

Down Payment
$73,375
Rehab Estimate
$5,750
Closing Costs
$4,403

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,083

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,375
Loan Amount $220,125
See What Happens When You Reinvest Cash Flow

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
$1,500
1$1,5002$1,6503$1,6504$1,6955$2,020
$2,020
RENT COMPS ANALYSIS
  • 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
    property image
    • 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
    property image
    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
Jennifer Horvat, Llc
1.313.729.6339
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4486863
Last Updated: 12/24/2020
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