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6447 Royal Tern Cir Lakewood Ranch, FL 34202

4 Beds 3 Baths 2,289 sqft Built 2004

$405,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $176.93
  • 2 Days on Market
  • MLS # : A4489347
  • Updated Date : 01/23/2021 at 12:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,289 sqft
  • Baths : 3 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

One or more photo(s) has been virtually staged. Meticulously maintained, lake-front home with four bedrooms, three full baths located in popular Greenbrook Village (Lakewood Ranch). You will immediately be impressed by the curb appeal of the side entry garage, long driveway and surrounding landscape on this peaceful street. The home is inviting with ceramic tile throughout common areas which complements the light and open floorplan with high ceilings. There is room for everyone with both a living room and family room along with the spacious master suite. If you find yourself working from home, any of the three guest suites would make a perfect home office or home gym. The kitchen has neutral counters and cabinets that will allow you to make this home yours upon moving in and the chef will love the gas range! Enjoy a cup of coffee in your breakfast nook with calm morning views through the aquarium glass windows across the lake. The split floor plan will allow everyone their own space and privacy with multiple access points out to the serene back patio. The builder planned ahead for a pool with a full pool bath, water/electric hook-up and ample lot space with desirable SW sun exposure. This home has it all; whole home water filtration, security system, enhanced security screens on back patio and hurricane shutters for those with safety in mind. Only a short bike ride to The Adventure Park with basketball, open fields, playground and a dog park. Located only 10 minutes to Lakewood Ranch Main Street, 25 minutes to Downtown Sarasota and 30 minutes to the amazing Gulf beaches. This location will put you near all the fun and sun that Southwest FL has to offer. Make this your gorgeous home today! Be sure to see the virtual tour & video here http://www.landpage.co/royaltern

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Greenbrook Village

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k509k

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

Neighborhood: Greenbrook 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
 

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

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$1,407
Property Tax -$565
Property Insurance -$176
HOA -$9
Property Management Fees -$129
CASH FLOW
$434

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.

$405,000

PROJECTED PRICE

$2,720

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 3.2%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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 30% 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

11.33

YEARS SAVED

$69,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $2,489

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1953$2,7004$2,7205$2,875
$2,875
RENT COMPS ANALYSIS
  • 6447 Royal Tern Cir Lakewood Ranch, FL 4
    • 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.19
    •  
  • 6550 Field Sparrow Gln Bradenton, FL 1
    • 3 beds 3 baths ∙ 2,115 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,115 Sqft ∙ Built 2004
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 6464 Blue Grosbeak Cir Lakewood Ranch, FL 2
    • 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 2003
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.05
    •  
  • 14024 Nighthawk Ter Lakewood Ranch, FL 3
    • 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 2003
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.11
    •  
  • 6214 Warbler Ln Lakewood Ranch, FL 5
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2002
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $1.20
    •  
PROPERTY LISTING DETAILS
Ryan Adamson
1.941.713.9234
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4489347
Last Updated: 01/23/2021
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