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7619 Blue Spring Dr Land O Lakes, FL 34637

4 Beds 3 Baths 2,381 sqft Built 2004

$307,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $128.94
  • 3 Days on Market
  • MLS # : O5915330
  • Updated Date : 01/08/2021 at 22:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,381 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

One or more photo(s) has been virtually staged. This Land O Lakes two-story home offers a two-car garage. This home is vacant and cleaned regularly.

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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: Wilderness Lake Preserve

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k397k

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

Neighborhood: Wilderness Lake Preserve

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Connerton Elementary School Primary Regular 973 73 4
Pine View Middle School Middle Regular 924 58 6
Land O' Lakes High School High Magnet 1,700 100 8

Connerton Elementary School

  • Education Level: Primary
  • # of students: 973
  • # of teachers: 73
4
GreatSchools Rating

Pine View Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 58
6
GreatSchools Rating

Land O' Lakes High School

  • Education Level: High
  • # of students: 1,700
  • # of teachers: 100
8
GreatSchools Rating
 

$276,300$337,700$307,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,066
Property Tax -$525
Property Insurance -$175
HOA -$10
Property Management Fees -$129
CASH FLOW
$105

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.

$307,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.6%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,105

INVESTMENT

$87,105

Down Payment
$76,750
Rehab Estimate
$5,750
Closing Costs
$4,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,750
Loan Amount $230,250
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$31,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,077

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$2,0104$2,0255$2,050
$2,050
RENT COMPS ANALYSIS
  • 7619 Blue Spring Dr Land O Lakes, FL 3
    • 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.84
    •  
  • 7709 Blue Spring Dr Land O Lakes, FL 1
    • 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2004
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
  • 8741 Shady Pavillion Ct Land O Lakes, FL 2
    • 3 beds 3 baths ∙ 2,186 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,186 Sqft ∙ Built 2018
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.91
    •  
  • 7728 Blue Spring Dr Land O Lakes, FL 4
    • 3 beds 2 baths ∙ 2,423 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,423 Sqft ∙ Built 2004
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.84
    •  
  • 7031 Moss Ledge Run Land O Lakes, FL 5
    • 4 beds 3 baths ∙ 2,459 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,459 Sqft ∙ Built 2005
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.83
    •  
PROPERTY LISTING DETAILS
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5915330
Last Updated: 01/08/2021
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