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802 Scenic Heights Dr Brandon, FL 33511

3 Beds 2 Baths 2,202 sqft Built 1986

$289,500

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $131.47
  • 6 Days on Market
  • MLS # : T3281748
  • Updated Date : 12/24/2020 at 09:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,202 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

HOA Free Living. This spacious 3-bedroom, 2-bath home on just over 1/4 of an acre is perfect for those who require some room to stretch out. Upon entering the home, you walk through the foyer and into the expansive living room which features crown molding, custom built-ins, a beautiful wood-burning fireplace with a custom mantlepiece, and tons of natural lighting. Transitioning from the living room, the Kitchen features a cooking island, breakfast bar, a large walk-in pantry, and a separate breakfast nook. The large Master Suite features a walk-in closet, an en suite bathroom with cultured marbled walls, a spacious glass shower, and a garden tub. The second bathroom has cultured marble countertops and a remodeled standing shower. The entrance to the backyard is in the living room through the elegant french doors. Stepping onto the newly re-screened lanai, you can admire the large fenced in yard which is perfect for pets and entertaining. Updates: Roof was replaced in 2017, A/C replaced in 2018, and the entire house was re-piped in 2006.

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

Zip Code: 33511

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k256k

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

Zip Code: 33511

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781644

* 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
Kingswood Elementary School Primary Regular 608 51 4
Rodgers Middle School Middle Regular 719 49 3
Riverview High School High Regular 2,387 128 6

Kingswood Elementary School

  • Education Level: Primary
  • # of students: 608
  • # of teachers: 51
4
GreatSchools Rating

Rodgers Middle School

  • Education Level: Middle
  • # of students: 719
  • # of teachers: 49
3
GreatSchools Rating

Riverview High School

  • Education Level: High
  • # of students: 2,387
  • # of teachers: 128
6
GreatSchools Rating
 

$260,550$318,450$289,500

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,068
Property Tax -$368
Property Insurance -$164
Property Management Fees -$129
CASH FLOW
$90

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.

$289,500

PROJECTED PRICE

$1,820

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$82,468

INVESTMENT

$82,468

Down Payment
$72,375
Rehab Estimate
$5,750
Closing Costs
$4,343

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,068

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,375
Loan Amount $217,125
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$34,894

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,872

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7253$1,8204$1,8255$1,925
$1,925
RENT COMPS ANALYSIS
  • 802 Scenic Heights Dr Brandon, FL 3
    • 3 beds 2 baths ∙ 2,202 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,202 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.83
    •  
  • 1423 Saddle Gold Ct Brandon, FL 1
    • 4 beds 2 baths ∙ 2,073 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,073 Sqft ∙ Built 2001
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 203 Donatello Dr Brandon, FL 2
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 1972
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.82
    •  
  • 1416 Trail Boss Ln Brandon, FL 4
    • 4 beds 2 baths ∙ 2,073 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,073 Sqft ∙ Built 2001
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.88
    •  
  • 1427 Saddle Gold Ct Brandon, FL 5
    • 4 beds 2 baths ∙ 2,061 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,061 Sqft ∙ Built 2000
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.93
    •  
PROPERTY LISTING DETAILS
Josh Fabelo
1.813.956.3025
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281748
Last Updated: 12/24/2020
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