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814 Constitution Dr Tampa, FL 33613

3 Beds 2 Baths 1,546 sqft Built 1977

$299,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $193.98
  • 23 Days on Market
  • MLS # : T3281402
  • Updated Date : 01/06/2021 at 11:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,546 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

Lovely home for sale in the Lake Magdalene area of Tampa. This 3-bedroom 2-bath 2-car garage brick faced home will capture your attention from the start. Before entering the home, you are welcomed by a large, screened patio. The stained-glass door will invite you into a home that is open and airy. As you enter you will find access to your garage to the left in addition to a large coat/storage closet. The family room is large and perfect for entertaining. Off the family room area you will find a beautiful, upgraded galley kitchen featuring maple cabinetry, granite counter tops, and stainless-steel appliances. In addition there is a nice sized breakfast nook with large windows that overlook your lanai, large yard and gorgeous lake. Off the kitchen, is a large unfinished room that can be used like a canvas to create the room of your dreams. French doors from the dining area will lead you to a tremendous lanai perfect for entertaining family and friends and providing a beautiful view of the pond. The yard is large and includes a gazebo. Brick walkway surrounds the back of the house adding some character. The master bedroom is large with nice sized walk-in closet and parquet wood flooring. Bedrooms 2 and 3 are spacious with parquet style wood flooring giving each of the bedrooms a warm feel. Second bathroom also upgraded. Additional updates/improvements include impact windows (2009) and new AC (2016/2017),Culligan Water Softener (2010), newer plumbing and transferable warranted exterior paint (2014). Centrally located and close to I-275, close to great dining and shopping. Charming home, great location, close to everything. What are you waiting for? Come tour this home today. It won’t last long.

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: North Pointe

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280kPrice in $55k289k

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

Neighborhood: North Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391627

* 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
Miles Elementary School Primary Regular 810 68 1
Buchanan Middle School Middle Regular 743 53 3
Gaither High School High Regular 2,090 117 5

Miles Elementary School

  • Education Level: Primary
  • # of students: 810
  • # of teachers: 68
1
GreatSchools Rating

Buchanan Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
3
GreatSchools Rating

Gaither High School

  • Education Level: High
  • # of students: 2,090
  • # of teachers: 117
5
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,042
Property Tax -$375
Property Insurance -$125
Property Management Fees -$129
CASH FLOW
-$31

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.

$299,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$17,254

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,646

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5504$1,6005$1,640
$1,640
RENT COMPS ANALYSIS
  • 814 Constitution Dr Tampa, FL 5
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.06
    •  
  • 14510 Diplomat Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1975
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 706 Regency Ct Tampa, FL 2
    • 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1975
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 14815 Daisy Ln Tampa, FL 3
    • 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1961
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 14958 Old Pointe Rd Tampa, FL 4
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1983
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.13
    •  
PROPERTY LISTING DETAILS
Damla Burnukara
1.813.855.4982
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281402
Last Updated: 01/06/2021
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