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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $242.06
- 2 Days on Market
- MLS # : U8114694
- Updated Date : 02/28/2021 at 01:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,776 sqft
- Baths : 2 full
Listing Agent
Archwater Realty
Listing Agent's Description
Welcome home to this fantastic well cared for super clean and move in ready 3 bedroom 2 bathroom 2 car garage pool home on Lake Allen! This residence sits on an over ¼ acre lot and is on a street with sidewalks and street lights. Centrally located, this home has quick access to the interstate and US-19, is near the beautiful gulf beaches and is close to Clearwater and Tampa Airports. Step inside and fall in love with this light and bright gem, it features a split bedroom floor plan, separate living and family rooms, a wood burning fire place and the master bedroom is nicely appointed with a garden tub in the bathroom and a large walk-in closet. Updates to this home include all new granite countertops in the kitchen New Kitchen cabinets, and baths, new stainless steel kitchen appliances. The A/C, exterior paint and the pool screens were all new in 2018. The windows have been outfitted with hurricane shutters and there was a sea wall with cap installed along the lake. Step out back and see where this home really shines, there is a beautiful free form pool over looking Lake Allen, the perfect place to relax or entertain. Pool just re surfaced in 2020. Out past the pool there is plenty of green space and there is a dock complete with a row boat that awaits the new owner of this home! The lawn is on a sprinkler system and is fed by the lake, also you will surely. enjoy the bounty of the fruit trees located on this property for years to come. This home is in absolutely stunning condition inside and outside, Price right for condition, amenities, location and features.
SEE MORE
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Somerset Lakes
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Somerset Lakes
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,000 |
| EXPENSES | Loan Payment | -$1,493 |
| Property Tax | -$508 | |
| Property Insurance | -$140 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$270
|
||
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.
$429,900
PROJECTED PRICE
$2,000
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.27% |
| Appreciation Year (1-5) | 3.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.26% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$119,674
LOAN DETAILS
$1,493
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $107,475 |
| Loan Amount | $322,425 |
3.17
YEARS SAVED
$10,771
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,000
LIST RENT -
$1.13
LIST RENT PER SQFT
-
$2,002
COMP ESTIMATED VALUE -
$1.13
COMP AVG. RENT PER SQFT
Comps Range
-
8140 Somerset Dr Largo, FL 4
- 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1991
- Rent
- Rent Per SQFT
- $2,000
- $1.13
-
9099 108th Ave Largo, FL 1
- 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1977
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,695
- $1.17
-
12732 Pineforest Way E Largo, FL 2
- 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 2002
LEASED 01/10/20- Rent
- Rent Per SQFT
- $1,700
- $1.11
-
8189 Perth Dr Largo, FL 3
- 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1988
LEASED 09/12/19- Rent
- Rent Per SQFT
- $1,800
- $1.12
-
8112 Somerset Dr Largo, FL 5
- 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1993
LEASED 11/01/19- Rent
- Rent Per SQFT
- $2,100
- $1.11
PROPERTY LISTING DETAILS
1.727.452.8011
Archwater Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: U8114694
Last Updated: 02/28/2021
