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8213 Olivewood Pl Tampa, FL 33615

3 Beds 2 Baths 1,228 sqft Built 1984

$232,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $189.66
  • 3 Days on Market
  • MLS # : T3281192
  • Updated Date : 12/19/2020 at 11:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,228 sqft
  • Baths : 2 full
Listing Agent

Bhhs Florida Properties Group

Listing Agent's Description

Great opportunity for a first time home buyer or an investor! Beautiful home, freshly painted inside and outside. Excellent location, NO HOA, NO flood zone!! Near to shopping malls, schools, bus stop, parks, interstates, airport, beaches, restaurants, and many other amenities. Great features: kitchen cabinets updated with granite countertops, roof 4 years with attic insulation, HVAC 3 years, water tank new, and water filtration system. Large fenced backyard to plant your own garden, barbequing, or build your pool. Ready for you to MOVE IN!

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: Timberlane Woodlake

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Timberlane Woodlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6981613

* 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
Davis Elementary School Primary Regular 836 73 3
Davidsen Middle School Middle Regular 959 54 5
Alonso High School High Regular 2,607 136 5

Davis Elementary School

  • Education Level: Primary
  • # of students: 836
  • # of teachers: 73
3
GreatSchools Rating

Davidsen Middle School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 54
5
GreatSchools Rating

Alonso High School

  • Education Level: High
  • # of students: 2,607
  • # of teachers: 136
5
GreatSchools Rating
 

$209,610$256,190$232,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$859
Property Tax -$286
Property Insurance -$107
Property Management Fees -$129
CASH FLOW
$28

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.

$232,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 13.8%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$67,469

INVESTMENT

$67,469

Down Payment
$58,225
Rehab Estimate
$5,750
Closing Costs
$3,494

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$859

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,225
Loan Amount $174,675
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$22,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,409

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,4003$1,4104$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 8213 Olivewood Pl Tampa, FL 3
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.15
    •  
  • 9605 Elgin Ct Tampa, FL 1
    • 3 beds 2 baths ∙ 1,075 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,075 Sqft ∙ Built 1986
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.12
    •  
  • 9701 Shalimar Ct Tampa, FL 2
    • 3 beds 2 baths ∙ 1,155 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,155 Sqft ∙ Built 1986
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.21
    •  
  • 8819 W Robson St Tampa, FL 4
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1980
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
  • 8431 Poydras Ln Tampa, FL 5
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1999
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.13
    •  
PROPERTY LISTING DETAILS
Ruth Arias Prada
1.813.520.0374
Bhhs Florida Properties Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281192
Last Updated: 12/19/2020
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