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825 King Leon Way Sun City Center, FL 33573

3 Beds 2 Baths 1,896 sqft Built 2006

INVESTimate

$173,000

List Price

$1,760

$1,584 - $1,936

Rent Est.

$187,013  ( +8.10%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $91.24
  • 9 Days on Market
  • MLS # : T3260048
  • Updated Date : 08/25/2020 at 11:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,896 sqft
  • Baths : 2 full
Listing Agent

Dalton Wade Inc

Listing Agent's Description

Large home priced well below market value due to the existence of defective drywall in the home (commonly called "Chinese Drywall"). When renovated you will enjoy the location of the private cul-de-sac with a peaceful view out to a pond. This is a spacious home with separation of master and guest bedrooms and good-sized rooms; the master bedroom was extended when built. Sun City Center is a great community for 55 and older as we have many recreational activities here available to all - such as card games, golf, tennis, pickle ball, archery, dancing, water walking, and the use of multiple pools. And you will enjoy Club Renaisssance as a meeting place with friends.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 33573

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $85k238k

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

Zip Code: 33573

ZipNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8781597

* 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
Cypress Creek Elementary School Primary Regular 649 60 2
Shields Middle School Middle Regular 1,474 99 2
Lennard High School High Regular 1,976 114 4

Cypress Creek Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 60
2
GreatSchools Rating

Shields Middle School

  • Education Level: Middle
  • # of students: 1,474
  • # of teachers: 99
2
GreatSchools Rating

Lennard High School

  • Education Level: High
  • # of students: 1,976
  • # of teachers: 114
4
GreatSchools Rating
 

$155,700$190,300$173,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$638
Property Tax -$235
Property Insurance -$147
HOA -$135
Property Management Fees -$80
CASH FLOW
$525

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.

$173,000

PROJECTED PRICE

$1,760

PROJECTED RENT

1.02%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 8.10%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$51,595

INVESTMENT

$51,595

Down Payment
$43,250
Rehab Estimate
$5,750
Closing Costs
$2,595

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,250
Loan Amount $129,750
See What Happens When You Reinvest Cash Flow

17.42

YEARS SAVED

$58,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,778

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6504$1,7605$1,900
$1,900
RENT COMPS ANALYSIS
  • 825 King Leon Way Sun City Center, 4
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.93
    •  
  • 16815 Peaceful Valley Dr #16815 Wimauma, 1
    • 4 beds 2 baths ∙ 1,791 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,791 Sqft ∙ Built 2017
    property image
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 16407 Treasure Point Dr Wimauma, 2
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2016
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 1208 Jasmine Creek Ct Sun City Center, 3
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2003
    property image
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 17001 Peaceful Valley Dr Wimauma, 5
    • 4 beds 3 baths ∙ 1,929 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,929 Sqft ∙ Built 2016
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.98
    •  
PROPERTY LISTING DETAILS
Barbara Gaines
1.813.523.1755
Dalton Wade Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260048
Last Updated: 08/25/2020
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