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8401 Lantana Dr N Seminole, FL 33777

4 Beds 2 Baths 1,627 sqft Built 1971

$313,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $192.38
  • 5 Days on Market
  • MLS # : U8104276
  • Updated Date : 11/13/2020 at 06:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,627 sqft
  • Baths : 2 full
Listing Agent

Realty Experts

Listing Agent's Description

THE NON FLOOD LOCATION AND RENOVATION OF THIS 4 BEDROOM 2 BATH HOUSE IS AMAZING!! YOU WILL FEEL LIKE YOU ARE IN A NEW HOUSE. WITHIN THE LAST YEAR: A/C AND INSULATION, DOUBLE PAYNE LOW E VINYL WINDOWS, WATERPROOF VINYL FLOORING THROUGHOUT, BASEBOARDS,STAINLESS APPLIANCES WITH COUNTER DEPTH REFRIGERATOR, TANKLESS ELECTRIC HOT WATER HEATER, OUTLETS, SWITCHES, PLUMBING, AND ROOF LESS THAN 4 YEARS OLD. ALL INTERIOR WALLS AND CEILINGS HAVE NEW TEXTURE WITH HIGH QUALITY BEHR PAINT. THE OPEN KITCHEN HAS HIGH END GRANITE WITH ALL WOOD 36" SHAKER CABINETS AND CROWN MOLDING AND SLOW CLOSING DOORS AND DRAWERS. BOTH BATHROOMS ALL REDONE WITH FLOATING WALL MOUNTED VANITIES. THE LOT IS ONLY A FEW FEET SHY OF 1/4 ACRE WITH NEW WOOD FENCE ON BOTH SIDES, PLENTY OF ROOM FOR BOAT OR RV. YOU WILL BE PLEASANTLY SURPRISED THE TIME AND THOUGHT THAT HAS GONE INTO THIS HIGH END REMODEL.

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

Zip Code: 33777

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $79k256k

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

Zip Code: 33777

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781803

* 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
Bardmoor Elementary School Primary Regular 604 48 3
Osceola Middle School Middle Regular 1,162 65 5
Dixie M. Hollins High School High Regular 1,826 104 4

Bardmoor Elementary School

  • Education Level: Primary
  • # of students: 604
  • # of teachers: 48
3
GreatSchools Rating

Osceola Middle School

  • Education Level: Middle
  • # of students: 1,162
  • # of teachers: 65
5
GreatSchools Rating

Dixie M. Hollins High School

  • Education Level: High
  • # of students: 1,826
  • # of teachers: 104
4
GreatSchools Rating
 

$281,700$344,300$313,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,155
Property Tax -$395
Property Insurance -$131
Property Management Fees -$80
CASH FLOW
-$60

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.

$313,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.2%
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-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,695

INVESTMENT

$88,695

Down Payment
$78,250
Rehab Estimate
$5,750
Closing Costs
$4,695

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,155

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,250
Loan Amount $234,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$20,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,5993$1,6004$1,6755$1,700
$1,700
RENT COMPS ANALYSIS
  • 8401 Lantana Dr N Seminole, FL 5
    • 4 beds 2 baths ∙ 1,627 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,627 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 9242 82nd Way Seminole, FL 1
    • 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1960
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $1.04
    •  
  • 8589 Lantana Dr Seminole, FL 2
    • 4 beds 2 baths ∙ 1,443 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,443 Sqft ∙ Built 1969
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.11
    •  
  • 8701 Magnolia Dr Seminole, FL 3
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1959
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
  • 8717 78th Ave N Seminole, FL 4
    • 4 beds 2 baths ∙ 1,494 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,494 Sqft ∙ Built 1955
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.12
    •  
PROPERTY LISTING DETAILS
Jon Jantomaso
1.727.642.9452
Realty Experts
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104276
Last Updated: 11/13/2020
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