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8518 Parrots Landing Dr Tampa, FL 33647

4 Beds 3 Baths 2,666 sqft Built 2001

$419,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $157.50
  • 4 Days on Market
  • MLS # : T3293693
  • Updated Date : 03/05/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,666 sqft
  • Baths : 3 full
Listing Agent

Million Dollar Club

Listing Agent's Description

A HOME TO ENJOY AND BE PROUD TO CALL YOUR OWN! LOCATED IN A CUL-DE SAC IN THE HIGHLY SOUGHT COMMUNITY OF WEST MEADOWS, WITH A 3 CAR GARAGE AND PLENTY OF ADDITIONAL PARKING, WALK INTO THIS OPEN HOME WITH HIGH CEILINGS THROUGHOUT, FORMAL LIVING ROOM AND DINING ROOM WITH ARCHES, A SEPARATE DEN/OFFICE WITH DOUBLE DOORS WHCH IS PERFECT FOR AN OFFICE/DEN OFF THE LIVING ROOM AREA. THE FAMILY ROOM OFFERS A GAS FIREPLACE AND SLIDING DOORS WHICH OPEN TO THE SCHREENED COVERED PORCH WITH A BUILT IN OUTDOOR KITCHEN, AND SINK. A GRAND FOUNTAIN IS THE FOCUS POINT OF AN EXTENDED 40' X 20' SCREENED EXTENSION AND MAKES THIS HOME UNIQUE. THE KITCHEN INCLUDES MODERN STAINLESS STEEL APPLIANCES (ALL APPROXIMATELY 2 YRS. NEW) 3 DOOR STAINLESS STEEL REFRIGERATOR ALSO INCLUDED, IN ADDITION, RANGE, DISPOSAL, MICROWAVE, DISHWASHER, AND EVEN WASHER AND DRYER IN THE SPACIOUS INSIDE LAUNDRY ROOM. BREAKFAST ROOM IF OPEN TO KITCHEN AND OVERLOOKS THE BEAUTIFUL COVERED LANAI. SPLIT FLOOR PLAN OFFER A MASTER SUITE WITH WITH A WALK IN CLOSET, HIS AND HERS DOUBLE SINKS, JETTED GARDEN TUB AND SEPARATE WALK-IN SHOWER. TWO OTHER BEDROOMS AND A BONUS ROOM, IN ADDITION TO A POOL BATH AND A THIRD FULL BATH COMPLETE THIS HOME, WHICH ALSO OFFERES AN INSIDE LAUNDRY ROOM WITH WASHER AND DRYER INCLUDED. ORIGINAL OWNER HAS ENJOYED THIS HOME WITH PRIDE OF OWNERSHIP AND HAS TENDED TO ALL MAINTENANCE DETAILS, INCLUDING INSTALLING A NEW ROOF APPROXIMATELY 5 YEARS AGO,

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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

Neighborhood: West Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k343k

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

Neighborhood: West Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052071

* 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
Clark Elementary School Primary Regular 803 67 7
Liberty Middle School Middle Regular 1,202 68 6
Freedom High School High Regular 2,069 103 4

Clark Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 67
7
GreatSchools Rating

Liberty Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 68
6
GreatSchools Rating

Freedom High School

  • Education Level: High
  • # of students: 2,069
  • # of teachers: 103
4
GreatSchools Rating
 

$377,910$461,890$419,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,458
Property Tax -$506
Property Insurance -$190
HOA -$38
Property Management Fees -$129
CASH FLOW
-$171

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.

$419,900

PROJECTED PRICE

$2,150

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$16,022

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,346

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1503$2,2504$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 8518 Parrots Landing Dr Tampa, FL 2
    • 4 beds 3 baths ∙ 2,666 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,666 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.81
    •  
  • 20007 Bluff Oak Blvd Tampa, FL 1
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2004
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.86
    •  
  • 19118 Nature Palm Ln Tampa, FL 3
    • 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2002
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 8215 Myrtle Point Way Tampa, FL 4
    • 4 beds 2 baths ∙ 2,551 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,551 Sqft ∙ Built 2004
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
  • 19226 Autumn Woods Ave Tampa, FL 5
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2001
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
PROPERTY LISTING DETAILS
Alina Giasi
1.813.989.3975
Million Dollar Club
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3293693
Last Updated: 03/05/2021
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