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8556 Manassas Rd Tampa, FL 33635

3 Beds 2 Baths 1,470 sqft Built 1993

$279,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $190.41
  • 2 Days on Market
  • MLS # : U8101997
  • Updated Date : 11/02/2020 at 18:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,470 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Don’t Miss This Charleston Corners Community in West Tampa, 3 bedrooms, 2 baths, 2 car garage, all on 1 level, Open floor plan, High Vaulted Ceilings, Kitchen is Updated Soft-closed Wood Cabinets, and Includes all Kitchen Appliances, Granite Counters and eat-in space in the kitchen, also a separate Dining Area off the Kitchen, Washer and Dryer hookups. Easy to maintain tile flooring throughout every room, From the Great Room, you enter a large covered patio that exits to the back yard. Charleston Corners Community offers Low Quartly HOA fees, no CDD, no Flood Insurance Required. Charleston Corner Community Amenities include a Clubhouse available to rent for parties or meetings, a community pool, playground, and tennis courts. Best VALUE & location in NW Tampa, Easy commute to beaches, Tampa International Airport and the schools, Veterans Expressway, malls, restaurants, and entertainment. Seconds away from Countryway Golf Course but only 30 min’s to the Gulf Of Mexico and the Best Beaches in the world. Make your appointment today to view this home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Town N County Alliance

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $84k238k

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

Neighborhood: Town N County Alliance

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7661620

* 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
Lowry Elementary School Primary Regular 834 66 6
Farnell Middle School Middle Regular 1,356 75 9
Alonso High School High Regular 2,607 136 5

Lowry Elementary School

  • Education Level: Primary
  • # of students: 834
  • # of teachers: 66
6
GreatSchools Rating

Farnell Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 75
9
GreatSchools Rating

Alonso High School

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

$251,910$307,890$279,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,033
Property Tax -$344
Property Insurance -$121
HOA -$59
Property Management Fees -$80
CASH FLOW
$113

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.

$279,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 9.4%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$36,192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,551

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6004$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 8556 Manassas Rd Tampa, FL 5
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.19
    •  
  • 8008 Hearthstone Ct Tampa, FL 1
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1982
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 8513 Pringle Way Tampa, FL 2
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1995
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 8431 Poydras Ln Tampa, FL 3
    • 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
    •  
  • 8433 Poydras Ln Tampa, FL 4
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1999
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jesse Battle, Iii
1.727.631.5540
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8101997
Last Updated: 11/02/2020
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