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8605 Brookway Cir Tampa, FL 33635

3 Beds 2 Baths 2,008 sqft Built 1995

$390,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $194.22
  • 7 Days on Market
  • MLS # : T3276342
  • Updated Date : 11/20/2020 at 08:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,008 sqft
  • Baths : 2 full
Listing Agent

Mihara & Associates Inc.

Listing Agent's Description

Welcome home to your private oasis. This cheery house has everything you need to isolate in style. Entering through the double front doors, you will immediately fall in love with this stylish home. At the front of the home, the formal living and dining rooms are flooded with natural light. Curved walls flow into the updated kitchen-equipped with stainless steel appliances, a wine fridge, solid wood cabinets, Corian countertops and a belly-up bar. The kitchen opens up to the large family room-equipped with a gas fireplace. The split floor plan allows for extra privacy. The master bedroom, located at the rear of the home, has a large walk-in closet and an ensuite bathroom. The master bathroom has dual sinks, a garden tub, and an oversized frameless shower. Across the hall, the two remaining bedrooms share a full pool bath. All three bedrooms have walk-in closets. Outside, the fully fenced-in yard allows for privacy. Flocked with gorgeous Florida landscaping, the backyard is a tropical paradise. The salt water pool is surrounded by recently sealed pavers and there is an oversized deck to protect you from the hot afternoon sun. Additional improvements include indoor laundry, garage shelving, Acacia wood flooring, new exterior paint. The house is across the street from all the community amenities-including a playground, neighborhood pool and even tennis courts. Conveniently located close to the Veterans expressway, gyms, shopping, golf, and local restaurants. This happy home is a blank canvas waiting for you!

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: 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
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,439
Property Tax -$480
Property Insurance -$152
HOA -$57
Property Management Fees -$80
CASH FLOW
-$127

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.

$390,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.53%

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$1.2M$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$20,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,093

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0803$2,2004$2,2005$2,395
$2,395
RENT COMPS ANALYSIS
  • 8605 Brookway Cir Tampa, FL 2
    • 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.04
    •  
  • 9602 Fredericksburg Rd Tampa, FL 1
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1994
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
  • 10206 Lockwood Pines Ln Tampa, FL 3
    • 3 beds 2 baths ∙ 2,191 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,191 Sqft ∙ Built 1993
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 11204 Pocket Brook Dr Tampa, FL 4
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1989
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
  • 11219 Pocket Brook Dr Tampa, FL 5
    • 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 1990
    LEASED 10/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.04
    •  
PROPERTY LISTING DETAILS
Raymond Mihara
1.813.960.2300
Mihara & Associates Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3276342
Last Updated: 11/20/2020
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