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8656 Magnolia Dr Largo, FL 33777

4 Beds 3 Baths 1,281 sqft Built 1970

$255,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $199.06
  • 4 Days on Market
  • MLS # : U8107201
  • Updated Date : 12/11/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,281 sqft
  • Baths : 3 full
Listing Agent

Realty Experts

Listing Agent's Description

WOW!! What an opportunity for immediate equity! NEWER ROOF, NEWER WINDOWS, NEW FLOORING THROUGHOUT, BATHROOMS REMODELED, to much to list!! 95% complete, come put your finishing touches on this block home in desirable area.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 33777

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $79k238k

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

Zip Code: 33777

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8611672

* 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$941
Property Tax -$301
Property Insurance -$111
Property Management Fees -$129
CASH FLOW
$178

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.

$255,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$42,568

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $1,426

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6003$1,6604$1,675
$1,675
RENT COMPS ANALYSIS
  • 8656 Magnolia Dr Largo, FL 3
    • 4 beds 3 baths ∙ 1,281 Sqft ∙ Built 1970 4 beds 3 baths ∙ 1,281 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.30
    •  
  • 8589 Lantana Dr Seminole, FL 1
    • 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 2
    • 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
Jonathon Bozarth
1.727.686.9287
Realty Experts
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8107201
Last Updated: 12/11/2020
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