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8749 Morrison Oaks Ct Temple Terrace, FL 33637

3 Beds 2 Baths 1,415 sqft Built 2001

$235,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $166.08
  • 5 Days on Market
  • MLS # : T3284725
  • Updated Date : 01/14/2021 at 11:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,415 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Tampa Prop.

Listing Agent's Description

BRIDGEFORD OAKS IN TEMPLE TERRACE is the location of this adorable home featuring a GREAT ROOM plan with 3 Bedrooms + DEN, Covered Screened Lanai and 2 Car Garage! Step inside to the Great Room featuring Wood Floors and Volume Ceilings, off to the right is the Den perfect for your Home Office and features French Doors for privacy. The Chef will love the Kitchen that has been nicely updated with NEW CABINETS & GRANITE COUNTERTOPS, NEW APPLIANCES (2018), Pot Rack, closet pantry and more storage in the hallway. The Laundry Closet is conveniently located by the Master Suite. The Master Bath features new flooring and new countertops. There are two secondary bedrooms that feature updated floorings and share a Hall Bath. Let's head out to the back to the 15x14 Covered, Screened Lanai that overlooks the private fenced backyard making it the perfect place to enjoy your morning coffee or evening barbeques. The Lighting and Fans throughout have been updated and has a Newer A/C with Bi-Polar Ionization and Programmable Thermostat, Water Heater (2019). The Interior and Exterior of the home have been freshly painted. This home is located on a Cul-de-sac Street and the community is conveniently located to I-75, I-4, USF, Brandon and Downtown Tampa. IT'S NOT JUST A HOME...BUT A LIFESTYLE! Come check out this move-in ready home today!

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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: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k245k

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

Neighborhood: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781654

* 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
Folsom Elementary School Primary Regular 537 46 2
Jennings Middle School Middle Regular 770 58 2
King High School High Magnet 1,889 106 4

Folsom Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 46
2
GreatSchools Rating

Jennings Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 58
2
GreatSchools Rating

King High School

  • Education Level: High
  • # of students: 1,889
  • # of teachers: 106
4
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$816
Property Tax -$279
Property Insurance -$118
HOA -$35
Property Management Fees -$129
CASH FLOW
$93

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.

$235,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$25,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,479

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,4953$1,5504$1,6505$1,725
$1,725
RENT COMPS ANALYSIS
  • 8749 Morrison Oaks Ct Temple Terrace, FL 1
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.04
    •  
  • 8323 Clermont St Tampa, FL 2
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1986
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 9832 Morris Glen Way Temple Terrace, FL 3
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2000
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
  • 9415 Alanbrooke St Temple Terrace, FL 4
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1985
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 6709 Wood Branch Dr Tampa, FL 5
    • 4 beds 3 baths ∙ 1,630 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,630 Sqft ∙ Built 1981
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.06
    •  
PROPERTY LISTING DETAILS
Ashley Gajdosz
1.813.264.7754
Keller Williams Tampa Prop.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3284725
Last Updated: 01/14/2021
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