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8827 W Patterson St Tampa, FL 33615

3 Beds 2 Baths 1,356 sqft Built 1983

$235,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $173.30
  • 3 Days on Market
  • MLS # : T3277733
  • Updated Date : 11/27/2020 at 18:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,356 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Tampa Prop.

Listing Agent's Description

FANTASTIC VALUE *** CLEAN *** READY FOR IMMEDIATE OCCUPANCY as a Primary Residence or Investment Rental Property. Located in DESIRABLE 33615 Town 'n Country area, off Sheldon Road between Waters Ave and Hillsborough Ave. Three (3) bedrooms (the Larger 3rd BR is the garage conversion) and has a unique DUTCH DOOR | 1 full bath (UPDATED) and a 1/2 bath located next to the INSIDE LAUNDRY ROOM and plenty of EXTRA STORAGE. *** NEWER ROOF 8 YEARS OLD. *** NEWER HVAC 5 YEARS OLD. *** NEWER SEPTIC TANK 5 YEARS OLD *** NEWER KITCHEN with solid wood Cabinets, 4" BASEBOARDS and all FLOORING is CERAMIC TILE. *** The GREAT ROOM offers a VALTED CEILING and WOOD BEAMS for architectural detailing. *** GREAT FEATURES are the SCREENED LANAI | Large Lot and FENCED BACKYARD | and *** BONUS FREESTANDING WORKSHOP inside the Fenced Backyard. | CALL TODAY for QUICK SHOWING *** QUICK CLOSING AVAILABLE.

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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

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
Bay Crest Elementary School Primary Regular 737 56 3
Davidsen Middle School Middle Regular 959 54 5
Alonso High School High Regular 2,607 136 5

Bay Crest Elementary School

  • Education Level: Primary
  • # of students: 737
  • # of teachers: 56
3
GreatSchools Rating

Davidsen Middle School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 54
5
GreatSchools Rating

Alonso High School

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

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

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$867
Property Tax -$289
Property Insurance -$114
Property Management Fees -$80
CASH FLOW
$60

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

$1,410

PROJECTED RENT

0.60%

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

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$700k$800k

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.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$26,754

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,529

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4103$1,4504$1,5005$1,700
$1,700
RENT COMPS ANALYSIS
  • 8827 W Patterson St Tampa, FL 2
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.04
    •  
  • 10103 Royal Acres Ct Tampa, FL 1
    • 4 beds 2 baths ∙ 1,236 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,236 Sqft ∙ Built 1980
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.13
    •  
  • 10102 Hunters Point Ct Tampa, FL 3
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1981
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.13
    •  
  • 8819 W Robson St Tampa, FL 4
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1980
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
  • 10265 Oasis Palm Dr Tampa, FL 5
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1997
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Regina Carter
1.813.264.7754
Keller Williams Tampa Prop.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277733
Last Updated: 11/27/2020
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