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$579,000

For Sale - Active
1909 Masters Way, Plant City, FL 33566
4 Beds
3 Baths
3,413 Square Feet
0.40 Acres Lot
Built in 1988
For Sale - Active
1 Units
Checked: 14 hours ago
Updated: Jun 29, 2025 at 06:32PM

Investment Summary


Monthly Cash Flow
-$994
Cap Rate
4.1%
Cash-on-Cash Return
-9.0%
Debt Coverage Ratio
0.66
Internal Rate of Return (5 years)
-4.7%

Property Description


0.40 Acres Lot
Built in 1988
For Sale - Active
1 Units

Experience the best of executive living in this beautifully maintained Walden Lake Community, located in the sought-after Tanglewood community. This spacious residence needs a little tlc in the primary suite and features 4 bedrooms plus a versatile office or 5th bedroom, 3 full bathrooms, a sparkling pool and spa, and a 3-car garage. Step inside and you are greeted with classic leaded glass double doors to discover soaring ceilings, custom door trim, and striking interior leaded glass transoms. The flexible floor plan offers formal living and dining rooms, a 3-way split bedroom layout, and a private guest suite with its own bath and convenient pocket door. The primary suite includes French doors to the lanai, laminate flooring, a generous walk-in closet, a jetted tub, large shower, dressing vanity that needs to be repaired, and a separate water closet. The dedicated office or 5th bedroom is finished with laminate flooring, wainscoting, a built-in desk with cabinetry, and a walk-in closet. The remaining bedrooms are generously sized at 12x11 and 12x12. The heart of the home is the open kitchen and family room, featuring granite countertops, stainless appliances, a skylight, tile backsplash, wall oven, counter seating, and a spacious breakfast nook overlooking the pool. The family room centers around a cozy brick wood-burning fireplace and large sliders that open to the expansive lanai. Enjoy Florida living at its finest with a 15x30, 7-foot-deep resurfaced pool less than 5 years ago, spa, and a party-sized lanai offering covered seating on both sides. The outdoor kitchen is equipped with a Jenn Air range, bar sink, and cabinetry—perfect for entertaining. Additional highlights include a 6x6 walk-in pantry with recessed fridge, an oversized laundry room with built-ins, and a discreet storage shed for lawn equipment. Recent updates include a new roof (2024) and fresh exterior paint. Walden Lake offers miles of walking and biking trails, a lakefront park with playground, butterfly garden, fishing pier, sports complex, dog park, and more. Discover the charm of Historic Plant City and enjoy easy access to all the amenities this vibrant community has to offer. Schedule your private tour today!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Attached
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 10
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Type: Gable or Hip
  • Roof Material: Shingle
  • Pool: Yes

HOA

  • Has HOA: Yes
  • Association: Bette Guinarno
  • HOA Fee: $50/annually
  • Additional Association: Walden Lake Association
  • Additional HOA Fee: $354/semi-annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: P0629225AN000001000120
  • Lot Size: 17220 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Florida
  • Year Built: 1988

Tax Information

  • Annual Tax: $8,696

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Hillsborough

Listing Details


Listed by:
Elizabeth Willers
SERHANT
(863) 521-4164

Source:
Stellar MLS
MLS#: L4953431
Stellar MLS

Investment Summary


Monthly Cash Flow
-$994
Cap Rate
4.1%
Cash-on-Cash Return
-9.0%
Debt Coverage Ratio
0.66
Internal Rate of Return (5 years)
-4.7%

Purchase Details

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Purchase price:
$579,000
Amount financed:
-$463,200
Down payment:
$115,800
Closing costs:
$17,370
Rehab costs:
$0
Initial cash invested:
$133,170
Square feet:
3,413
Cost per square foot:
$170
Monthly rent per square foot:
$1.17

Financing Details

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Loan amount:
$463,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,966
Property tax:
$725
Insurance:
$280
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,971

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,000 $48,000
Vacancy loss: (6%)
6% -$240 -$2,880
Operating income:
$3,760 $45,120

Operating Expenses


% Rent Monthly Yearly
Property taxes: (18%)
18%-$725-$8,696
Insurance: (7%)
7%-$280-$3,360
Property management: (8%)
8%-$320-$3,840
Repairs & maintenance: (5%)
5%-$200-$2,400
Capital expenditures: (5%)
5%-$200-$2,400
HOA fees: (2%)
2%-$63-$756
Total operating expenses: (45%)
45%-$1,788-$21,452

Cash Flow


Monthly Yearly
Net operating income:
$1,972 $23,664
Mortgage payments:
-$2,966 -$35,592
Cash flow:
$994 $11,928