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$289,000

Sold
2332 S Fairway Dr, Plant City, FL 33566
2 Beds
3 Baths
1,620 Square Feet
0.04 Acres Lot
Built in 1986
Sold
1 Units
Checked: 14 hours ago
Updated: Jul 31, 2025 at 03:54AM

Investment Summary


Monthly Cash Flow
-$664
Cap Rate
3.4%
Cash-on-Cash Return
-12.0%
Debt Coverage Ratio
0.55
Internal Rate of Return (5 years)
-7.6%

Property Description


0.04 Acres Lot
Built in 1986
Sold
1 Units

Kick back and relax in this charming, maintenance-free townhouse in the Village Green subdivision of Walden Lake in Plant City, Florida. This community is beautifully maintained with a low HOA fee. The home has been recently updated with newer cabinets, countertops, and appliances. It is freshly painted inside and out with tile downstairs and brand new carpeting upstairs. Enjoy the peaceful park-like setting from your large downstairs screened in patio or your upstairs balcony. You won’t need to do a thing in this move-in ready home, except turn the key!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Driveway, Garage Door Opener, Attached
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 3
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

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

HOA

  • Has HOA: Yes
  • Association: Diane Lee
  • HOA Fee: $220/monthly
  • Additional Association: Walden Lake Home Owner Association
  • Additional HOA Fee: $386/semi-annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Townhouse

Lot Information

  • Parcel ID: P0629225AH000000000170
  • Lot Size: 1767 sqft

Property Information

  • Property Type: Townhouse
  • Year Built: 1986

Tax Information

  • Annual Tax: $3,363

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric, Exhaust Fan
  • Cooling: Central Air

Location

  • County: Hillsborough

Listing Details


Listed by:
Stephen Hachey
FLAT FEE MLS REALTY
(813) 642-6030

Source:
Stellar MLS
MLS#: TB8393048
Stellar MLS

Investment Summary


Monthly Cash Flow
-$664
Cap Rate
3.4%
Cash-on-Cash Return
-12.0%
Debt Coverage Ratio
0.55
Internal Rate of Return (5 years)
-7.6%

Purchase Details

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Purchase price:
$289,000
Amount financed:
-$231,200
Down payment:
$57,800
Closing costs:
$8,670
Rehab costs:
$0
Initial cash invested:
$66,470
Square feet:
1,620
Cost per square foot:
$178
Monthly rent per square foot:
$1.23

Financing Details

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Loan amount:
$231,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,480
Property tax:
$280
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,900

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$280-$3,364
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (14%)
14%-$284-$3,408
Total operating expenses: (53%)
53%-$1,064-$12,772

Cash Flow


Monthly Yearly
Net operating income:
$816 $9,792
Mortgage payments:
-$1,480 -$17,760
Cash flow:
$664 $7,968