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$529,900

For Sale - Active
2900 Hammock Dr, Plant City, FL 33566
3 Beds
2 Baths
2,682 Square Feet
0.45 Acres Lot
Built in 1986
For Sale - Active
1 Units
Checked: 14 hours ago
Updated: Jul 05, 2025 at 04:08AM

Investment Summary


Monthly Cash Flow
-$1,329
Cap Rate
3.1%
Cash-on-Cash Return
-13.1%
Debt Coverage Ratio
0.51
Internal Rate of Return (5 years)
-8.7%

Property Description


0.45 Acres Lot
Built in 1986
For Sale - Active
1 Units

Stunning 3 bedrooms, 2 bathrooms, house inside the amazing community of Walden Lakes. The property is located in the subdivision of The Hammocks, with lush landscaping surrounding the house. This property is perfect for those who love space. As you walk in through the double doors, you will be greeted by the Formal dining and living areas. The floor plan has a split design, and on the right-hand side of the property, you will walk down the hallway passing the kitchen that has 2 open entrances. The kitchen comes fully stocked with new appliances such as a Range, Microwave, Dishwasher, and Refrigerator. There is plenty of counter space for a coffee station or even a bar area. Next is the corridor to the 2-car garage, where you will find the full-sized Samsung washer and dryer. The garage comes with its electric garage opener and a side door access to your trash can location. In the garage are the electrical water heater and A/C HVAC handlers. Back into the property, there are 2 closets, and one would be the best to use as your pantry. Continuing the left side of the hallway are the 2 additional bedrooms and Bathroom #2. You must see the space of these bedrooms and the built-in closets. Back towards the hallways is the Family room area with a wood-burning fireplace for those cold winter nights to cozy up while watching TV. Then you can head through the sliding doors to a bonus area that would be perfect for a game room, or entertainment room with lots of natural light, a wet back with open space to the kitchen, and under A/C so it will continue the cool temperatures from the inside. This bonus area has sliding doors to the back covered porch where the spa sits, and you can fully slide the sliding doors open for extra entertaining, as this area is fully screened in. Back into the main house, you can access the primary bedroom via sliding doors or use the French doors that take you to the main entrance, where the formal dining and living areas are. Towards the right-hand side of the house is where the primary bedroom is located alongside a flex room that is currently used as the owner's 2nd walking closet, but its options are unlimited. It can be a nursery, a game room, or an office, and it has direct access to the primary bathroom. The primary bathroom has a separate shower & toilet area and a total of 3 sinks. The primary bedroom also includes a walk-in closet and a 2nd closet. You must come see all the features that his house has to offer. The property is also located on a corner lot, so lots of extra land to grow. The community has beautiful trails to walk, jog, or ride your bikes, and it is great for families to enjoy the Florida outdoors. Come see this property before it is gone!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Alley Access, Driveway, Garage Door Opener, Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

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

HOA

  • Has HOA: Yes
  • Association: Tiffany Sullivan
  • HOA Fee: $380/semi-annually
  • Additional Association: Walden Lake

Land Information

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

Lot Information

  • Parcel ID: P0129215AL000001000010
  • Lot Size: 19776 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1986

Tax Information

  • Annual Tax: $6,634

Utilities

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

Location

  • County: Hillsborough

Listing Details


Listed by:
Z Colon
ELITE REALTY AGENCY LLC
(407) 536-7854

Source:
Stellar MLS
MLS#: O6310792
Stellar MLS

Investment Summary


Monthly Cash Flow
-$1,329
Cap Rate
3.1%
Cash-on-Cash Return
-13.1%
Debt Coverage Ratio
0.51
Internal Rate of Return (5 years)
-8.7%

Purchase Details

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Purchase price:
$529,900
Amount financed:
-$423,920
Down payment:
$105,980
Closing costs:
$15,897
Rehab costs:
$0
Initial cash invested:
$121,877
Square feet:
2,682
Cost per square foot:
$198
Monthly rent per square foot:
$1.08

Financing Details

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Loan amount:
$423,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,714
Property tax:
$553
Insurance:
$203
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,470

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,900 $34,800
Vacancy loss: (6%)
6% -$174 -$2,088
Operating income:
$2,726 $32,712

Operating Expenses


% Rent Monthly Yearly
Property taxes: (19%)
19%-$553-$6,634
Insurance: (7%)
7%-$203-$2,436
Property management: (8%)
8%-$232-$2,784
Repairs & maintenance: (5%)
5%-$145-$1,740
Capital expenditures: (5%)
5%-$145-$1,740
HOA fees: (2%)
2%-$63-$756
Total operating expenses: (46%)
46%-$1,341-$16,090

Cash Flow


Monthly Yearly
Net operating income:
$1,385 $16,620
Mortgage payments:
-$2,714 -$32,568
Cash flow:
$1,329 $15,948