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10119 Crested Fringe Dr Riverview, FL 33578

4 Beds 3 Baths 2,612 sqft Built 2018

$279,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $106.81
  • 2 Days on Market
  • MLS # : T3287662
  • Updated Date : 01/31/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,612 sqft
  • Baths : 2 full , 1 half
Listing Agent

Spartan Property Management

Listing Agent's Description

Like new, 1 year old Lennar Providence floor plan! No rear neighbors! Two-story single-family home has plenty of room for hosting friends and family. The downstairs features an open floor plan, and the kitchen has a center island and overlooks a large dining room and family room. A flex room on the first floor provides additional space to customize as you choose. The four bedrooms are located on the second floor, including a large owner's suite with roomy walk-in closet and his and her sinks. Enjoy family time and relaxtion on the spacious upstairs loft. The upstairs laundry room is centrally located between all bedrooms, making it convenient for all family members. See it today before it is gone!

SEE MORE

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

Zip Code: 33578

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $85k268k

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

Zip Code: 33578

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8781726

* 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
Sessums Elementary School Primary Regular 951 70 6
Rodgers Middle School Middle Regular 719 49 3
Spoto High School High Regular 1,449 88 3

Sessums Elementary School

  • Education Level: Primary
  • # of students: 951
  • # of teachers: 70
6
GreatSchools Rating

Rodgers Middle School

  • Education Level: Middle
  • # of students: 719
  • # of teachers: 49
3
GreatSchools Rating

Spoto High School

  • Education Level: High
  • # of students: 1,449
  • # of teachers: 88
3
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$969
Property Tax -$472
Property Insurance -$188
HOA -$12
Property Management Fees -$129
CASH FLOW
$100

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.

$279,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.2%
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$16k

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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$27,506

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,979

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8703$1,9004$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 10119 Crested Fringe Dr Riverview, FL 2
    • 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.72
    •  
  • 10019 Crested Fringe Dr Riverview, FL 1
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2016
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 10332 Boggy Moss Dr Riverview, FL 3
    • 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 2017
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.73
    •  
  • 11210 Southwind Lake Dr Gibsonton, FL 4
    • 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 2015
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 10312 Boggy Moss Dr Riverview, FL 5
    • 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 2017
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
PROPERTY LISTING DETAILS
Aaron Brunelle
1.813.846.2753
Spartan Property Management
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3287662
Last Updated: 01/31/2021
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