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10237 Millport Dr Tampa, FL 33626

4 Beds 3 Baths 2,578 sqft Built 1996

$459,900

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $178.39
  • 3 Days on Market
  • MLS # : T3277813
  • Updated Date : 11/27/2020 at 18:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,578 sqft
  • Baths : 3 full
Listing Agent

Signature Realty Associates

Listing Agent's Description

The perfect place to call your home! Well maintained & MOVE IN READY! UPDATED ROOF 2018, Located in highly sought community of WESTCHASE! Home features 2,578 sq ft of luxurious living space! This 4 bedroom, 3 bath with 3 car garage has great open floor plan & high ceilings. Enter the stunning double door entry way to Formal Living room & dining room area with beautiful wood flooring, Family room with cove ceilings, fireplace & sliders to covered brick paved lanai, large fenced in back yard, great for entertaining. Spacious kitchen with gas range, granite countertops, lots of cabinets, built in desk & plenty of eat-in space! Large master suite with sitting area & door that leads to the peaceful & tranquil backyard! His/hers walk in closets. Master bath with garden tub & separate shower, His & hers cultured marble vanity areas. This home is a must see & wont last! Great location, close to all, community pool, tennis courts, shopping, restaurants, schools, Veterans Expressway, I-275, Tampa International Airport & downtown Tampa, hospitals, golf courses. CALL TODAY FOR A PRIVATE TOUR OF THIS STUNNING HOME!

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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: The Fords

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500kPrice in $85k549k

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

Neighborhood: The Fords

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9052978

* 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
Westchase Elementary School Primary Regular 904 68 8
Davidsen Middle School Middle Regular 959 54 5
Alonso High School High Regular 2,607 136 5

Westchase Elementary School

  • Education Level: Primary
  • # of students: 904
  • # of teachers: 68
8
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
 

$413,910$505,890$459,900

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,697
Property Tax -$657
Property Insurance -$185
HOA -$22
Property Management Fees -$80
CASH FLOW
-$11

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$459,900

PROJECTED PRICE

$2,630

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$38,086

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,617

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5504$2,6305$2,890
$2,890
RENT COMPS ANALYSIS
  • 10237 Millport Dr Tampa, FL 4
    • 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.02
    •  
  • 10364 Lightner Bridge Dr Tampa, FL 1
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 1997
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.04
    •  
  • 10323 Millport Dr Tampa, FL 2
    • 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 1996
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 10128 Downey Ln Tampa, FL 3
    • 4 beds 2 baths ∙ 2,429 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,429 Sqft ∙ Built 1998
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.05
    •  
  • 10217 Newington Pl Tampa, FL 5
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1996
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $1.06
    •  
PROPERTY LISTING DETAILS
Christina Barone
1.813.689.3115
Signature Realty Associates
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277813
Last Updated: 11/27/2020
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